1 00:00:03,930 --> 00:00:06,660 Sean Aylmer: Welcome to the Fear & Greed Afternoon report for Monday the 2 00:00:06,660 --> 00:00:10,469 Sean Aylmer: 19th of June 2023. I'm Sean Aylmer. Every afternoon, we've 3 00:00:10,469 --> 00:00:12,750 Sean Aylmer: got the five stories that happened today that you need 4 00:00:12,750 --> 00:00:15,750 Sean Aylmer: to know about. Story number one, the S& P/ ASX 200 5 00:00:16,020 --> 00:00:21,180 Sean Aylmer: finished up 0. 6% today to 7, 295 points. The 6 00:00:21,180 --> 00:00:25,560 Sean Aylmer: Star and Domino's Pizza are the two worst performers this 7 00:00:25,560 --> 00:00:29,100 Sean Aylmer: financial year, but they were two of the best today, 8 00:00:29,160 --> 00:00:33,119 Sean Aylmer: up 4. 5% and 4% respectively. On the flip side, it 9 00:00:33,120 --> 00:00:35,159 Sean Aylmer: was a tough day for the energy companies. With coal 10 00:00:35,159 --> 00:00:38,850 Sean Aylmer: prices lower, the banks were solid, the iron ore miners 11 00:00:38,880 --> 00:00:42,120 Sean Aylmer: weaker. Woolies had a good day, up 2. 5%, while Goodman 12 00:00:42,120 --> 00:00:47,159 Sean Aylmer: Grip, the industrial property giant, and toll road leader Transurban, 13 00:00:47,370 --> 00:00:50,309 Sean Aylmer: well, they both did pretty well also. The insurers, including 14 00:00:50,309 --> 00:00:53,879 Sean Aylmer: QBE and Suncorp, did well, while the tech stocks tended to 15 00:00:53,879 --> 00:00:59,190 Sean Aylmer: underperform. Story number two, the federal government's $ 10 billion housing fund has 16 00:00:59,190 --> 00:01:02,520 Sean Aylmer: been delayed yet again, this time for four months after 17 00:01:02,520 --> 00:01:05,880 Sean Aylmer: the Greens won a motion to postpone it. Green Senator 18 00:01:05,880 --> 00:01:09,569 Sean Aylmer: Sarah Hanson- Young moved an amendment to delay debate on 19 00:01:09,569 --> 00:01:12,780 Sean Aylmer: the housing bills until the middle of October. The amendment, 20 00:01:12,780 --> 00:01:15,720 Sean Aylmer: which passed after a vote, prevents the government from putting 21 00:01:15,720 --> 00:01:20,009 Sean Aylmer: the housing bills on the Senate program until October 16. 22 00:01:20,250 --> 00:01:22,589 Sean Aylmer: Now, the coalition is also opposed to the government's housing 23 00:01:22,590 --> 00:01:26,009 Sean Aylmer: policy and voted with the Greens. Plenty of other news 24 00:01:26,009 --> 00:01:28,768 Sean Aylmer: coming out of Parliament today with just a few days 25 00:01:28,770 --> 00:01:31,380 Sean Aylmer: left before the midwinter break. The bill to authorize the 26 00:01:31,380 --> 00:01:35,190 Sean Aylmer: voice referendum passed. A plan to stop junk food advertising 27 00:01:35,190 --> 00:01:37,950 Sean Aylmer: on TV and radio between 6: 00 AM and 9: 28 00:01:37,950 --> 00:01:41,520 Sean Aylmer: 30 PM will be introduced into Federal Parliament later this 29 00:01:41,520 --> 00:01:45,328 Sean Aylmer: week. There remains plenty of pressure on former liberal, now 30 00:01:45,330 --> 00:01:49,619 Sean Aylmer: independent, Senator David Van to leave Parliament after allegations of 31 00:01:49,620 --> 00:01:53,820 Sean Aylmer: inappropriate conduct by him. Prime Minister Anthony Albanese said his 32 00:01:53,820 --> 00:01:58,139 Sean Aylmer: government is in the process of improving workplace conduct standards 33 00:01:58,139 --> 00:02:00,719 Sean Aylmer: at Parliament House, but said, " It just takes time to 34 00:02:00,719 --> 00:02:03,929 Sean Aylmer: get it right." Story number three, Macquarie Group has emerged 35 00:02:03,929 --> 00:02:06,149 Sean Aylmer: as the front- runner to buy a stake of up 36 00:02:06,150 --> 00:02:11,010 Sean Aylmer: to 50% in EnergyAustralia, the country's third- biggest electricity and gas 37 00:02:11,010 --> 00:02:13,919 Sean Aylmer: supplier. The deal would be worth billions of dollars and 38 00:02:13,919 --> 00:02:18,120 Sean Aylmer: comes after EnergyAustralia's parent, Hong Kong listed as CLP Group, 39 00:02:18,419 --> 00:02:21,480 Sean Aylmer: has been looking for partnerships for the coal power business 40 00:02:21,719 --> 00:02:25,410 Sean Aylmer: to help invest to transition it to low carbon energy. 41 00:02:25,560 --> 00:02:28,230 Sean Aylmer: That's a big job. According to The Financial Review, while 42 00:02:28,230 --> 00:02:32,220 Sean Aylmer: CLP's in discussions to finalize a deal with Macquarie, sources 43 00:02:32,220 --> 00:02:35,730 Sean Aylmer: close to those discussions said talks with other interested parties 44 00:02:36,059 --> 00:02:38,939 Sean Aylmer: are continuing. Such a deal would represent a major step 45 00:02:38,940 --> 00:02:42,059 Sean Aylmer: in Macquarie's direct involvement in energy assets, especially in the 46 00:02:42,059 --> 00:02:45,120 Sean Aylmer: domestic market, where its involvement is pretty much limited to 47 00:02:45,120 --> 00:02:48,570 Sean Aylmer: just investing in battery storage. Any deal would ramp up 48 00:02:48,570 --> 00:02:52,768 Sean Aylmer: the restructuring taking place in Australia's gas and electricity sector. 49 00:02:53,040 --> 00:02:56,099 Sean Aylmer: Origin is currently the subject of an $ 18 billion takeover 50 00:02:56,099 --> 00:03:00,299 Sean Aylmer: bid from North American buyer Brookfield. AGL is rethinking its 51 00:03:00,299 --> 00:03:02,940 Sean Aylmer: strategy after a failed merger plan last year, and an 52 00:03:02,940 --> 00:03:06,600 Sean Aylmer: overhaul of the board forced by activist shareholder and tech 53 00:03:06,600 --> 00:03:10,200 Sean Aylmer: billionaire, Mike Cannon- Brookes. So plenty going on in that 54 00:03:10,200 --> 00:03:15,419 Sean Aylmer: sector. Story number four, embattled consulting group PwC has been 55 00:03:15,419 --> 00:03:19,139 Sean Aylmer: affected by a global hacking incident after a cyber breach 56 00:03:19,139 --> 00:03:22,919 Sean Aylmer: last week at MOVEit, a third- party platform designed to 57 00:03:22,919 --> 00:03:28,380 Sean Aylmer: transfer sensitive data between different companies. PwC uses the software 58 00:03:28,380 --> 00:03:31,258 Sean Aylmer: with only a limited number of client engagements, a spokesperson 59 00:03:31,258 --> 00:03:34,739 Sean Aylmer: for the company said. Initial investigations show that its own 60 00:03:35,190 --> 00:03:39,210 Sean Aylmer: IT network, that's PwC's network, hasn't been compromised and that 61 00:03:39,210 --> 00:03:42,720 Sean Aylmer: the cyber attack on MOVEit had a limited impact on 62 00:03:42,720 --> 00:03:46,469 Sean Aylmer: PwC. Now, some clients have been contacted though. The Russia- 63 00:03:46,469 --> 00:03:50,340 Sean Aylmer: linked extortion group C10P has claimed responsibility for the MOVEit 64 00:03:50,340 --> 00:03:53,790 Sean Aylmer: hack, which affected a bunch of companies and institutions globally, 65 00:03:54,000 --> 00:03:57,960 Sean Aylmer: including British Airways, the US Department of Energy, Shell, consulting 66 00:03:57,960 --> 00:04:01,920 Sean Aylmer: firm EY, and Johns Hopkins University. Finally, story number five, 67 00:04:01,950 --> 00:04:06,029 Sean Aylmer: US Secretary of State Antony Blinken met with China's top 68 00:04:06,030 --> 00:04:10,079 Sean Aylmer: foreign policy official in Beijing today hoping to stabilize strained 69 00:04:10,080 --> 00:04:13,950 Sean Aylmer: ties between the world's two largest economies. Blinken and Wang 70 00:04:13,950 --> 00:04:18,600 Sean Aylmer: Yi agreed to rebuild communication channels between the two. The 71 00:04:18,600 --> 00:04:21,839 Sean Aylmer: meeting comes after Blinken held a seven and a half 72 00:04:21,870 --> 00:04:25,589 Sean Aylmer: hour meeting with the Chinese foreign minister yesterday, which according 73 00:04:25,589 --> 00:04:29,459 Sean Aylmer: to Bloomberg both sides described as candid. There are hopes 74 00:04:29,459 --> 00:04:33,419 Sean Aylmer: Blinken will meet President Xi Jinping tonight. That exchange is 75 00:04:33,420 --> 00:04:36,779 Sean Aylmer: really the benchmark of success for the trip, especially after 76 00:04:36,779 --> 00:04:39,238 Sean Aylmer: the Chinese leader met with American billionaire Bill Gates in 77 00:04:39,240 --> 00:04:42,509 Sean Aylmer: Beijing last week. That's it for the Afternoon Report for Monday 78 00:04:42,509 --> 00:04:45,748 Sean Aylmer: the 19th of June 2023. Michael Thompson and I will 79 00:04:45,750 --> 00:04:47,999 Sean Aylmer: be back tomorrow morning with the Tuesday edition of Fear & 80 00:04:48,000 --> 00:04:50,430 Sean Aylmer: Greed. I'm Sean Aylmer, enjoy your evening.