1 00:00:03,520 --> 00:00:06,240 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,280 --> 00:00:09,000 Speaker 1: for Tuesday, the eighteenth of March twenty twenty five. I'm 3 00:00:09,000 --> 00:00:12,000 Speaker 1: sure in Alma every afternoon we've got the five stories 4 00:00:12,039 --> 00:00:13,880 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,000 --> 00:00:16,840 Speaker 1: number one. The S and p ASX two hundred closed 6 00:00:16,920 --> 00:00:20,440 Speaker 1: up just to touch six points to seven eight hundred 7 00:00:20,440 --> 00:00:23,520 Speaker 1: and sixty points. It started the day much higher than 8 00:00:23,640 --> 00:00:27,600 Speaker 1: retraced back towards its opening. Utility stocks did it best 9 00:00:27,640 --> 00:00:29,840 Speaker 1: on a rather quiet day, at least in terms of 10 00:00:29,840 --> 00:00:32,800 Speaker 1: share price movements. More than all the mixed session. Westpac 11 00:00:32,880 --> 00:00:35,120 Speaker 1: jump more than one percent, but National Australia Bank was 12 00:00:35,120 --> 00:00:37,480 Speaker 1: off more than two percent. Foro to Skew, Medals Group 13 00:00:37,600 --> 00:00:41,200 Speaker 1: was down two percent. Aristocrat Legend Mcquarie Group were both 14 00:00:41,360 --> 00:00:44,320 Speaker 1: off two and a half percent. They're both US facing companies. 15 00:00:44,560 --> 00:00:47,120 Speaker 1: Goodwin Group was a strong performer more than one percent. 16 00:00:47,400 --> 00:00:50,960 Speaker 1: Sorry number two. Spot gold hit another record this morning, 17 00:00:51,479 --> 00:00:55,920 Speaker 1: three thirteen dollars and ninety three US cents. That's announced, 18 00:00:55,920 --> 00:00:58,720 Speaker 1: of course, The Aussie dollar hit a three month high, 19 00:00:58,760 --> 00:01:01,600 Speaker 1: trading above sixty four US sense on the back of 20 00:01:01,640 --> 00:01:04,520 Speaker 1: green back weakness and copper, which is seen as a 21 00:01:04,520 --> 00:01:07,160 Speaker 1: benchmark of future growth. It's risen to a five month 22 00:01:07,240 --> 00:01:10,120 Speaker 1: high on the back of stimulus earlier this week out 23 00:01:10,160 --> 00:01:12,559 Speaker 1: of China, but iron Ore is back below one hundred 24 00:01:12,600 --> 00:01:14,480 Speaker 1: and two US dollars a ten. Not so good for 25 00:01:14,560 --> 00:01:18,000 Speaker 1: our local miners, sorry. Number three. The Reserve Bank's chief economist, 26 00:01:18,080 --> 00:01:22,000 Speaker 1: Sarah Hunter, is confident of an almost immediate pickup in 27 00:01:22,040 --> 00:01:25,080 Speaker 1: the building industry following the recent cut in interest rates. 28 00:01:25,360 --> 00:01:29,120 Speaker 1: The Reserve Bank cut interest rates in February. Doctor Hunter 29 00:01:29,200 --> 00:01:31,520 Speaker 1: said the full impact on growth takes about nine to 30 00:01:31,560 --> 00:01:34,760 Speaker 1: twelve months, the full impact on inflation about eighteen months, 31 00:01:34,800 --> 00:01:38,840 Speaker 1: but the building industry should be feeling the benefits pretty 32 00:01:38,920 --> 00:01:41,960 Speaker 1: much now. She also said the recent pickup in household 33 00:01:42,080 --> 00:01:46,240 Speaker 1: spending is real, which is definitely good news for the economy. Sorry. 34 00:01:46,360 --> 00:01:50,320 Speaker 1: Number four. Steel making will temporarily stop at the Willa 35 00:01:50,400 --> 00:01:53,919 Speaker 1: Steel Works after a specialist team of engineers from rival 36 00:01:53,960 --> 00:01:57,880 Speaker 1: steel maker Bluescope advised the administrative Corda Menta that urgent 37 00:01:57,920 --> 00:02:00,680 Speaker 1: capital spending is needed. The shut down of the blast 38 00:02:00,680 --> 00:02:03,840 Speaker 1: furnace will last for two days, begins tomorrow. According to 39 00:02:03,880 --> 00:02:06,760 Speaker 1: the finn Review, it demonstrates the uphill battle faced by 40 00:02:06,840 --> 00:02:09,960 Speaker 1: Cordamenta and stabilizing the plant and enticing a new buyer 41 00:02:10,000 --> 00:02:13,720 Speaker 1: for the business. Cordamenta hired Bluescope, which runs Australia's biggest 42 00:02:13,720 --> 00:02:16,799 Speaker 1: steel plant at Port Kembla in New South Wales, as 43 00:02:16,880 --> 00:02:19,800 Speaker 1: technical advisors to try and improve the stability of the 44 00:02:19,840 --> 00:02:23,160 Speaker 1: aging plant built in the late nineteen sixties by BHP 45 00:02:23,800 --> 00:02:27,919 Speaker 1: and Story number five. Israel has launched extensive strikes in Gaza, 46 00:02:28,440 --> 00:02:31,320 Speaker 1: saying it's hitting Hamas targets in what appears to be 47 00:02:31,360 --> 00:02:34,560 Speaker 1: the most intense assault on the enclave since a ceasefire 48 00:02:34,560 --> 00:02:38,560 Speaker 1: took effect in January. Israeli Prime Minister Benjamin Netanyahu's office 49 00:02:38,760 --> 00:02:42,000 Speaker 1: said that the country's military launched the attacks after the 50 00:02:42,040 --> 00:02:46,840 Speaker 1: Palestinian militant group's repeated refusal to release our hostages and 51 00:02:47,520 --> 00:02:50,640 Speaker 1: rejection of all of the proposals it has received from 52 00:02:50,760 --> 00:02:55,440 Speaker 1: US President Envoy Steve Whitkoff and from the mediators. Israel 53 00:02:55,480 --> 00:02:58,480 Speaker 1: will from now on act against Hamas, it says, with 54 00:02:58,560 --> 00:03:03,519 Speaker 1: increasing military strength. The Hamas run Health Ministry in Gaza 55 00:03:03,919 --> 00:03:06,680 Speaker 1: said more than two hundred people were killed in the 56 00:03:06,720 --> 00:03:10,359 Speaker 1: Israeli air strikes overnight. The first age of the ceasefire 57 00:03:10,360 --> 00:03:12,880 Speaker 1: between Israel and Hamas, which involved the return of Israeli 58 00:03:12,960 --> 00:03:17,280 Speaker 1: hostages in Gaza in exchange for Israel's release of Palestinian prisoners, 59 00:03:17,800 --> 00:03:21,400 Speaker 1: ended on March one. International mediators, including the US have 60 00:03:21,480 --> 00:03:23,640 Speaker 1: been trying to extend the truth and its secure the 61 00:03:23,680 --> 00:03:26,600 Speaker 1: release of the remaining hostages held by the militant group. 62 00:03:26,720 --> 00:03:29,400 Speaker 1: That'sip FEO Afternoon Report for Tuesday, the eighteenth of March 63 00:03:29,440 --> 00:03:31,799 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast. 64 00:03:31,840 --> 00:03:34,000 Speaker 1: We will be back tomorrow morning with the Wednesday edition 65 00:03:34,160 --> 00:03:36,520 Speaker 1: of the Fast five Business News by Fear and Greed. 66 00:03:36,800 --> 00:03:39,040 Speaker 1: I'm Sean Elma. Enjoy your evening.