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

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Speaker 1: for Wednesday, the nineteenth of June twenty twenty four. I'm

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Speaker 1: Sean Almam. Every afternoon, We've got the five stories that

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Speaker 1: happen today that you need to know about. Story number one,

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Speaker 1: the SMPA SEX two hundred closed down slightly today, zero

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Speaker 1: point one percent to seven thousand, seven hundred and seventy points.

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Speaker 1: It wasn't a huge amount of movement, though. Energy stocks

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Speaker 1: did best while industrials with the laggards among the large

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Speaker 1: caps of Macquarry and the energy giants Woodside and Santos

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Speaker 1: all rose more than one percent. The banks were mixed,

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Speaker 1: while Goodman Group, Ria and Aristocrat Leisure all underperformed. Uranium

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Speaker 1: stocks including Paladin Energy, Deep Yellow, Bannerman, and Boss Energy

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Speaker 1: all rose following opposition leader Peter Dutton's announcement that the

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Speaker 1: coalition plans to build seven reactors if elected at the

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Speaker 1: next federal election. Story number two incorporate news Downer EDI

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Speaker 1: has been awarded a new contract by NBN valued at

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Speaker 1: more than one hundred million dollars. Fletcher Building will divest

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Speaker 1: fifty percent of its FIG business to two local partners

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Speaker 1: for forty million New Zealand dollars. Pharmaceutical developer botanis Will

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Speaker 1: has paused trading of its shares pending the outcome of

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Speaker 1: the US Food and Drug Administration's review of the company's

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Speaker 1: soft dra product Sofdra product it's designed to treat excessive sweating.

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Speaker 1: That one shares and heally A Group tumble twenty one

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Speaker 1: percent after Commonwealth Bank flagged potential changes to the company's

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Speaker 1: existing lenders mortgage insurance contract. It was the worst of

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Speaker 1: the top two hundred today CSR after sixty two years

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Speaker 1: on the AX. Delisted today haven't been bought by French

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Speaker 1: group Saint Germain, but Goodman E. Gomez is set to

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Speaker 1: launch on the ASEX tomorrow as his Vanex Bitcoin Exchange

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Speaker 1: traded fund. Story number three. Australia's bird flew outbreak has worsened,

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Speaker 1: with a strain of the disease detected on a New

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Speaker 1: South Wales egg farm. After being found on seven properties

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Speaker 1: in Victoria. The avian influenza has been picked up in

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Speaker 1: the Hawksbury district, north of Sydney, though the strain is

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Speaker 1: different to that detected in Victoria. The H seven eight

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Speaker 1: strained found in New South Wales is believed to be

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Speaker 1: a spillover event, possibly from wild birds. New South Wales

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Speaker 1: officials engage the state's Emergency bio Security Incident Plan, sending

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Speaker 1: the farm into quarantine and triggering movement controls in the area.

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Speaker 1: It notes that the highly pathogenic disease spreads quickly and

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Speaker 1: has a high mortality rate among poultry birds, requiring the

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Speaker 1: farm lockdown. According to AAP, the H seven N three

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Speaker 1: strain is the one found at a seventh Victorian farm.

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Speaker 1: That farm is already in quarantine. It's on the Golden

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Speaker 1: Plains Shire and the state Central West. It's expected that

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Speaker 1: more than one million chickens and ducks will be killed

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Speaker 1: to stem the outbreak. Story number four ensurre QBE will

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Speaker 1: close its North American middle market business, saying the segment

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Speaker 1: has experienced performance challenges over several years. The region has

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Speaker 1: been a problem tool for QBE for some time, and

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Speaker 1: the group no longer be renewing mid market policies in

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Speaker 1: the region, but will refocus on geographies where it's got

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Speaker 1: more meaningful market position, relevance and scale. QB will book

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Speaker 1: a one hundred million US dollar restructuring charge. Its share

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Speaker 1: price today fell four percent. Now mostly that was on

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Speaker 1: the back of its trading update. QBE operates in Australia, Europe,

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Speaker 1: North American and Asia. It said premiums were still growing

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Speaker 1: and catastrophe playouts for the full year to the end

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Speaker 1: of August are likely to come in below expectations. Its

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Speaker 1: investment returns have also improved, but investors wanted more, hence

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Speaker 1: the sell off and storry at number five, a French

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Speaker 1: backed renewables developer, will proceed with your second stage of

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Speaker 1: Omega four billion dollar wind farm in Victoria, the biggest

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Speaker 1: in the country, even though there is an absence of

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Speaker 1: signed up customers. Tag Energy has signed a financing deal

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Speaker 1: with a government's green bank and a range of domestic

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Speaker 1: and overseas commercial lenders for the more than one point

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Speaker 1: eight billion dollar second stage of the one point three

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Speaker 1: to three giga what Golden placeanes project near Geelong. According

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Speaker 1: to a story in The Afarm, The commitment to build

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Speaker 1: the five hundred and seventy seven megawatt expansion comes after

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Speaker 1: Origin last week said it will keep ownership of wind

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Speaker 1: and solar farms to a minimum. Agol Energy also came

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Speaker 1: out and described the investment case for new wind generation

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Speaker 1: as tricky, but TAG Energy is confident that energy prices

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Speaker 1: will rise to underpin the new projects. That's it for

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Speaker 1: the Afternoon Report for Wednesday, the nineteenth of June twenty

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Speaker 1: twenty four. Don't forget tip follow on the podcast and

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Speaker 1: find Fear and Greed on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: Join Michael Thoms and I Tomorrow'm morning for the Fast

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Speaker 1: five by Fear and Greed, the top five business stories

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Speaker 1: you need to know in just five minutes. I'm Shoan Elmer.

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Speaker 1: Enjoy your evening