1 00:00:03,680 --> 00:00:06,240 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:08,920 Speaker 1: for Wednesday, the thirtieth of April twenty twenty five. I'm 3 00:00:08,960 --> 00:00:11,399 Speaker 1: Sean Almer. Every afternoon, We've got the five stories that 4 00:00:11,480 --> 00:00:13,960 Speaker 1: happened today that you need to know about. Story number one, 5 00:00:14,120 --> 00:00:15,960 Speaker 1: it was a good day on the local share market 6 00:00:16,079 --> 00:00:19,360 Speaker 1: after figures from the Bureau of Statistics showed that inflation 7 00:00:19,640 --> 00:00:23,439 Speaker 1: both headline and underlying fell below three percent during the 8 00:00:23,480 --> 00:00:26,640 Speaker 1: March quarter. Market economists now expect an interest rate cut 9 00:00:26,680 --> 00:00:29,479 Speaker 1: in three weeks when the Reserve Bank Board meets. That 10 00:00:29,560 --> 00:00:32,800 Speaker 1: helped the local boars, with the SMPASX two hundred closing 11 00:00:32,880 --> 00:00:35,480 Speaker 1: up zero point seven percent to eight thousand, one hundred 12 00:00:35,479 --> 00:00:39,040 Speaker 1: and twenty six points. Broadly speaking, interest rate sensitive stocks 13 00:00:39,040 --> 00:00:43,159 Speaker 1: did best, the tech companies, real estate companies, consumer discretionary stocks, 14 00:00:43,800 --> 00:00:47,159 Speaker 1: utilities and energy companies underperformed. Among the large caps come 15 00:00:47,200 --> 00:00:50,840 Speaker 1: WEF Bank, CSL West Farmers, and Aristocrat Leisure had good days. 16 00:00:51,120 --> 00:00:54,040 Speaker 1: For dis FW Metals and Quarry not so much. Story 17 00:00:54,080 --> 00:00:58,080 Speaker 1: number two. Polling suggests the Coalition is doing relatively well, 18 00:00:58,400 --> 00:01:02,480 Speaker 1: gaining preferences from one Nation and center right parties, tightening 19 00:01:02,600 --> 00:01:05,680 Speaker 1: up the race for the Lodge, tightening it up, but 20 00:01:05,800 --> 00:01:08,360 Speaker 1: not enough to allow Peter Dutton to become Prime Minister 21 00:01:08,440 --> 00:01:10,679 Speaker 1: according to the polls. It adds to the argument that 22 00:01:10,680 --> 00:01:13,880 Speaker 1: the Coalition could win some outer city seats, meaning the 23 00:01:13,920 --> 00:01:17,280 Speaker 1: ALP will be returned, but as a minority government. The 24 00:01:17,400 --> 00:01:21,640 Speaker 1: JWS research polling suggests in outer suburban seats One Nation, 25 00:01:21,959 --> 00:01:25,759 Speaker 1: Family First and Clive Palmer's Trumpet of Patriots are collectively 26 00:01:25,800 --> 00:01:29,880 Speaker 1: polling around ten percent, so their preferences matter. With three 27 00:01:29,959 --> 00:01:33,640 Speaker 1: days to go, momentum is definitely with the ALP story. 28 00:01:33,760 --> 00:01:37,200 Speaker 1: Number three, Star Entertainment is continuing to lose money across 29 00:01:37,240 --> 00:01:39,520 Speaker 1: its gaming outlets, with the introduction of cash limits and 30 00:01:39,560 --> 00:01:44,360 Speaker 1: mandatory identification cards at its Sydney casino triggering a quarterly loss. 31 00:01:44,680 --> 00:01:48,640 Speaker 1: Star says there is still material uncertainty regarding its ability 32 00:01:48,680 --> 00:01:51,520 Speaker 1: to continue as a going concern. For the quarter it 33 00:01:51,520 --> 00:01:54,200 Speaker 1: made a pretax loss of twenty one million dollars. There 34 00:01:54,240 --> 00:01:57,160 Speaker 1: was a seasonal decline in revenue, reduced levels of gaming 35 00:01:57,320 --> 00:01:59,920 Speaker 1: visitation in the one off impact of weather in Queen's 36 00:02:00,040 --> 00:02:04,000 Speaker 1: then during March Sorry. Number four. Elsewhere in corporate land, Westpac, 37 00:02:04,000 --> 00:02:06,560 Speaker 1: Australia's second largest bank, so at its bottom line for 38 00:02:06,600 --> 00:02:09,560 Speaker 1: the March half, to be announced next week, will be 39 00:02:09,639 --> 00:02:12,560 Speaker 1: hit by one hundred and forty million dollar hedging related issue. 40 00:02:12,680 --> 00:02:15,960 Speaker 1: Origin Energy reported a quarter on quarter fall in LNG 41 00:02:16,280 --> 00:02:20,200 Speaker 1: revenue driven by lower volumes and LNG prices, and Perseus 42 00:02:20,280 --> 00:02:23,080 Speaker 1: Mining's goal sales fell in the March quarter owing to 43 00:02:23,080 --> 00:02:25,720 Speaker 1: a fall in production and the timing of shipments over 44 00:02:25,760 --> 00:02:29,240 Speaker 1: that period. Finally, story number five, the Trump tariffs are 45 00:02:29,280 --> 00:02:32,880 Speaker 1: hitting big business in the US, with Delivery Group Ups 46 00:02:32,919 --> 00:02:36,280 Speaker 1: saying it will cut twenty thousand jobs and General Motors 47 00:02:36,320 --> 00:02:38,720 Speaker 1: dumping its earnings outlook statement on the back of all 48 00:02:38,760 --> 00:02:42,040 Speaker 1: the uncertainty. Similar to what we are seeing in Australia, 49 00:02:42,320 --> 00:02:44,920 Speaker 1: companies are telling investors that revenue and earnings will be 50 00:02:44,960 --> 00:02:48,519 Speaker 1: hit by the economics malay spurred by the trade war. 51 00:02:48,840 --> 00:02:51,919 Speaker 1: So Craft Heines, maker of tomato sauce Ketchup, I suppose 52 00:02:51,960 --> 00:02:55,080 Speaker 1: we should be calling it. It's pulled its outlook for earnings, 53 00:02:55,120 --> 00:02:58,960 Speaker 1: as have Electrolux and airline Jet Blue Airways. Coca Colam 54 00:02:59,080 --> 00:03:02,440 Speaker 1: says consumers in Denmark and Mexico, as well as some 55 00:03:02,520 --> 00:03:04,440 Speaker 1: in the US, are drinking less coke as a result 56 00:03:04,480 --> 00:03:08,919 Speaker 1: of Trump's policies. Now Reuter's analysis says about forty companies 57 00:03:08,960 --> 00:03:12,480 Speaker 1: worldwide have pulled or lowered their forward guidance in the 58 00:03:12,520 --> 00:03:16,079 Speaker 1: past Fortnite executives are worried the Trump trade policies have 59 00:03:16,160 --> 00:03:19,000 Speaker 1: hit consumer and business sentiment and the damage done will 60 00:03:19,000 --> 00:03:23,200 Speaker 1: not easily be reversed. That's it the Afternoon Report for Wednesday, 61 00:03:23,280 --> 00:03:25,480 Speaker 1: the thirtieth of April twenty twenty five. Make sure you 62 00:03:25,520 --> 00:03:27,760 Speaker 1: hit Bollumn on the podcast. We will be back tomorrow 63 00:03:27,840 --> 00:03:30,400 Speaker 1: morning with the Thursday edition of Fear and Greed Business News. 64 00:03:30,440 --> 00:03:32,359 Speaker 1: I'm Sean i Elmer. Enjoy your evening.