1 00:00:03,520 --> 00:00:06,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:09,119 Speaker 1: for Wednesday, the nineteenth of November. I'm Michael Thompson, and 3 00:00:09,160 --> 00:00:12,160 Speaker 1: every afternoon we've got the five stories that happened today 4 00:00:12,240 --> 00:00:14,160 Speaker 1: that you need to know about. Let's go with story 5 00:00:14,240 --> 00:00:16,440 Speaker 1: number one is about markets. The SMPA s X two 6 00:00:16,520 --> 00:00:20,040 Speaker 1: hundred closed down zero point three percent today to eighty 7 00:00:20,120 --> 00:00:22,520 Speaker 1: four hundred and forty eight points. That is its lowest 8 00:00:22,640 --> 00:00:26,239 Speaker 1: level in almost six months, and comes after yesterday's shoker 9 00:00:26,440 --> 00:00:29,880 Speaker 1: that saw the boss slump almost two percent, wiping out 10 00:00:29,920 --> 00:00:32,599 Speaker 1: sixty billion dollars in value. There is still a lot 11 00:00:32,640 --> 00:00:36,440 Speaker 1: of anxiety around Nvidia's results, which will be reported tomorrow 12 00:00:36,479 --> 00:00:39,280 Speaker 1: morning our time, because of the flow on effects to 13 00:00:39,320 --> 00:00:42,159 Speaker 1: other tech stocks and what the chip maker's success or 14 00:00:42,280 --> 00:00:46,159 Speaker 1: otherwise tells us about the state of the AI boom. Locally, 15 00:00:46,159 --> 00:00:49,199 Speaker 1: those six of the eleven sectors lost ground today. The 16 00:00:49,240 --> 00:00:52,760 Speaker 1: banks were all off A and Z worst of the bunch, 17 00:00:52,960 --> 00:00:56,560 Speaker 1: down two percent. Commonwealth Bank and Westpac were both off 18 00:00:56,640 --> 00:01:00,480 Speaker 1: more than one percent. The price of gold climb. It's 19 00:01:00,520 --> 00:01:04,320 Speaker 1: trading around forty thousand and seventy US dollars an ounce, 20 00:01:04,520 --> 00:01:07,400 Speaker 1: which of course helped the local gold miners, Northern Star 21 00:01:07,400 --> 00:01:11,080 Speaker 1: was up nearly three percent, Evolution Mining was up two percent. 22 00:01:11,600 --> 00:01:14,000 Speaker 1: Woodside and Santos both had a pretty good day that 23 00:01:14,120 --> 00:01:16,959 Speaker 1: was helped by rising oil prices, with the US and 24 00:01:17,040 --> 00:01:20,959 Speaker 1: Europe moving to limit Rush's ability to fund its war 25 00:01:21,040 --> 00:01:23,680 Speaker 1: in Ukraine through its oil supplies. There are a couple 26 00:01:23,720 --> 00:01:26,240 Speaker 1: of big movers on the market today, Webjet, which I'll 27 00:01:26,240 --> 00:01:29,240 Speaker 1: get to in a moment, and Drone Shield, which tumbled 28 00:01:29,520 --> 00:01:33,800 Speaker 1: nineteen percent today. The chief executive of the US Operations resigned, 29 00:01:33,800 --> 00:01:37,520 Speaker 1: effective immediately after three years in the job. Drone Shield 30 00:01:37,560 --> 00:01:40,959 Speaker 1: share price is now down more than fifty percent in 31 00:01:41,200 --> 00:01:44,920 Speaker 1: just the last month. On to story number two. Now 32 00:01:44,959 --> 00:01:48,760 Speaker 1: and Holloworld has launched a three hundred and fifty three 33 00:01:48,760 --> 00:01:52,600 Speaker 1: million dollar takeover bid for online travel agent Webjet, which 34 00:01:52,680 --> 00:01:56,480 Speaker 1: is a move that would significantly expand its digital presence 35 00:01:56,600 --> 00:02:00,920 Speaker 1: if approved. Hello World, which already owned seventeen percent of Webjet, 36 00:02:01,280 --> 00:02:03,960 Speaker 1: has offered ninety cents a share and been granted due 37 00:02:04,040 --> 00:02:08,680 Speaker 1: diligence the office cent. Webjets stock up seventeen percent today. 38 00:02:08,760 --> 00:02:13,239 Speaker 1: The bid beats an earlier eighty cent proposal from BGH 39 00:02:13,320 --> 00:02:17,760 Speaker 1: and Ariadne, which together holds seventeen point eight percent of 40 00:02:17,800 --> 00:02:22,320 Speaker 1: the company analys SAA counteroffer is possible. Webjets performance has 41 00:02:22,360 --> 00:02:25,679 Speaker 1: weakened this year in contrast to some stronger signals from quantas, 42 00:02:25,720 --> 00:02:28,760 Speaker 1: from virgin and from Flight Center. Story number three. Prime 43 00:02:28,760 --> 00:02:32,760 Speaker 1: Minister Anthony Albernizi says Australia will not oppose Turkey if 44 00:02:32,760 --> 00:02:35,799 Speaker 1: it wins the bid to host next year's COP thirty 45 00:02:35,800 --> 00:02:39,640 Speaker 1: one climate summit, warning that a prolonged standoff could undermine 46 00:02:39,680 --> 00:02:43,239 Speaker 1: Pacific unity on climate action. Australia and Turkey have both 47 00:02:43,280 --> 00:02:46,400 Speaker 1: been bidding since twenty twenty two, and earlier this week 48 00:02:46,440 --> 00:02:49,320 Speaker 1: Albanzi ruled out a joint hosting model, saying that UN 49 00:02:49,400 --> 00:02:52,600 Speaker 1: rules don't allow it, but he has now signaled a 50 00:02:52,639 --> 00:02:56,160 Speaker 1: somewhat softer stance, saying that Pacific nations were concerned a 51 00:02:56,280 --> 00:02:59,960 Speaker 1: deadlock could weaken their collective push for stronger climate commitments. 52 00:03:00,280 --> 00:03:03,840 Speaker 1: Albaneze says that if Turkey has chosen, Australia wouldn't seek 53 00:03:03,919 --> 00:03:06,880 Speaker 1: to veto the decision, but would ensure that the Pacific 54 00:03:06,960 --> 00:03:09,920 Speaker 1: benefited from that outcome, and he also said that he 55 00:03:09,960 --> 00:03:13,800 Speaker 1: expects Turkey wouldn't veto Australia if Australia was chosen we 56 00:03:13,919 --> 00:03:16,800 Speaker 1: haven't withdrawn though from the race, and if no consensus 57 00:03:16,840 --> 00:03:19,760 Speaker 1: decision is reached at COP thirty in Brazil, the event 58 00:03:19,840 --> 00:03:23,639 Speaker 1: will instead be held in Germany by default, which Germany 59 00:03:23,720 --> 00:03:28,160 Speaker 1: doesn't actually want. Story number four, legendary broadcast to John 60 00:03:28,240 --> 00:03:30,960 Speaker 1: Laws has been farewell today at a state funeral in 61 00:03:31,040 --> 00:03:35,280 Speaker 1: Sydney which attracted Australia's political and cultural establishment from both 62 00:03:35,320 --> 00:03:38,280 Speaker 1: sides of politics. There was former PM John Howard, former 63 00:03:38,320 --> 00:03:42,160 Speaker 1: New South Wales Premier Nick Griner, current Premier Chris Mins. 64 00:03:42,280 --> 00:03:46,160 Speaker 1: Swimming great Dawn Fraser was there, as was businessman Lindsey Fox. 65 00:03:46,560 --> 00:03:50,440 Speaker 1: Actor Russell Crowe gave the eulogy and John Laws's famous 66 00:03:50,480 --> 00:03:55,080 Speaker 1: golden microphone was positioned alongside the coffin in Saint Andrew's Cathedral. 67 00:03:55,680 --> 00:03:58,920 Speaker 1: Barnaby Joyce was there, so to singer Marsha Hines, TV 68 00:03:59,040 --> 00:04:02,680 Speaker 1: host Richard Wilkins and country singer John Williamson, who performed 69 00:04:02,800 --> 00:04:06,240 Speaker 1: True Blue was quite the sendoff for the radio presenter 70 00:04:06,280 --> 00:04:10,360 Speaker 1: who died earlier this month aged ninety. And finally, story 71 00:04:10,440 --> 00:04:15,360 Speaker 1: number five, President Donald Trump has defended Saudi Crown Prince 72 00:04:15,440 --> 00:04:19,960 Speaker 1: Muhammed bin Salman over the killing of journalist Jamal Kashoji 73 00:04:20,240 --> 00:04:24,080 Speaker 1: saying things happen and insisting the Crown Prince quote knew 74 00:04:24,160 --> 00:04:29,320 Speaker 1: nothing about it, despite US intelligence assessing otherwise. Muhammad received 75 00:04:29,440 --> 00:04:31,839 Speaker 1: an elaborate welcome at the White House on his first 76 00:04:31,880 --> 00:04:35,520 Speaker 1: visit to Washington since the twenty eighteen killing. The US 77 00:04:35,640 --> 00:04:38,960 Speaker 1: President scolded a reporter for raising the issue, calling it 78 00:04:39,000 --> 00:04:43,040 Speaker 1: a terrible question. The visitor is expected to include major 79 00:04:43,080 --> 00:04:46,840 Speaker 1: defense and investment discussions, including the potential sale of F 80 00:04:46,920 --> 00:04:50,920 Speaker 1: thirty five fighter jets to Saudi Arabia, though human rights 81 00:04:50,920 --> 00:04:54,440 Speaker 1: groups and Kashoji's widow have criticized the reception at the 82 00:04:54,440 --> 00:04:57,800 Speaker 1: White House as shameful. That's it for the afternoon report 83 00:04:57,800 --> 00:05:00,599 Speaker 1: for Wednesday, the nineteenth of November. Makes sure you following 84 00:05:00,640 --> 00:05:02,840 Speaker 1: the podcast, and please head along to Fearangreed dot com 85 00:05:02,880 --> 00:05:05,120 Speaker 1: dot au to sign up for our free daily newsletter. 86 00:05:05,320 --> 00:05:07,080 Speaker 1: I'll put a link in today's show notes as well 87 00:05:07,360 --> 00:05:09,080 Speaker 1: by Michael Thompson. Have a good int.