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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the third of October twenty twenty four. I'm Sean Almer.

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one. The

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Speaker 1: s and PAX two hundred closed flat to eighty two

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Speaker 1: hundred and five points, with shares in commercial property groups

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Speaker 1: rising following an upbeat assessment from investment bank Baron Joey.

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Speaker 1: The Real Estate Investment Trust index on the ASX two

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Speaker 1: hundred closed up more than one percent. But really there

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Speaker 1: wasn't a lot of activity today. The banks were mixed,

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Speaker 1: so to the retailers and miners. Westpac is set to

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Speaker 1: make more than one billion dollars in proceeds from the

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Speaker 1: sale of its auto finance loan book to follow ASX

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Speaker 1: listed Resimac Group. Westpac's share price for one percent today.

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Speaker 1: Sigma Healthcare share price keeps running up seven percent today.

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Speaker 1: It's now jumped more than fifty percent since it gave

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Speaker 1: an undertaking to the ahable c about steel to merge

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Speaker 1: with Chemist Warehouse, and a note from Goldman Sachs suggested

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Speaker 1: investors switched from Guzmany Gomes shares to Colin's Foods, owner

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Speaker 1: of KFC. That pushed the share price of Colin's up

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Speaker 1: more than two percent and Goozman down five percent. I

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Speaker 1: do Goosman's share price is still more than double its

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Speaker 1: listing price back on June twenty, straightt number two. As

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Speaker 1: the crisis in the Middle East worsens, pro Palestine organizers

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Speaker 1: in Sydney have dumped plans to hold a rally to

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Speaker 1: mark the one year anniversary of the Himas invasion of Israel.

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Speaker 1: Earlier today, New South Wales Premier Chris Mint said any

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Speaker 1: protest shows no sympathy for the fact that this was

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Speaker 1: a terrible terrorist incident in Israel and there are people

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Speaker 1: who are grieving and it would be distasteful at best.

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Speaker 1: He made an application to stop the protest ahead of

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Speaker 1: the organizer's decision to pull the plug. Meanwhile, Opposition leader

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Speaker 1: Peter Dutton has accused Victorian Premier to Cinter Allen of

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Speaker 1: hiding behind an argument of convenience for not moving to

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Speaker 1: block planned anti Israel protests in Melbourne on that day,

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Speaker 1: October seven, Straight at number three. Canned Food Group SPC

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Speaker 1: is heading back to the ASX with reverse takeover of

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Speaker 1: Original Juice Co SPC was established more than one hundred

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Speaker 1: years ago as a farmer cooperative in Victoria, eventually listed

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Speaker 1: on the ASEX. Then in two thousand and five it

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Speaker 1: delisted after being bought by Coca Cola Emetol for about

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Speaker 1: seven hundred and fifty million dollars. A private equity group

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Speaker 1: bought the business from Coca Cola Emetal in twenty nineteen

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Speaker 1: for just forty million dollars. SPC will merge with Original

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Speaker 1: Juice Co, which is those small ASX listed stock the

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Speaker 1: Sheermark valuation of about fifty or fifty five million dollars.

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Speaker 1: It will then spend fifty million dollars to acquire Nature

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Speaker 1: One Dairies, Infant Formula and powdered milk business combined, and

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Speaker 1: your revenues will be about four hundred million dollars or thereabouts.

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Speaker 1: The main brands in the SPC business Spcardmono, Goldman and

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Speaker 1: Valley and pro Vital. The Original Juice Co is the

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Speaker 1: third largest orange juice producer in the country storry number four.

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Speaker 1: The des moin Cotton Louis Dreyfuss takeover Saga, which we

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Speaker 1: thought had ended yesterday, continues. The ASEX was forced to

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Speaker 1: app hundreds of thousands of dollars of trades in Nemoy

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Speaker 1: cotton after it failed to publish an updated takeover offer

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Speaker 1: from bidder Louis Dreyfus ahead of the shares trading. The

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Speaker 1: information should have been published by the AASEX ahead of

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Speaker 1: the opening on Tuesday. The information was certainly relevant. It

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Speaker 1: said that Louis Dreyfus had up its takeover offer to

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Speaker 1: seventy seven cents to share for Nemoi and had the

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Speaker 1: support of a major shareholder. That's relevant and definitely material.

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Speaker 1: But for some unknown reason well the AX said it

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Speaker 1: was a processing error. The announcement wasn't published between ten

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Speaker 1: oh six and ten twelve on Tuesday morning. Shares were

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Speaker 1: traded just below seventy cents to share when the revised

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Speaker 1: offer was for the full seventy seven cents share. In

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Speaker 1: the end, it probably doesn't make much difference. Louis Drefus

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Speaker 1: got Nemoy, but what if it was a much bigger deal?

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Speaker 1: Not a good look and story number five tes this

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Speaker 1: morning announced a jump in quarterly vehicle sales for the

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Speaker 1: three months to the end of September, though the rise

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Speaker 1: wasn't enough to keep investors. Happy investors were hoping for

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Speaker 1: more of it jump in sales in China. Over All,

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Speaker 1: nearly four hundred and sixty three thousand Teslas were sold

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Speaker 1: during the quarter, up six percent from a year earlier.

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Speaker 1: Tesla's share price fell three and a half percent, having

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Speaker 1: earlier dropped more than six percent. China's government has doubled

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Speaker 1: an incentive for consumers to trade in older cars for evs,

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Speaker 1: and alongside excitement around self driving prototypes, due to really shortly,

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Speaker 1: there were hopes that Tesla sales would be much higher.

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Speaker 1: It wasn't to be. That's it for the Outternoon Report

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Speaker 1: for Thursday, the third of October twenty twenty four. Don't

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Speaker 1: forget to follow on the podcast and find Fear and

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Speaker 1: Greed on LinkedIn, Instagram, x TikTok and Facebook. Joined Michael

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Speaker 1: Thompson and I Tomorrow I'm morning for the Fast Five

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Speaker 1: by Fear and Greed. Top five business stories you need

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Speaker 1: to know in five minutes. I'm Sean Elmer. Enjoy reading