1 00:00:03,160 --> 00:00:05,880 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:05,920 --> 00:00:08,799 Speaker 1: for Tuesday, the eleventh of March twenty twenty five. I'm 3 00:00:08,800 --> 00:00:11,879 Speaker 1: sure in Aylma. Every afternoon. We've got the five stories 4 00:00:11,920 --> 00:00:13,880 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,000 --> 00:00:17,040 Speaker 1: number one, high end housing auctions across the country show 6 00:00:17,200 --> 00:00:20,840 Speaker 1: strong growth in prices, at least they did last month, 7 00:00:20,920 --> 00:00:22,920 Speaker 1: which can be an indicator of a pickup in the 8 00:00:23,000 --> 00:00:27,120 Speaker 1: overall market. It's the bell Weather segment that top twenty 9 00:00:27,160 --> 00:00:30,560 Speaker 1: five percent of homes. They raise zero point two percent 10 00:00:30,600 --> 00:00:34,400 Speaker 1: in February, having fallen zero point three percent in January. 11 00:00:34,600 --> 00:00:37,640 Speaker 1: Now the lower quartle outperformed the top quartile, so the 12 00:00:37,680 --> 00:00:39,880 Speaker 1: lowest twenty five percent was up zero point four percent. 13 00:00:40,360 --> 00:00:44,000 Speaker 1: But the upper end has seen the sharpest turnaround. According 14 00:00:44,040 --> 00:00:47,280 Speaker 1: to core Logic. That's the end most sensitive to interest 15 00:00:47,320 --> 00:00:50,040 Speaker 1: rates and tends to lead the market. Sydney and Melbourne 16 00:00:50,080 --> 00:00:52,839 Speaker 1: houses and units have most to gain from a reduction 17 00:00:52,960 --> 00:00:56,280 Speaker 1: in rates, according to core Logic. Story number two. Business 18 00:00:56,280 --> 00:01:00,720 Speaker 1: confidence is deteriorating. According to the National Australia Bank Measure. 19 00:01:01,040 --> 00:01:03,560 Speaker 1: It turned even more negative in February and is now 20 00:01:03,640 --> 00:01:07,160 Speaker 1: worse than neutral. The NAB surveys often looked at in 21 00:01:07,280 --> 00:01:10,080 Speaker 1: terms of price pressures, and there's good news on that front. 22 00:01:10,080 --> 00:01:13,240 Speaker 1: Final product prices arising just half a percent per quarter. 23 00:01:13,640 --> 00:01:16,480 Speaker 1: That augu is well for future inflation readings. On the 24 00:01:16,480 --> 00:01:20,000 Speaker 1: consumer front, things are looking much better. In fact, sentiment 25 00:01:20,160 --> 00:01:22,959 Speaker 1: is at a three year high. Story number three. The 26 00:01:23,000 --> 00:01:26,080 Speaker 1: local share market closed down at nearly one percent today 27 00:01:26,120 --> 00:01:29,040 Speaker 1: to seven eight hundred and ninety points. Tech stocks were 28 00:01:29,120 --> 00:01:32,600 Speaker 1: hit hardest following a rough night on Wall Street. Among 29 00:01:32,720 --> 00:01:35,160 Speaker 1: the large caps, the big banks were mixed, as were 30 00:01:35,200 --> 00:01:38,880 Speaker 1: the big miners. The big supermarkets outperformed. Quantus went ex dividend, 31 00:01:38,959 --> 00:01:41,320 Speaker 1: but fell much more than the dividend payout to close 32 00:01:41,360 --> 00:01:44,400 Speaker 1: down eight percent. Story number four. There was a bit 33 00:01:44,440 --> 00:01:47,560 Speaker 1: of corporate news around today. Guzmani Gomez fell two and 34 00:01:47,600 --> 00:01:51,280 Speaker 1: a half percent after it released fifteen point four million 35 00:01:51,440 --> 00:01:55,600 Speaker 1: shares from escrow together worth round five hundred and fifteen 36 00:01:55,600 --> 00:01:57,920 Speaker 1: million dollars. That means a bunch of people can now 37 00:01:58,120 --> 00:02:01,280 Speaker 1: sell those shares and potentially get very rich. Sun Corpus 38 00:02:01,280 --> 00:02:04,840 Speaker 1: told investors the majority of insurance claims lodged after ex 39 00:02:04,960 --> 00:02:09,240 Speaker 1: tropical cyclone Alfred fell within the government's cyclone reinsurance pool. 40 00:02:09,280 --> 00:02:12,960 Speaker 1: Coverage period, though added it is still receiving claims. Nickel 41 00:02:13,000 --> 00:02:16,280 Speaker 1: Industry's share price doubled eighteen percent after a large investor 42 00:02:16,320 --> 00:02:19,760 Speaker 1: looks to have sold out, and Star Entertainment has confirmed 43 00:02:19,800 --> 00:02:23,960 Speaker 1: its negotiating with property funds Management Giet Salter Brothers for 44 00:02:24,000 --> 00:02:27,840 Speaker 1: a seven hundred and fifty million dollar refinancing package that 45 00:02:28,000 --> 00:02:31,960 Speaker 1: will secure the ailing casino group's long term financial future. 46 00:02:32,480 --> 00:02:35,880 Speaker 1: And story number five, an anchored tanker carrying jet fuel 47 00:02:35,919 --> 00:02:39,480 Speaker 1: for the US military was struck by a container ship 48 00:02:39,560 --> 00:02:42,800 Speaker 1: in the North Sea, triggering explosions and a rescue operation 49 00:02:43,280 --> 00:02:46,079 Speaker 1: for the thirty seven mariners on board the vessels. The 50 00:02:46,160 --> 00:02:49,560 Speaker 1: collision sparked large fires on both ships. The tanker, the 51 00:02:49,720 --> 00:02:54,119 Speaker 1: Stannard Immaculate, was carrying eighteen thousand tons of jet A one, 52 00:02:54,520 --> 00:02:57,040 Speaker 1: a form of aviation fuel, and suffered a rupture to 53 00:02:57,080 --> 00:03:00,480 Speaker 1: a cargo tank. The UK's Maritime and Coastcard Aid Agency 54 00:03:00,840 --> 00:03:04,840 Speaker 1: said it had sent rescue helicopters, lifeboats and firefighting vessels 55 00:03:04,840 --> 00:03:07,960 Speaker 1: to the scene and it was assessing the likely counterpollution 56 00:03:08,400 --> 00:03:12,280 Speaker 1: response required. It's not immediately clear what caused the incident, 57 00:03:12,520 --> 00:03:14,880 Speaker 1: as if the afternoon report for Tuesday, the eleventh of 58 00:03:14,919 --> 00:03:16,880 Speaker 1: March twenty twenty five. Make sure you hit follow on 59 00:03:16,880 --> 00:03:19,520 Speaker 1: the podcast. We'll be back tomorrow morning with the Wednesday 60 00:03:19,639 --> 00:03:22,280 Speaker 1: edition of the Fast five Business News by Fear and Greed. 61 00:03:22,600 --> 00:03:24,680 Speaker 1: I'm schanelma Enjoy your evening.