1 00:00:03,720 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,480 --> 00:00:08,920 Speaker 1: for Monday, the eighth of July twenty twenty four. I'm 3 00:00:08,960 --> 00:00:11,760 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:11,800 --> 00:00:13,960 Speaker 1: happened today that you need to know about. Strotum one. 5 00:00:14,000 --> 00:00:16,760 Speaker 1: The S and PASX two hundred closed down a zero 6 00:00:16,760 --> 00:00:19,200 Speaker 1: point eight percent. Today it is seven seven hundred and 7 00:00:19,239 --> 00:00:21,840 Speaker 1: sixty three points, with a drop in nine all futures 8 00:00:21,880 --> 00:00:24,840 Speaker 1: hitting The big three miners, THEHP REO and four s 9 00:00:24,920 --> 00:00:27,920 Speaker 1: Q Metals Group all dropped more than two percent. Energy 10 00:00:27,920 --> 00:00:32,080 Speaker 1: stocks also underperformed, as did healthcare and real estate investment trusts. 11 00:00:32,240 --> 00:00:34,600 Speaker 1: West Farmers was the best of the large caps, rising 12 00:00:34,640 --> 00:00:37,960 Speaker 1: one point three percent. Fair bit of corporate news around 13 00:00:38,000 --> 00:00:41,320 Speaker 1: Sun Corp fell two point three percent after mcquarie analysts 14 00:00:41,360 --> 00:00:44,000 Speaker 1: downgraded the group from outperformed to neutral based on its 15 00:00:44,080 --> 00:00:48,200 Speaker 1: valuation La Nina weather pattern in the group's relatively low 16 00:00:48,320 --> 00:00:51,440 Speaker 1: reinsurance cover. Cow Lithium said it mined more of the 17 00:00:51,479 --> 00:00:54,880 Speaker 1: silvery white metal than expected and notwithstanding the slump in 18 00:00:55,000 --> 00:01:00,280 Speaker 1: lithium prices caused share price jumped ten percent. Gq UG 19 00:01:00,480 --> 00:01:03,200 Speaker 1: Partners said funds under management have reached two hundred and 20 00:01:03,200 --> 00:01:05,720 Speaker 1: thirty billion dollars, with almost ten billion dollars in US 21 00:01:05,760 --> 00:01:08,640 Speaker 1: that's last quarter. Its share price initially surged, though it 22 00:01:08,680 --> 00:01:11,000 Speaker 1: did finish the day down more than three percent, but 23 00:01:11,480 --> 00:01:14,520 Speaker 1: GQG stock is up more than seventy percent so far 24 00:01:14,680 --> 00:01:18,200 Speaker 1: in twenty twenty four, and the share price of IDP Education, 25 00:01:18,319 --> 00:01:22,039 Speaker 1: which provides international education services, hit its lowest point in 26 00:01:22,040 --> 00:01:25,880 Speaker 1: almost four years, down another one percent today. IDP office 27 00:01:25,880 --> 00:01:29,240 Speaker 1: services in Australia, Canada and the UK, but the governments 28 00:01:29,240 --> 00:01:32,160 Speaker 1: in those countries are tightening visa and immigration rules, reducing 29 00:01:32,160 --> 00:01:35,039 Speaker 1: potential customers for the group. Its share prices off twenty 30 00:01:35,080 --> 00:01:38,040 Speaker 1: eight percent so far this year. Storying number two. There's 31 00:01:38,040 --> 00:01:41,160 Speaker 1: been a bunch of gold miners reporting quarterly production figures, 32 00:01:41,319 --> 00:01:44,800 Speaker 1: and generally investors have been impressed with the outcomes. Today, 33 00:01:44,920 --> 00:01:48,080 Speaker 1: Romilias posted record goal production for the last financial year 34 00:01:48,080 --> 00:01:50,640 Speaker 1: of two hundred and ninety three thousand ounces. Its share 35 00:01:50,640 --> 00:01:53,920 Speaker 1: price rows two percent. Regis said production was at the 36 00:01:53,960 --> 00:01:57,160 Speaker 1: lower end of expectations four hundred and eighteen thousand ounces 37 00:01:57,160 --> 00:02:00,720 Speaker 1: for the year, but higher prices that meant record cash levels. 38 00:02:00,760 --> 00:02:04,080 Speaker 1: Its share price closed flat. The All Ordinary Gold INDECKS, 39 00:02:04,120 --> 00:02:07,480 Speaker 1: which measures the gold stocks was up one percent today. 40 00:02:07,960 --> 00:02:10,639 Speaker 1: Story number three. The total value of new housing loans 41 00:02:10,720 --> 00:02:13,519 Speaker 1: fell by nearly two percent during May, with the biggest 42 00:02:13,520 --> 00:02:17,080 Speaker 1: forecoming among first home buyers. While the value is down 43 00:02:17,320 --> 00:02:19,720 Speaker 1: during the month. Over the past year, new home loan 44 00:02:19,720 --> 00:02:23,480 Speaker 1: commitments have risen eighteen percent, with loans to investors growing 45 00:02:23,560 --> 00:02:27,440 Speaker 1: faster than loans to own occupiers. New South Wales, Queensland 46 00:02:27,480 --> 00:02:30,120 Speaker 1: and Western Australia are leading the way in terms of 47 00:02:30,160 --> 00:02:32,400 Speaker 1: new loans over the past year, with loans in the 48 00:02:32,400 --> 00:02:37,360 Speaker 1: Sunshine State now exceeding Victoria. That's also reflected in loan size, 49 00:02:37,360 --> 00:02:39,720 Speaker 1: with Queensland as taking out an average loan of five 50 00:02:39,800 --> 00:02:43,160 Speaker 1: hundred and eighty thousand dollars during May compared to five 51 00:02:43,240 --> 00:02:46,880 Speaker 1: hundred and sixty six thousand for Victorians. Story number four. 52 00:02:46,960 --> 00:02:49,760 Speaker 1: A curfew has been introduced from ten pm to six 53 00:02:50,080 --> 00:02:53,560 Speaker 1: am over the next three nights in Alice Springs after 54 00:02:53,600 --> 00:02:57,160 Speaker 1: four off duty police officers were allegedly assaulted by a 55 00:02:57,160 --> 00:03:01,440 Speaker 1: group of twenty male youths yesterday morning. Addressing reporters in 56 00:03:01,480 --> 00:03:05,000 Speaker 1: Our Springs this afternoon, Northern Territory Police Commissioner Michael Murphy 57 00:03:05,280 --> 00:03:08,119 Speaker 1: said the decision to impose the curfew had followed careful 58 00:03:08,240 --> 00:03:11,280 Speaker 1: consideration over the impact of the measure on the local community. 59 00:03:11,560 --> 00:03:14,320 Speaker 1: He said he was mindful about the decision to support 60 00:03:14,440 --> 00:03:17,680 Speaker 1: Nadock Week, adding that community support is needed to solve 61 00:03:17,800 --> 00:03:20,720 Speaker 1: longer term issues in our Springs. Mister Murphy said the 62 00:03:20,760 --> 00:03:23,920 Speaker 1: answer is it in the criminal justice system, but rather 63 00:03:24,000 --> 00:03:26,880 Speaker 1: in the community and the leadership. Police will patrol the 64 00:03:26,919 --> 00:03:29,600 Speaker 1: center of our Springs from ten pm to six am, 65 00:03:29,720 --> 00:03:32,040 Speaker 1: ensuring only people with the lawful reason are in the 66 00:03:32,120 --> 00:03:36,200 Speaker 1: area and our lawful excuses include fleeing domestic violence, caring 67 00:03:36,240 --> 00:03:39,080 Speaker 1: for a family member, work, or going to a fast 68 00:03:39,120 --> 00:03:42,640 Speaker 1: food restaurant. Mister Murphy said police were exploring more alcohol 69 00:03:42,680 --> 00:03:45,760 Speaker 1: restrictions as well. And story number five Copper and goal 70 00:03:45,840 --> 00:03:49,640 Speaker 1: developer REX Minerals share price jump sixty percent today after 71 00:03:49,680 --> 00:03:53,440 Speaker 1: a bid by a group back by Indonesia's wealthy Salim family. 72 00:03:54,000 --> 00:03:57,280 Speaker 1: Rex has entered into a scheme implementation deed with Mac 73 00:03:57,440 --> 00:04:00,560 Speaker 1: Metal's Australia. It value is the minor three hundred and 74 00:04:00,600 --> 00:04:03,440 Speaker 1: ninety three million dollars. Mac is already a major shareholder 75 00:04:03,680 --> 00:04:06,440 Speaker 1: in the South Australian group and the board of Rex 76 00:04:06,560 --> 00:04:09,560 Speaker 1: supports the bid. It will have to undergo Foreign Investment 77 00:04:09,560 --> 00:04:12,840 Speaker 1: Review Board and shareholder approval before it gets over the line. 78 00:04:12,960 --> 00:04:15,360 Speaker 1: That's it's the Afternoon Report for Monday, the eighth of 79 00:04:15,440 --> 00:04:17,880 Speaker 1: July twenty twenty four. Michael Thompson and I will be 80 00:04:17,880 --> 00:04:20,120 Speaker 1: back tomorrow morning with a Tuesday edition off beer and 81 00:04:20,200 --> 00:04:23,400 Speaker 1: Greek business news. I'm seanielma Enjoy your evening.