1 00:00:04,160 --> 00:00:07,200 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,280 --> 00:00:10,119 Speaker 1: for Wednesday, the eighth of April twenty twenty six. I'm 3 00:00:10,160 --> 00:00:12,680 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,680 --> 00:00:14,920 Speaker 1: that happen today that you need to know about. Let's 5 00:00:14,960 --> 00:00:18,239 Speaker 1: get cracking with story number one. Wow. Local markets the 6 00:00:18,320 --> 00:00:22,160 Speaker 1: S and PASX two hundred surged two point six percent 7 00:00:22,320 --> 00:00:26,079 Speaker 1: higher today to eighty nine hundred and fifty two points. 8 00:00:26,400 --> 00:00:29,280 Speaker 1: That is the market's biggest gain in a year after 9 00:00:29,360 --> 00:00:31,600 Speaker 1: the US and I run agreed to a two week 10 00:00:31,680 --> 00:00:35,400 Speaker 1: ceasefire to negotiate an end to the conflict. The jump 11 00:00:35,479 --> 00:00:38,120 Speaker 1: added about eighty billion dollars in value to the local 12 00:00:38,120 --> 00:00:41,360 Speaker 1: boss and follows weeks of volatility. We've been talking about 13 00:00:41,360 --> 00:00:44,680 Speaker 1: it NonStop, so at various points it seemed as much 14 00:00:44,680 --> 00:00:49,200 Speaker 1: as three hundred billion dollars in value wiped from the market. Now. 15 00:00:49,400 --> 00:00:52,120 Speaker 1: News of the ceasefire and the reopening of the Strait 16 00:00:52,120 --> 00:00:56,279 Speaker 1: of muz saw oil prices plunged today, Brent crude down 17 00:00:56,360 --> 00:00:59,840 Speaker 1: more than fourteen percent to below ninety four US dollars 18 00:00:59,840 --> 00:01:03,840 Speaker 1: a barrel. The Aussie dollar climbed to just under seventy 19 00:01:03,920 --> 00:01:07,479 Speaker 1: one US cents, about seventy point eight US cents last 20 00:01:07,520 --> 00:01:11,119 Speaker 1: time I checked. Tech stocks rallied strongly today wise Tech 21 00:01:11,120 --> 00:01:14,760 Speaker 1: Global was up nearly eleven percent. Big gains for travel stocks. 22 00:01:14,880 --> 00:01:18,120 Speaker 1: Quantas was up nine point four percent. Virgin Australia jumped 23 00:01:18,200 --> 00:01:21,920 Speaker 1: twelve percent. Property companies also had a good day. A 24 00:01:22,040 --> 00:01:24,400 Speaker 1: Goodman Group was up more than seven percent. That was 25 00:01:24,440 --> 00:01:27,800 Speaker 1: partly over a US data center deal as well. Gold 26 00:01:27,800 --> 00:01:29,959 Speaker 1: Mine has climbed. How about some of these numbers. Newmont 27 00:01:30,240 --> 00:01:33,679 Speaker 1: up five percent, but Bellevue Gold almost nineteen percent, or 28 00:01:33,720 --> 00:01:37,040 Speaker 1: a band of mining nearly fifteen percent higher. The big 29 00:01:37,080 --> 00:01:39,440 Speaker 1: banks as well had a very strong day. I could 30 00:01:39,480 --> 00:01:41,600 Speaker 1: just keep on listing them. There was a lot of 31 00:01:41,680 --> 00:01:45,360 Speaker 1: green today. Energy stocks, on the other hand, moved the 32 00:01:45,440 --> 00:01:49,160 Speaker 1: other way, with Woodside falling more than ten percent, Karon 33 00:01:49,280 --> 00:01:52,080 Speaker 1: Energy down thirteen percent. Is that sharp drop in oil 34 00:01:52,120 --> 00:01:55,560 Speaker 1: prices that I mentioned really hit that sector hard? Onto 35 00:01:55,600 --> 00:01:57,880 Speaker 1: Story number two, which is of course linked to story 36 00:01:57,960 --> 00:02:00,400 Speaker 1: number one. US President Donald Trump has dec glaired the 37 00:02:00,440 --> 00:02:04,120 Speaker 1: ceasefire with Iran to be a big day for world peace, 38 00:02:04,360 --> 00:02:07,760 Speaker 1: saying Tehran had had enough after thirty nine days of war. 39 00:02:08,200 --> 00:02:10,679 Speaker 1: Trump said US assets would remain in the region to 40 00:02:10,720 --> 00:02:14,440 Speaker 1: help manage traffic through the Strait of Humus as shipping resumes, 41 00:02:14,960 --> 00:02:17,600 Speaker 1: though he did give little detail on how any new 42 00:02:17,720 --> 00:02:20,760 Speaker 1: arrangements would work at this time. He also claimed the 43 00:02:20,840 --> 00:02:23,239 Speaker 1: truce could lay the groundwork for a golden age of 44 00:02:23,280 --> 00:02:27,240 Speaker 1: the Middle East, as both sides edge towards talks now 45 00:02:27,280 --> 00:02:31,799 Speaker 1: following the ceasefire deadline. Israeli Prime Minister Benjamin et Nyahu 46 00:02:32,040 --> 00:02:35,799 Speaker 1: has backed the two week pause, but he has made 47 00:02:35,840 --> 00:02:38,880 Speaker 1: it clear that it does not extend to Lebanon, despite 48 00:02:38,960 --> 00:02:42,760 Speaker 1: earlier suggestions from Pakistan, which mediated the deal, that it 49 00:02:42,840 --> 00:02:46,679 Speaker 1: did include Lebanon and all of the surrounding areas now. 50 00:02:46,680 --> 00:02:50,360 Speaker 1: The ceasefire came just an hour before Donald Trump's deadline, 51 00:02:50,680 --> 00:02:54,560 Speaker 1: which had come with a threat that an entire civilization 52 00:02:54,760 --> 00:02:58,080 Speaker 1: would die. Now having avoided that for now, Washington and 53 00:02:58,120 --> 00:03:02,760 Speaker 1: Tehran are both portraying the outcome as a win. Story 54 00:03:02,840 --> 00:03:06,240 Speaker 1: Number three. Ben Robert Smith will remain in custody for 55 00:03:06,280 --> 00:03:09,079 Speaker 1: at least another week after his lawyers declined to make 56 00:03:09,080 --> 00:03:12,920 Speaker 1: a bail application over his war crime murder charges. The 57 00:03:12,960 --> 00:03:16,920 Speaker 1: former SAS soldier was arrested yesterday and charged later in 58 00:03:16,960 --> 00:03:21,400 Speaker 1: the afternoon with five counts of war crime murder. Offenses that, 59 00:03:21,560 --> 00:03:25,119 Speaker 1: if proven, carry a maximum penalty of life imprisonment. Ben 60 00:03:25,200 --> 00:03:28,640 Speaker 1: Robert Smith has previously denied any wrongdoing. He spent last 61 00:03:28,720 --> 00:03:32,120 Speaker 1: night in custody on remand, and the matter was mentioned 62 00:03:32,160 --> 00:03:34,640 Speaker 1: in the online bail court this morning, where his legal 63 00:03:34,680 --> 00:03:38,560 Speaker 1: team declined to make an application for bail at this stage. 64 00:03:38,840 --> 00:03:41,760 Speaker 1: Nine Media reports that his legal team had instead hoped 65 00:03:41,760 --> 00:03:44,320 Speaker 1: to get the matter before a judge in person today, 66 00:03:44,360 --> 00:03:48,400 Speaker 1: but instead secured only a further court mentioned on April seventeen, 67 00:03:48,880 --> 00:03:51,960 Speaker 1: and that means that Robert Smith will stay in custody 68 00:03:52,080 --> 00:03:56,080 Speaker 1: until then. The federal opposition has also waded into this, 69 00:03:56,120 --> 00:03:59,480 Speaker 1: with Angus Taylor calling for the Commonwealth to fund Ben 70 00:03:59,560 --> 00:04:03,720 Speaker 1: robertson Myth's defense to ensure what he says is a 71 00:04:03,720 --> 00:04:07,560 Speaker 1: fair trial. Story Number four A light of one now. 72 00:04:07,600 --> 00:04:11,120 Speaker 1: Tickets for the first ever NFL regular season game in 73 00:04:11,120 --> 00:04:14,360 Speaker 1: Australia nearly sold out in under thirty minutes, but media 74 00:04:14,440 --> 00:04:17,520 Speaker 1: reports suggest that fans are not happy over long waits, 75 00:04:17,560 --> 00:04:22,120 Speaker 1: system glitches and sky high prices for seats with restricted views. 76 00:04:22,440 --> 00:04:25,080 Speaker 1: The cheapest tickets for the September clash between the San 77 00:04:25,080 --> 00:04:27,960 Speaker 1: Francisco forty nine ers and the La Rams at the 78 00:04:28,080 --> 00:04:31,080 Speaker 1: MCG disappeared almost immediately, with many fans saying they had 79 00:04:31,120 --> 00:04:34,720 Speaker 1: little chance of securing them. According to a report in 80 00:04:35,040 --> 00:04:38,320 Speaker 1: nine newspapers, some complained that by the time they got 81 00:04:38,360 --> 00:04:43,159 Speaker 1: through the ticketmaster q only restricted view seats priced between 82 00:04:43,360 --> 00:04:45,600 Speaker 1: about five hundred and sixty dollars and six hundred and 83 00:04:45,600 --> 00:04:48,239 Speaker 1: thirty dollars were left. More than one hundred and fifty 84 00:04:48,320 --> 00:04:52,680 Speaker 1: thousand people had registered interest in the game, underlining what 85 00:04:52,800 --> 00:04:55,400 Speaker 1: seems to be enormous demand for what the Victorian government 86 00:04:55,440 --> 00:04:59,760 Speaker 1: sees as another major global sporting event for Melbourne and finally, 87 00:05:00,000 --> 00:05:03,600 Speaker 1: Sorry number five. Universal Music Group has received a takeover 88 00:05:03,680 --> 00:05:08,359 Speaker 1: offer worth about sixty four billion US dollars from US 89 00:05:08,400 --> 00:05:12,920 Speaker 1: billionaire Bill Ackman's investment firm Pershing Square, and a deal 90 00:05:12,960 --> 00:05:16,040 Speaker 1: that would shift the music giants listing to the United States. 91 00:05:16,440 --> 00:05:20,800 Speaker 1: Universal is home to artists including Taylor Swift, Sabrina Carpenter, 92 00:05:20,920 --> 00:05:25,400 Speaker 1: Kendrick Lamar says it'll assess the proposal what it means 93 00:05:25,400 --> 00:05:29,880 Speaker 1: for shareholders, artists and staff. Pershing Square already owns a 94 00:05:29,920 --> 00:05:32,680 Speaker 1: stake in the business and says Universal has built a 95 00:05:32,720 --> 00:05:36,320 Speaker 1: world class roster and positioned itself well for growth, including 96 00:05:36,520 --> 00:05:41,080 Speaker 1: critically in artificial intelligence. Bill Ackman argues the company's share 97 00:05:41,080 --> 00:05:45,479 Speaker 1: prices underperformed for reasons unrelated to its core business, including 98 00:05:45,520 --> 00:05:48,839 Speaker 1: delays to a US listing and questions around major shareholders. 99 00:05:49,320 --> 00:05:52,640 Speaker 1: Universal stock jumped after the proposal emerged, so the company 100 00:05:52,680 --> 00:05:56,279 Speaker 1: does still face a lot of industry wide challenges around 101 00:05:56,320 --> 00:06:00,919 Speaker 1: streaming growth, royalties, AI deep fakes, and the rising cost 102 00:06:01,120 --> 00:06:04,120 Speaker 1: of marketing artists. There you go. That's it for the 103 00:06:04,160 --> 00:06:07,560 Speaker 1: afternoon Report for Wednesday, the eighth of April. Make sure 104 00:06:07,600 --> 00:06:09,880 Speaker 1: you're following the podcast and please head along to Fear 105 00:06:09,920 --> 00:06:11,680 Speaker 1: and Greed dot com today you to sign up for 106 00:06:11,680 --> 00:06:15,120 Speaker 1: our free daily newsletter. I'm Michael Thompson. Enjoy your evening.