1 00:00:04,120 --> 00:00:06,720 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,720 --> 00:00:10,160 Speaker 1: for Monday, the second of March. I'm Sean Aylmer. Every afternoon, 3 00:00:10,200 --> 00:00:12,280 Speaker 1: We've got the five stories that happened today that you 4 00:00:12,360 --> 00:00:14,200 Speaker 1: need to know about. Story number one, the local share 5 00:00:14,280 --> 00:00:18,480 Speaker 1: market closed flat today, with rising energy and gold companies 6 00:00:18,560 --> 00:00:22,760 Speaker 1: cushioning falls in other sectors. By the close, SMPASX two 7 00:00:22,840 --> 00:00:25,840 Speaker 1: hundred was up just two points two nine two hundred 8 00:00:25,840 --> 00:00:28,920 Speaker 1: and one points. Investors will be watching Wall Street closely 9 00:00:28,960 --> 00:00:31,360 Speaker 1: tonight for its reaction to the conflict in the Middle East. 10 00:00:31,560 --> 00:00:34,320 Speaker 1: Best on the day was Karoon Energy, up fifteen percent, 11 00:00:34,360 --> 00:00:37,199 Speaker 1: while oil and gas major Woodside jumped seven percent. The 12 00:00:37,320 --> 00:00:39,959 Speaker 1: Energy sub index rows five and a half percent all up. 13 00:00:40,159 --> 00:00:42,480 Speaker 1: Worst was buy Now, Pay Later group Zipco, which fell 14 00:00:42,560 --> 00:00:45,519 Speaker 1: eight percent. In terms of sectors, techtoks can't find any 15 00:00:45,520 --> 00:00:47,440 Speaker 1: friends at the moment, with a tech sub index down 16 00:00:47,479 --> 00:00:50,800 Speaker 1: three percent today. Among the large CAP's, PHP surge to 17 00:00:50,880 --> 00:00:54,480 Speaker 1: overtake Commonwealth Bank as the country's largest stock once again, 18 00:00:54,640 --> 00:00:56,960 Speaker 1: all the big banks will lower. Story number two. The 19 00:00:56,960 --> 00:00:58,880 Speaker 1: conflict in the Middle East, which is now spread to 20 00:00:58,920 --> 00:01:02,240 Speaker 1: a dozen countries, said oil prices surging today, although they 21 00:01:02,240 --> 00:01:05,240 Speaker 1: did come back somewhat and are currently trading up about 22 00:01:05,280 --> 00:01:08,600 Speaker 1: seven percent. The price of gold also jumped to above 23 00:01:08,880 --> 00:01:11,640 Speaker 1: five three hundred and fifty five US dollars an ounce, 24 00:01:11,920 --> 00:01:15,200 Speaker 1: while the US dollars appreciating against other currencies as investors 25 00:01:15,200 --> 00:01:18,040 Speaker 1: look for quality assets, the Aussies buying just undred seventy 26 00:01:18,040 --> 00:01:21,280 Speaker 1: one US sense. Attacks in the Middle East continued throughout 27 00:01:21,319 --> 00:01:24,080 Speaker 1: the last twenty four hours, and US President Donald Trump 28 00:01:24,160 --> 00:01:26,720 Speaker 1: said the conflict could last for at least four weeks. 29 00:01:27,319 --> 00:01:30,360 Speaker 1: Story number three. Corporate profits in Australia rose by nearly 30 00:01:30,360 --> 00:01:33,000 Speaker 1: six percent in the December quarter, well ahead of expectations. 31 00:01:33,040 --> 00:01:36,000 Speaker 1: According to the Australian Bureau of Statistics. It was the 32 00:01:36,080 --> 00:01:40,199 Speaker 1: second straight quarter of strong profit increases. Mining profits picked 33 00:01:40,240 --> 00:01:43,560 Speaker 1: up most they jumped eight percent, followed by wholesale trade 34 00:01:43,640 --> 00:01:47,600 Speaker 1: and accommodation in food services. Profits also rebounded in manufacturing, 35 00:01:47,640 --> 00:01:51,720 Speaker 1: while retail trade was flat and administrative and support services 36 00:01:51,760 --> 00:01:55,960 Speaker 1: went backwards. Story number four. ASX listed funds management group 37 00:01:56,000 --> 00:02:00,680 Speaker 1: Macgellen will merge with investment bank Baron Joey Fecally, bringing 38 00:02:00,680 --> 00:02:06,040 Speaker 1: together several of the country's highest profile finance executives. Magellan 39 00:02:06,120 --> 00:02:08,600 Speaker 1: already owns thirty six percent of Baron Joey and has 40 00:02:08,639 --> 00:02:12,040 Speaker 1: backed it since its inception. It'll spend at nine hundred 41 00:02:12,080 --> 00:02:14,600 Speaker 1: million dollars to buy the stake it doesn't own. While 42 00:02:14,639 --> 00:02:17,799 Speaker 1: Magellan has struggled in recent times, Baron Joey certainly hasn't. 43 00:02:17,800 --> 00:02:20,280 Speaker 1: It's been booming in the last twelve months. The investment 44 00:02:20,320 --> 00:02:22,760 Speaker 1: bank delivered one hundred and eight million dollar profit. Was 45 00:02:22,800 --> 00:02:25,919 Speaker 1: founded back in twenty twenty by former UBS bankers Guy 46 00:02:26,000 --> 00:02:28,560 Speaker 1: Fowler and Matthew Ground's. The chair of the group will 47 00:02:28,600 --> 00:02:32,280 Speaker 1: be David Gonski, perhaps Stodi's best own investment banker. Brian Binari, 48 00:02:32,400 --> 00:02:34,800 Speaker 1: the CEO of Baron Joey, will become boss of the 49 00:02:34,880 --> 00:02:38,320 Speaker 1: combined group, and finally, story number five. Two people were 50 00:02:38,400 --> 00:02:41,440 Speaker 1: killed and over a dozen injured in a shooting outside 51 00:02:41,440 --> 00:02:44,480 Speaker 1: a beer garden in Austin, Texas, In an incident the 52 00:02:44,520 --> 00:02:47,880 Speaker 1: FBI says may be related to terrorism. The suspect is 53 00:02:47,919 --> 00:02:52,160 Speaker 1: a naturalized American citizen born in Senegal. According to CBSUS 54 00:02:52,200 --> 00:02:54,960 Speaker 1: and other US medium After responding to calls for an 55 00:02:55,000 --> 00:02:58,480 Speaker 1: active shooter, police said that they shot and killed the suspect, 56 00:02:58,480 --> 00:03:01,440 Speaker 1: bringing the death poll to three. Police have not offered 57 00:03:01,480 --> 00:03:04,840 Speaker 1: a motive and have not officially identified the suspect. Of 58 00:03:04,919 --> 00:03:07,959 Speaker 1: the survivors, fourteen were taken a hospital, three in a 59 00:03:08,000 --> 00:03:12,520 Speaker 1: critical condition. Two sources familiar with the investigation told CBS 60 00:03:12,520 --> 00:03:15,560 Speaker 1: News that the gunman was wearing a sweatshirt with the 61 00:03:15,639 --> 00:03:18,760 Speaker 1: words property of Allah on it. That's it for the 62 00:03:18,800 --> 00:03:21,600 Speaker 1: afternoon report for Monday, the second of March twenty twenty six. 63 00:03:21,639 --> 00:03:24,160 Speaker 1: Make sure you're following the podcast and headlong to Fear 64 00:03:24,200 --> 00:03:25,679 Speaker 1: in Grief dot com Today you to sign up for 65 00:03:25,720 --> 00:03:29,000 Speaker 1: our free daily newsletter. I'm chanelma Enjoy your evening.