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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the third of November twenty twenty five. I'm

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Speaker 1: Michael Thompson, and every afternoon we bring you the five

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Speaker 1: big stories that happened today that you need to know about.

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Speaker 1: Let's get into it with story number one. The SMPA

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Speaker 1: SEX two hundred climbed zero point two percent today to

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Speaker 1: eight hundred and ninety five points. Five of the eleven

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Speaker 1: sectors gained ground. The banks had a good day after

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Speaker 1: Westpac reported a very solid set of full year figures.

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Speaker 1: It was up two point eight percent today, Commonwealth Bank

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Speaker 1: climb two point three percent, NAB and A and Z

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Speaker 1: were up almost one percent. The tech sector had a

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Speaker 1: good one too, Zero was up two point three percent,

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Speaker 1: and data and network company Megaport was the best performer

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Speaker 1: on the BOSS, up seven point six percent. An increase

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Speaker 1: in oil prices helped some of the energy companies. Woodside

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Speaker 1: and Santos were both up more than one percent after

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Speaker 1: OPEC plus said that it plans to pause increase in

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Speaker 1: output during the first quarter. At the other end of

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Speaker 1: the market, we've got to balance things out here. Healthcare

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Speaker 1: stocks didn't do so well today. Sleep ap near company

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Speaker 1: ResMed lost four point three percent, CSL is down one

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Speaker 1: point seven percent, and Cochlear closed more than one percent lower.

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Speaker 1: Story number two a favorit of corporate news around today,

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Speaker 1: defense tech company drone Shield has signed a twenty five

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Speaker 1: point three million dollar contract from a reseller that distributes

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Speaker 1: to a customer involved in government defense in Latin America.

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Speaker 1: It's all very cloak and dagger, isn't it quite mysterious?

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Speaker 1: ASX listed health Co Wellness Rite says it has received

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Speaker 1: all deferred rent from health Scope after the loss making

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Speaker 1: hospital operator failed to pay rent earlier this year. It

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Speaker 1: climbs seven point four percent today. This is an interesting one.

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Speaker 1: Domino's Pizza rallied after an announcement that it had signed

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Speaker 1: a binding agreement to sell its printing subsidiary business. I

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Speaker 1: don't know whether you even knew that there was a

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Speaker 1: printing component within Dominos, but it printed a lot of

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Speaker 1: the flyers and a lot of the in store signage

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Speaker 1: for the franchisees. This is part of the new executive

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Speaker 1: chair Jack Cowan's efforts to simplify the business and just

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Speaker 1: get back to selling pizza at its core. And finally,

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Speaker 1: Harvey Norman will extend its on market share buyback until

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Speaker 1: next November. It intends to buy up to ten percent

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Speaker 1: of shares on issue at a cost of about nine

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Speaker 1: hundred million dollars. Story number three Australia Post has brought

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Speaker 1: in consultants Bane and Code to help overhaul its operations

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Speaker 1: as it faces a steep decline in letter volumes and

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Speaker 1: also facing growing political pressure to keep post offices open.

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Speaker 1: The appointment comes after the government owned service returned to

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Speaker 1: a modest eighteen point eight million dollar pre tax profit

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Speaker 1: in the year to June thirty, helped by higher stamp prices,

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Speaker 1: of course, and also moving to every second day letter delivery.

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Speaker 1: Australia Posts said that Bain will quote complement internal capabilities

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Speaker 1: and strengthened business planning, but declined to actually detail the

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Speaker 1: scope or the cost of the work. The thing is.

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Speaker 1: Australia Post has previously engaged consultants PwC and Boston Consulting

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Speaker 1: Group for similar reviews, including one that actually proposed privatizing

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Speaker 1: the parcels component of the Australia Post business. That move

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Speaker 1: was rejected by the former Morrison government. Story number four.

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Speaker 1: Auction activity fell sharply last week, down thirty four percent.

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Speaker 1: As Melbourne paused for the Cup Carnival, the preliminary national

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Speaker 1: clearance rate slipped to seventy percent. That's the lowest in

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Speaker 1: twenty one weeks. Melbourne's success rate dropped to sixty six

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Speaker 1: percent across just five hundred and seven auctions our Sydney's

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Speaker 1: clearance rate improved a seventy point six percent. Brisbane saw

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Speaker 1: its best results since July, with almost seventy eight percent

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Speaker 1: clearance rate, Adelaide almost matching that number. Canberra and Perth

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Speaker 1: remained dude cotality where these figures came from, say that

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Speaker 1: auction volumes will surge again this week and next, with

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Speaker 1: around the three thy two hundred home scheduled to go

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Speaker 1: under the hammer across the nation's capitals. And finally, story

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Speaker 1: number five, how about this one? US President Donald Trump

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Speaker 1: is under fire for his decision to throw a somewhat

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Speaker 1: lavish Halloween party at his home in Florida at the

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Speaker 1: same time as millions of Americans are losing access to

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Speaker 1: federal food stamps Amida government shutdown. Australia appeared to be

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Speaker 1: quite well represented at the event at Marra Lago, with

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Speaker 1: photos showing Australia's richest person, Gina Reinhardt, speaking with the president.

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Speaker 1: It's also been reported that One Nation leader Pauline Hansen

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Speaker 1: was at the party. It was a Roaring twenties themed

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Speaker 1: gathering despite Parliament sitting today. We've had prominent US Democrats

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Speaker 1: criticizing the president's decision to hold the event, with California

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Speaker 1: Governor Gavin Newsom tweeting, or rather posting on x that

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Speaker 1: Donald Trump hosts a great gaps By, a great Gatsby

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Speaker 1: rather party. While snap benefits, those are the foodstamp benefits

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Speaker 1: were about to disappear for forty two million Americans. He said,

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Speaker 1: he does not give a damn about you. That's it

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Speaker 1: for the Afternoon Report for Monday, the third of November.

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Speaker 1: Make sure you hit follow on the podcast and head

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Speaker 1: along to Fearangreed dot com dot au to sign up

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Speaker 1: for our free daily newsletter. I'm Michael Thompson. Enjoy your

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Speaker 1: reef