1 00:00:03,680 --> 00:00:07,160 Speaker 1: Welcome to the Fearing Greed Business Newsday Afternoon Report for Wednesday, 2 00:00:07,240 --> 00:00:09,880 Speaker 1: the nineteenth of June twenty twenty four. I'm Sean Elma. 3 00:00:10,080 --> 00:00:12,479 Speaker 1: Every afternoon, We've got the five stories that happen today 4 00:00:12,480 --> 00:00:14,560 Speaker 1: that you need to know about. Story um one, The 5 00:00:14,600 --> 00:00:17,759 Speaker 1: S ANDPA SX two hundred closed down slightly today zero 6 00:00:17,760 --> 00:00:21,400 Speaker 1: point one percent seven seven hundred and seventy points. It 7 00:00:21,520 --> 00:00:24,160 Speaker 1: wasn't a huge amount of movement though. Energy stocks did 8 00:00:24,200 --> 00:00:27,560 Speaker 1: best while industrials with the laggards. Among the large caps, 9 00:00:27,680 --> 00:00:30,840 Speaker 1: Macquarry and the energy giants Woodside and Santos all rose 10 00:00:30,880 --> 00:00:34,000 Speaker 1: more than one percent. The banks were mixed, while Goodman Group, 11 00:00:34,240 --> 00:00:39,720 Speaker 1: Ria and Aristocrat Leisure all underperformed. Uranium stocks including Paladin Energy, 12 00:00:39,800 --> 00:00:43,599 Speaker 1: Deep Yellow, Bannerman, and Boss Energy all rose following opposition 13 00:00:43,680 --> 00:00:46,600 Speaker 1: leader Peter Dutton's announcement that the coalition plans to build 14 00:00:46,760 --> 00:00:51,720 Speaker 1: seven reactors if elected at the next federal election. Story 15 00:00:51,840 --> 00:00:55,120 Speaker 1: number two incorporate news Downer EEDI has been awarded a 16 00:00:55,120 --> 00:00:57,640 Speaker 1: new contract by NBN valued at more than one hundred 17 00:00:57,840 --> 00:01:01,440 Speaker 1: million dollars. Fletcher Building will divert fifty percent of its 18 00:01:01,480 --> 00:01:04,640 Speaker 1: FIG business to two local partners for forty million New 19 00:01:04,720 --> 00:01:09,319 Speaker 1: Zealand dollars. Pharmaceutical developer botanis Will has paused trading of 20 00:01:09,319 --> 00:01:11,920 Speaker 1: its shares pending the outcome of the US Food and 21 00:01:11,959 --> 00:01:16,480 Speaker 1: Drug Administration's review of the company's soft dra product Sofdra 22 00:01:16,680 --> 00:01:20,760 Speaker 1: product it's designed to treat excessive sweating. That one shares 23 00:01:20,800 --> 00:01:23,440 Speaker 1: and heally A Group tumble twenty one percent after Commonwealth 24 00:01:23,520 --> 00:01:27,440 Speaker 1: Bank flagged potential changes to the company's existing lenders mortgage 25 00:01:27,480 --> 00:01:30,039 Speaker 1: insurance contract. It was the worst of the top two 26 00:01:30,080 --> 00:01:33,880 Speaker 1: hundred today CSR after sixty two years on the AX. 27 00:01:34,120 --> 00:01:37,760 Speaker 1: Delisted today haven't been bought by a French group Saint Gerbain, 28 00:01:38,120 --> 00:01:40,600 Speaker 1: but Goodman E. Gomez is set to launch on the 29 00:01:40,600 --> 00:01:45,600 Speaker 1: ASEX tomorrow as his Vanex Bitcoin Exchange traded fund. Story 30 00:01:45,680 --> 00:01:48,320 Speaker 1: number three. Australia's bird flew outbreak has worsened, with a 31 00:01:48,360 --> 00:01:51,160 Speaker 1: strain of the disease detected on a New South Wales 32 00:01:51,240 --> 00:01:54,480 Speaker 1: egg farm. After being found on seven properties in Victoria. 33 00:01:54,880 --> 00:01:58,160 Speaker 1: The avian influenza has been picked up in the Hawksbury district, 34 00:01:58,200 --> 00:02:01,280 Speaker 1: north of Sydney, although the strain is different to that 35 00:02:01,440 --> 00:02:05,840 Speaker 1: detected in Victoria. The H seven eight strained found in 36 00:02:05,920 --> 00:02:08,520 Speaker 1: New South Wales is believed to be a spillover event, 37 00:02:08,840 --> 00:02:12,000 Speaker 1: possibly from wild birds. New South Wales officials engage the 38 00:02:12,000 --> 00:02:15,880 Speaker 1: state's Emergency bio Security Incident Plan, sending the farm into 39 00:02:15,919 --> 00:02:19,200 Speaker 1: quarantine and triggering movement controls in the area. It notes 40 00:02:19,240 --> 00:02:23,280 Speaker 1: that the highly pathogenic disease spreads quickly and has a 41 00:02:23,360 --> 00:02:27,760 Speaker 1: high mortality rate among poultry birds, requiring the farm lockdown. 42 00:02:27,800 --> 00:02:32,440 Speaker 1: According to AAP, the H seven N three strain is 43 00:02:32,440 --> 00:02:35,800 Speaker 1: the one found at a seventh Victorian farm. That farm 44 00:02:35,880 --> 00:02:38,800 Speaker 1: is already in quarantine. It's on the Golden Plains Shire 45 00:02:38,840 --> 00:02:41,919 Speaker 1: and the state Central West. It's expected that more than 46 00:02:41,919 --> 00:02:45,520 Speaker 1: one million chickens and ducks will be killed to stem 47 00:02:45,800 --> 00:02:50,120 Speaker 1: the outbreak. Story Number four ensure QBE will close its 48 00:02:50,120 --> 00:02:53,080 Speaker 1: North American middle market business, saying the segment has experienced 49 00:02:53,080 --> 00:02:56,520 Speaker 1: performance challenges over several years. The region has been a 50 00:02:56,560 --> 00:02:59,040 Speaker 1: problem tool for QBE for some time, and the group 51 00:02:59,080 --> 00:03:01,320 Speaker 1: will no longer be renew doing mid market policies in 52 00:03:01,360 --> 00:03:04,720 Speaker 1: the region, but will refocus on geographies where it's got 53 00:03:04,919 --> 00:03:09,680 Speaker 1: more meaningful market position, relevance and scale. QB will book 54 00:03:09,840 --> 00:03:13,160 Speaker 1: one hundred million US dollar restructuring charge. Its share price 55 00:03:13,400 --> 00:03:16,520 Speaker 1: today fell four percent. Now mostly that was on the 56 00:03:16,520 --> 00:03:20,000 Speaker 1: back of its trading update. QBE operates in Australia, Europe, 57 00:03:20,000 --> 00:03:23,800 Speaker 1: North American and Asia. It said premiums were still growing 58 00:03:24,440 --> 00:03:26,720 Speaker 1: and catastrophe playouts for the full year to the end 59 00:03:26,720 --> 00:03:30,040 Speaker 1: of August are likely to come in below expectations. Its 60 00:03:30,080 --> 00:03:34,360 Speaker 1: investment returns have also improved, but investors wanted more, hence 61 00:03:34,440 --> 00:03:38,040 Speaker 1: the selloff and storry at number five, a French backed 62 00:03:38,160 --> 00:03:41,320 Speaker 1: renewables developer, will proceed with your second stage of a 63 00:03:41,400 --> 00:03:44,640 Speaker 1: mega four billion dollar wind farm in Victoria, the biggest 64 00:03:44,680 --> 00:03:47,160 Speaker 1: in the country, even though there is an absence of 65 00:03:47,240 --> 00:03:51,040 Speaker 1: signed up customers. TAG Energy has signed a financing deal 66 00:03:51,080 --> 00:03:53,160 Speaker 1: with a government's green bank and a range of domestic 67 00:03:53,240 --> 00:03:55,720 Speaker 1: and overseas commercial lenders for the more than one point 68 00:03:55,760 --> 00:03:58,080 Speaker 1: eight billion dollar second stage of the one point three 69 00:03:58,120 --> 00:04:01,400 Speaker 1: to three giga what Golden Planes project near Geelong. According 70 00:04:01,440 --> 00:04:04,800 Speaker 1: to a story in the Afarm, The commitment to build 71 00:04:05,040 --> 00:04:07,880 Speaker 1: the five hundred and seventy seven megawatt expansion comes after 72 00:04:07,920 --> 00:04:10,680 Speaker 1: Origin last week said it will keep ownership of wind 73 00:04:10,800 --> 00:04:14,160 Speaker 1: and solar farms to a minimum. Ago Energy also came 74 00:04:14,200 --> 00:04:16,520 Speaker 1: out and described the investment case for new wind generation 75 00:04:16,680 --> 00:04:20,560 Speaker 1: as tricky. The TAG Energy is confident that energy prices 76 00:04:20,600 --> 00:04:23,320 Speaker 1: will rise to underpin the new projects. That's it for 77 00:04:23,360 --> 00:04:26,239 Speaker 1: the afternoon report for Wednesday, the nineteenth of June twenty 78 00:04:26,240 --> 00:04:28,400 Speaker 1: twenty four. Michael Thompson and I will be back tomorrow 79 00:04:28,480 --> 00:04:31,600 Speaker 1: morning with the Thursday edition Off Fear and Greed business News. 80 00:04:31,680 --> 00:04:33,559 Speaker 1: I'm Sean Elmer. Enjoy your evening.