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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 eight hundred and ninety five points. Five of the

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

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Speaker 1: after 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 apnar company Resmeed

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

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Speaker 1: 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. Don't

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Speaker 1: know whether you even knew that there was a printing

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Speaker 1: component within Dominoes, but it printed a lot of the

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

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

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

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Speaker 1: back to selling pizza at its core and finally Harvey

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Speaker 1: Norman will extend its on market share buyback until next November.

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Speaker 1: It intends to buy up to ten percent of shares

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Speaker 1: on issue at a cost of about nine hundred million dollars.

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Speaker 1: Story number three Australia Post has brought in consultants Bane

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Speaker 1: and Code to help overhaul its operations as it faces

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Speaker 1: a steep decline in letter volumes and also facing growing

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Speaker 1: political pressure to keep post offices open. The appointment comes

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Speaker 1: after the government owned service returned to a modest eighteen

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Speaker 1: point eight million dollar pre tax profit in the year

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Speaker 1: to June thirty, helped by higher stamp prices, of course,

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Speaker 1: and also moving to every second day letter deliver Australia

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

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

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

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

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

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

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

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

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

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

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

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Speaker 1: across just five hundred and seven auctions, while Sydney's clearance

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Speaker 1: rate improved to seventy point six percent. Brisbane saw its

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

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Speaker 1: Adelaide almost matching that number. Canberra and Perth remained subdued.

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Speaker 1: Totality where these figures came from. Say that auction volumes

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Speaker 1: will surge again this week and next, with around three

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Speaker 1: thy two hundred home scheduled to go under the hammer

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Speaker 1: across the nation's capitals. And finally, story number five, how

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Speaker 1: about this one? US President Donald Trump is under fire

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Speaker 1: for his decision to throw a somewhat lavish Halloween party

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Speaker 1: at his home in Florida at the same time as

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Speaker 1: millions of Americans are losing access to federal food stamps

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Speaker 1: amid a government shutdown. Australia appeared to be quite well

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Speaker 1: represented at the event at Marra Lago. With photos showing

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

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Speaker 1: also been reported that One Nation leader Pauline Hansen was

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

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

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

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

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Speaker 1: Trump hosted a great gaps By, a great Gatsby rather party.

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Speaker 1: While snap benefits, those are the foodstamp benefits were about

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

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

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

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

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Speaker 1: the Fearangreed dot com dot au to sign up for

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