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

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Speaker 1: Report for Monday, the twenty first of October twenty twenty four.

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Speaker 1: I'm Sean Aylmer. Every afternoon, we've got the five stories

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

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Speaker 1: number one. The SMPA SEX two hundred closed up zero

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Speaker 1: point seven percent today. The eight thousand, three hundred and

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Speaker 1: forty four points close to a record high. The big

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Speaker 1: movers though, were Mineral Resources and Weis Tech Global, but

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Speaker 1: they went the other way on the back of corporate

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Speaker 1: governance concerns involving their respective founder CEOs. That's Chris Ellison

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Speaker 1: at Mineral Resources and Richard White at Weist Tech Global.

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Speaker 1: Their share prices tumbled more than thirteen percent. Otherwise, it's

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Speaker 1: a pretty good day with the boss trading at those

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Speaker 1: near record levels. Wall Street was stronger over the weekend.

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Speaker 1: They gave a good leading. Miners and healthcare stocks led

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Speaker 1: the way. The gold miners did well. BHP, Rio, Tinto

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Speaker 1: and Fourtescu Metals all did well in the back of

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Speaker 1: higher iron ore prices that they had plenty of friends,

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Speaker 1: Goodman Wes, Farmers Quarry Group, Woodside CSL aristocrat Leisure aria,

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Speaker 1: I could go on, I won't. On the other side,

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Speaker 1: perhaps among the large caps, the worst performer was Telstrap

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Speaker 1: story number two. ORIGIN energy boss Frank Calabria says the

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Speaker 1: energy transition is progressing, though it's messy due to challenges

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Speaker 1: around approvals from local communities. He said the growth in

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Speaker 1: data centers, in artificial intelligence and electric vehicles that's triggering

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Speaker 1: much of the demand on small nuclear reactors. Mister Clabria

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Speaker 1: said not enough information is available at the moment to

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Speaker 1: say if they're worth tax payers money. Commercialization costs and

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Speaker 1: scale are at least a decade away, he says, and

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Speaker 1: at the moment a small nuclear reactor is too risky

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Speaker 1: a project for Origin. The next major date for that

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Speaker 1: company is August twenty twenty seven. That's when they're closing

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Speaker 1: the Rahan coal power station. Three. Staying in the energy space,

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Speaker 1: the boss of the Australian Energy market operator, Daniel Westerman

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Speaker 1: said renewable energy is now the lowest cost form of energy.

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Speaker 1: Like mister Clabrea, mister Westerman was speaking at the Australian

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Speaker 1: Financial Reviews Energy and Climate Summit today. He said solar

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Speaker 1: power can exceed Australia's energy needs in the middle of

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Speaker 1: the day and in some states it's actually for longer

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Speaker 1: periods during the day where solar power is providing all

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Speaker 1: of the energy. In the future, a large amount of

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Speaker 1: storage is needed for the power system, according to mister Westerman.

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Speaker 1: Energy Minister Chris Bowden was also at the conference. He

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Speaker 1: announced an expansion in a scheme that encourages investment in wind,

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Speaker 1: solar and batteries straight um before. The new South Wales

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Speaker 1: state government is claiming that a decision to ban mobile

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Speaker 1: phones in the classroom last year has been a huge success.

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Speaker 1: The Education Department has done a survey of a thousand

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Speaker 1: public schools, no doubt as a result of that survey

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Speaker 1: there's huge support for the Ninety five percent of responders

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Speaker 1: reported positive results from the ban. Eighty one percent of

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Speaker 1: principles said learning had improved, eighty seven percent says students

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Speaker 1: were less distracted, eighty six percent said students are socializing

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Speaker 1: had improved and Story number five in Victoria, stamp duty

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Speaker 1: will be cut for all off the pan units, townhouses

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Speaker 1: and apartments in a twelve month stimulus plan by the

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Speaker 1: Allen government to encourage high density developments. The concession is

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Speaker 1: uncapped and it's available to everyone. The government estimates at

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Speaker 1: stamp duty on a six hundred and twenty thousand dollars

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Speaker 1: apartment goes from about thirty two thousand dollars to just

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Speaker 1: four thousand dollars. That's quite a saving. That's it for

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Speaker 1: the afternoon Report for Monday, the twenty first of October

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Speaker 1: twenty twenty four. Michael Thompson and I will be back

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Speaker 1: tomorrow morning with the Tuesday edition off Far and Greed

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Speaker 1: Business News. I'm Sean Elmer. Enjoy your evening