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

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Speaker 1: for Tuesday, the eleventh of November. I'm Michael Thompson, and

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Speaker 1: every afternoon we bring you the five big stories that

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Speaker 1: happen today that you need to know about. Let's get

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Speaker 1: cracking with story number one. The S and PA SX

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Speaker 1: two hundred closed zero point two percent lower today to

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Speaker 1: eight hundred and nineteen points and would have actually gained

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Speaker 1: ground if not for the Commonwealth Bank. Shares in Australia's

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Speaker 1: biggest company fell six point six percent today as investors

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Speaker 1: sold off the stock. The bank reported a two point

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Speaker 1: six billion dollar cash profit in the September quarter, but

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Speaker 1: there were concerns about higher costs and the net interest margin.

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Speaker 1: We're going to have more on this story tomorrow, but

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Speaker 1: six point six percent is a big drop for such

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Speaker 1: a big company, and without it, we had nine of

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Speaker 1: the eleven sectors on the ASEX actually finishing in the green.

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Speaker 1: After a strong lead in from Wall Street, amid optimism

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Speaker 1: about the reopening of the US government the potential for

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Speaker 1: more interest rate cuts in the world biggest economy, the

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Speaker 1: price of gold climbed our gold miners benefited once again.

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Speaker 1: He had Newmont up four point three percent, Northern Star

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Speaker 1: more than three percent higher, Evolution Mining up almost two percent.

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Speaker 1: Lithium stocks doing well. Pilbrim Minerals now known as PLS

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Speaker 1: was up seven point seven percent. Mineral Resources climbed six percent.

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Speaker 1: It wasn't all Commonwealth Bank. The tech stocks didn't do

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Speaker 1: so well. Life three sixty the monitoring app was off

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Speaker 1: more than five percent. Bendigo Bank is worth a mention too.

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Speaker 1: It fell eight and a half percent after a dropping

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Speaker 1: cash earnings. A solid day though for poker machine maker

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Speaker 1: Light and Wonder. It climbed eleven percent today on no

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Speaker 1: new news, just a good update from the company last week,

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Speaker 1: and apparently investors are still excited on destory number two now.

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Speaker 1: Prime Minister Anthony Abernezi has described the nineteen seventy five

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Speaker 1: dismissal of GoF Whitlam as a calculated plot rather than

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Speaker 1: a constitutional crisis, accusing the Opposition at the time of

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Speaker 1: conspiring with Governor General Sir John Kerr to remove a

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Speaker 1: democratically elected government. It is fifty years today since the dismissal,

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Speaker 1: and speaking at Old Parliament House to mark the occasion,

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Speaker 1: Albanezi said Conservative forces had quote sacrificed conventions and institutions

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Speaker 1: in the pursuit of power. He announced plans to commission

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Speaker 1: a statue of Whitlam to stand outside Old Parliament House.

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Speaker 1: The PM praised Whitlam's legacy, citing the creation of Medibank

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Speaker 1: free university education in the end of the White Australian policy.

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Speaker 1: Former Prime Minister Paul Keating, who was a junior minister

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Speaker 1: in the government at the time, has revealed he advised

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Speaker 1: Whitlam to have the Governor General arrested, but agreed that

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Speaker 1: it risked setting up a clash between the army and

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Speaker 1: the police. It is safe to say that GoF Whitlam

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Speaker 1: did not accept the advice.

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Speaker 2: Story number three. Australians have stopped to mark one hundred

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Speaker 2: and seven years since the end of World War One,

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Speaker 2: observing a minute silence on Remembrance Day to honor those

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Speaker 2: who died in conflict and peacekeeping operations. Ceremonies have been

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Speaker 2: held across the country, with Prime Minister Anthony Abernezi, Opposition

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Speaker 2: Leader Susan Lee joining Governor General Sam Moston at the

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Speaker 2: Australian War Memorial in Canberra. In Melbourne, traffic stopped across

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Speaker 2: eleven CBD intersections in Sydney. The Opera House was illuminated

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Speaker 2: with poppies at dawn, REMEMBERINGCE Day was originally known as

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Speaker 2: Armistice Day. It was renamed Remembrance Day after World War

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Speaker 2: II to honor those who were killed in both world wars,

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Speaker 2: and now commemorates the loss of Australian lives from all

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Speaker 2: wars and conflicts. Story number four. Australia's transport safety watchdog

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Speaker 2: says poor awareness of takeoff conditions almost led to two

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Speaker 2: catastrophic accidents at Melbourne Airport last year. A Malaysia Airlines

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Speaker 2: A three point thirty and a Bamboo Airways seven eight

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Speaker 2: seven each took off from a runway that had been

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Speaker 2: shortened for overnight works, clearing construction crews by just a

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Speaker 2: few meters. The Australian Transport Safety Bureau said both flight

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Speaker 2: crews miscalculated their takeoff distances right multiple warnings. Calling the

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Speaker 2: events very serious, the ATSB has urged tighter communication procedures

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Speaker 2: for runway changes after what it called the closest the

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Speaker 2: airport has come to disaster in years, and finally, Sorry

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Speaker 2: number five, the US Senate has now voted to end

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Speaker 2: the country's record breaking forty one day government shutdown, approving

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Speaker 2: a bipartisan deal to reopen federal agencies through to the

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Speaker 2: end of January. We mentioned this yesterday and again this

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Speaker 2: morning that it was likely to happen after another vote

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Speaker 2: cleared the way for it. In the end, eight Democrats

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Speaker 2: broke ranks to pass the bill, allowing President Donald Trump

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Speaker 2: to claim a partial victory after weeks of economic disruption

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Speaker 2: and plunging approval ratings. The deal guarantees back pay for

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Speaker 2: furloughed workers and restores federal food aid, though it doesn't

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Speaker 2: include an extension of expiring Obamacare subsidies, which was a

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Speaker 2: key Democratic demand. House Speaker Mike Johnson has recalled lawmakers

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Speaker 2: to Washington for a final vie in Congress, saying we

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Speaker 2: have to do this as quickly as possible. That's it

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Speaker 2: for the Afternoon Report for Tuesday, the eleventh of November.

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Speaker 2: Make sure you hit follow on the podcast and head

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Speaker 2: along to Fearangreed dot com dot au to sign up

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Speaker 2: for our free daily newsletter. I'll put a link in

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Speaker 2: today's show notes as well. I'm Michael Thompson. Enjoy your evening.