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

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Speaker 1: for Monday, the twenty fourth of June twenty twenty four.

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Speaker 1: I'm Sean Elmer. Every afternoon, We've got the fire stories

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

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Speaker 1: number one. The SMPAX two hundred fell nearly one percent

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Speaker 1: today to seven seven hundred and thirty four points, led

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Speaker 1: lower by energy and healthcare stocks. Of the eleven SABER

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Speaker 1: indices on the ASX two hundred, only one ended in

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Speaker 1: the black. Industrials among the top ten stocks, nine went backwards,

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Speaker 1: with Wes Farmers and Fortescue Metals Group leading the way lower.

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Speaker 1: Only Macquarie Group closed the day higher. Other large caps

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Speaker 1: that drop sharply included QBE, Sun Corp, Woodside, Santos, Rio,

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Speaker 1: Telstra plenty of them. James Hardy was one of the

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Speaker 1: better performers, as were Brambles and Transurban Story number two.

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Speaker 1: In currency markets, the Aussie dollar is at a twelvemonth

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Speaker 1: high against the euro thanks to the turmoil in France,

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Speaker 1: where elections are due to be held in coming weeks.

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Speaker 1: One OZII dollar is buying sixty two euros at the moment.

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Speaker 1: The local unit is also doing well against a very

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Speaker 1: week yen, which is why so many OSSI's are heading

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Speaker 1: to Japan for holidays This year, one OSSI dollar is

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Speaker 1: buying one hundred and seven Japanese yen against the US dollar,

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Speaker 1: though the local dollar is still below the long run average,

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Speaker 1: trading around sixty six and a half few wees cents.

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Speaker 1: Story number three. There is a ninth farm reporting and

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Speaker 1: outbreak of avian flu in Victoria and New South Wales,

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Speaker 1: meaning the current spread is the largest instance of bird

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Speaker 1: flu in Australia. The latest outbreak is within the restricted

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Speaker 1: biosecurity zone one and a half klometers from the original

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Speaker 1: infected farm in New South Wales and the Hawksbury region

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Speaker 1: northwest of Sydney. The strain in New South Wales is

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Speaker 1: different to the strain in Victoria, and scientists suspect the

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Speaker 1: New South Wales strain is an infection carried by a

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Speaker 1: wild bird. Scientists say the rash of avian flu outbreaks

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Speaker 1: have been caused by wild birds traveling further south on

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Speaker 1: East Asia flight paths. Until this year's multiple infection outbreaks,

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Speaker 1: Australia had only seen seven bird flu outbreaks in over

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Speaker 1: fifty years. According to aap. New South Wales Agricultural Minister

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Speaker 1: Sue Moriarty said testing had shown the New South Wales

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Speaker 1: cases with not the H five N one strain that's

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Speaker 1: causing all sorts of problems overseas storing number four, an

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Speaker 1: exodus of high rollers, cost of living pressures and higher

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Speaker 1: remediation costs will hit Star Entertainment's full year earnings. It

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Speaker 1: comes as the gaming group is wamed here if it

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Speaker 1: can keep its Sydney casino license. While it's main at

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Speaker 1: gaming rooms are attracting customers, premium gaming rooms have declined,

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Speaker 1: particularly in Brisbane and the Gold Coast. The new center

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Speaker 1: Stars share price down five percent today. Starr also confirmed

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Speaker 1: that former chair David Foster has officially left the board

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Speaker 1: of the group and his position as interim chief executive.

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Speaker 1: Star said it expects to announce a new CEO in

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Speaker 1: the near term. The group is trying to sell non

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Speaker 1: core assets, particularly assets it owns in Brisbane. Adam bellsc

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Speaker 1: is due to deliver his latest report into Star by

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Speaker 1: the end of next month. In its closing submission, Star

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Speaker 1: conceded it is not suitable to operate a casino in

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Speaker 1: its own right, but believes it can run one subject

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Speaker 1: to conditions. It's also facing a multi million dollar penalty

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Speaker 1: from Financial Crimes watchdog for historical breaches of counter terrorism

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Speaker 1: and anti money laundering laws and story number five. Shares

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Speaker 1: in res Med fill more than thirteen percent today after

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Speaker 1: results over the weekend for a weight loss drug showed

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Speaker 1: benefits for people with obstructive sleep apnea. Res Med is

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Speaker 1: a sleep apnea company. Like many other pharmaceutical groups, it

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Speaker 1: is being hit by the success of the weight loss

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Speaker 1: drugs on the market at the moment, even though they

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Speaker 1: weren't really developed to treat sleep apnea. In Eli Lilly's

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Speaker 1: two Zerbetide diabetes and weight loss treatment trials, more than

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Speaker 1: fifty percent of participants with moderate to severe sleep apnea

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Speaker 1: met the criteria for disease resolution. No, I'm saying resolution

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Speaker 1: not alleviation, basically because obesity can be an underlying cause

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Speaker 1: of sleep apnea. The advance of weight loss drugs, known

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Speaker 1: as glp ones has triggered widespread concerns that an effective

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Speaker 1: obesity treatment could shrink the number of patients needing resmes

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Speaker 1: CPAP treatment for sleep apnea. That's it for the afternoon

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Speaker 1: report for Monday, the twenty fourth of June twenty twenty four,

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Speaker 1: Michael Thomas and I will be back tomorrow morning with

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Speaker 1: a Tuesday edition of Fear and Green Business News. I'm

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Speaker 1: chanelma enjoy evening.