1 00:00:03,160 --> 00:00:05,800 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:05,840 --> 00:00:08,640 Speaker 1: for Thursday, the thirteenth of March twenty twenty five. I'm 3 00:00:08,640 --> 00:00:11,800 Speaker 1: Sean Aylmer. Every afternoon, we've got the five stories that 4 00:00:11,920 --> 00:00:14,080 Speaker 1: happened today that you need to know about. Stroingham one 5 00:00:14,120 --> 00:00:17,640 Speaker 1: there in Pax two hundred closed down half percent today 6 00:00:17,680 --> 00:00:20,680 Speaker 1: to seven seven hundred and forty nine points, another seven 7 00:00:20,720 --> 00:00:23,240 Speaker 1: month low. It was a tough day for the energy 8 00:00:23,280 --> 00:00:27,880 Speaker 1: companies as the price of coal heads south and investment 9 00:00:27,960 --> 00:00:32,559 Speaker 1: analysts downgrade the coal company's outlooks, yan Coal, New Hope, 10 00:00:32,640 --> 00:00:34,960 Speaker 1: and White Haven. We're all among the worst performers of 11 00:00:35,000 --> 00:00:38,000 Speaker 1: the top two hundred stocks today. The flip side, well, 12 00:00:38,040 --> 00:00:40,159 Speaker 1: that's the gold stocks benefiting from a jump in the 13 00:00:40,200 --> 00:00:43,360 Speaker 1: price of the precious metal to near record highs. There 14 00:00:43,440 --> 00:00:46,159 Speaker 1: is broad base selling everywhere. The big banks and miners 15 00:00:46,159 --> 00:00:48,240 Speaker 1: were lower, retailers were mixed. Some of the tech stocks 16 00:00:48,280 --> 00:00:51,000 Speaker 1: in a bit better today. In corporate news, haulage companies 17 00:00:51,040 --> 00:00:55,320 Speaker 1: Silk Logistics tumbled twenty three percent after the Competition watchdog 18 00:00:55,560 --> 00:01:00,360 Speaker 1: raised concerns over steved Or DP World's takeover bid. To 19 00:01:00,400 --> 00:01:04,400 Speaker 1: The fallout from the tariff decision in the US continues 20 00:01:04,520 --> 00:01:08,920 Speaker 1: there's the political angle. Prime Minister Anthony Albernizi says Opposition 21 00:01:09,000 --> 00:01:12,560 Speaker 1: leader Peter Dutton is a cheer squad for Donald Trump. 22 00:01:12,640 --> 00:01:15,360 Speaker 1: That came after Peter Dutton said the Coalition would have 23 00:01:15,360 --> 00:01:19,640 Speaker 1: secured an exemption from the tariffs, notwithstanding no other country 24 00:01:19,680 --> 00:01:22,440 Speaker 1: has secured one. For his part, Peter Dutton pushed the 25 00:01:22,480 --> 00:01:27,160 Speaker 1: importance of the orchestra relationship today. There's also the geopolitical 26 00:01:27,280 --> 00:01:29,600 Speaker 1: angle of these twenty five per cent tariffs on steel 27 00:01:29,640 --> 00:01:33,720 Speaker 1: and aluminum. While Europe and Canada have quickly retaliated by 28 00:01:33,720 --> 00:01:37,479 Speaker 1: imposing their own levies and US goods so far, Australian 29 00:01:37,520 --> 00:01:41,520 Speaker 1: politicians and business leaders, including Westpact boss Anthony Miller, have 30 00:01:41,880 --> 00:01:46,840 Speaker 1: recommended no retaliatory tariffs, sort of don't poke the bear anymore. 31 00:01:47,200 --> 00:01:49,320 Speaker 1: And then, of course, there's the response from the United 32 00:01:49,360 --> 00:01:54,680 Speaker 1: States to Australia's outcry. Commerce Secretary Howard Lutnick called out 33 00:01:54,720 --> 00:01:59,840 Speaker 1: Australia for criticism, accusing the country of subsidizing cheap aluminium exports. 34 00:02:00,160 --> 00:02:03,200 Speaker 1: Story number three. Consumer related stocks, which did pretty well 35 00:02:03,240 --> 00:02:06,480 Speaker 1: earlier in the year are leading the market LOWA, with 36 00:02:06,640 --> 00:02:10,160 Speaker 1: fears of an economic downturn hitting many companies. Now West 37 00:02:10,200 --> 00:02:14,359 Speaker 1: Farmers is the biggest consumer discretionary stock. After one percent 38 00:02:14,440 --> 00:02:18,079 Speaker 1: dropped today, It's down thirteen percent since its peak less 39 00:02:18,120 --> 00:02:21,200 Speaker 1: than four weeks ago. Next on the list is gaming 40 00:02:21,240 --> 00:02:24,919 Speaker 1: machine maker Aristocrat Leisure. Its biggest market is the US. 41 00:02:25,000 --> 00:02:28,000 Speaker 1: Fears I have a recession there has hit its share 42 00:02:28,040 --> 00:02:31,440 Speaker 1: price down fifteen percent since its peak. Even JB Hi Fi, 43 00:02:31,600 --> 00:02:35,040 Speaker 1: which really for years has lived in its own ecosphere, 44 00:02:35,520 --> 00:02:38,040 Speaker 1: it's being hit. It's also down fifteen percent in less 45 00:02:38,040 --> 00:02:40,679 Speaker 1: than four weeks. You can throw in Harvey Norman, gouzmny 46 00:02:40,760 --> 00:02:44,320 Speaker 1: Gomez travel groups like flight Center and Corporate Travel Management, 47 00:02:44,560 --> 00:02:47,960 Speaker 1: and this is happening despite interest rates having been cut 48 00:02:48,040 --> 00:02:51,080 Speaker 1: a few weeks ago. Story number four. There were three 49 00:02:51,320 --> 00:02:55,160 Speaker 1: new boss announcements today. For more, Woolly's boss Brad Banducci 50 00:02:55,240 --> 00:02:59,160 Speaker 1: will take over ticketing group TEG acting nine. CEO. Matt 51 00:02:59,160 --> 00:03:02,800 Speaker 1: Stanton has been confirmed as the entertainment group's full time boss, 52 00:03:03,040 --> 00:03:07,080 Speaker 1: and billionaire Scott Farquha will become chair of the Tech Council. 53 00:03:07,440 --> 00:03:10,880 Speaker 1: Farquah hit the ground running today, calling on the government 54 00:03:10,919 --> 00:03:15,240 Speaker 1: to lessen the economy's dependence on natural resources, and story 55 00:03:15,320 --> 00:03:18,600 Speaker 1: number five that Kremlin says it will review details from 56 00:03:18,680 --> 00:03:21,400 Speaker 1: Washington about a proposal for a thirty day ceasefire in 57 00:03:21,520 --> 00:03:26,040 Speaker 1: Ukraine before responding. While US Secretary of State Marco Rubio 58 00:03:26,360 --> 00:03:29,640 Speaker 1: hopes the deal will be struck within days as Moscow 59 00:03:29,760 --> 00:03:33,840 Speaker 1: considers the plan, President Vladimir Putin, dressed in military fatigues, 60 00:03:33,840 --> 00:03:37,600 Speaker 1: made a surprise visit to Russia's Curse region for the 61 00:03:37,600 --> 00:03:40,880 Speaker 1: first time since Ukrainian troops captured part of it last year. 62 00:03:41,360 --> 00:03:44,720 Speaker 1: Now Rubia said the US was hoping for a positive 63 00:03:44,800 --> 00:03:48,440 Speaker 1: response from the Kremlin and that if the answer was no, 64 00:03:49,200 --> 00:03:52,960 Speaker 1: that would tell Washington a lot about Russia's true intentions. 65 00:03:53,240 --> 00:03:56,480 Speaker 1: Associated Press is reporting that Russia has presented Washington with 66 00:03:56,520 --> 00:03:58,200 Speaker 1: a list of demands for a deal to end the 67 00:03:58,320 --> 00:04:01,800 Speaker 1: Ukraine War in reset relations with the US. While these 68 00:04:01,840 --> 00:04:06,040 Speaker 1: specifics aren't clear, it's understood they include no NATO membership 69 00:04:06,120 --> 00:04:09,800 Speaker 1: for Kiev, recognition of Russia's claim to Crimea and for 70 00:04:09,960 --> 00:04:13,800 Speaker 1: Ukrainian provinces, and an agreement that foreign troops not be 71 00:04:13,960 --> 00:04:16,839 Speaker 1: deployed in the Ukraine. That's it for the Afternoon Report 72 00:04:16,880 --> 00:04:19,320 Speaker 1: for Thursday, the thirdeenth of March twenty twenty five. Make 73 00:04:19,320 --> 00:04:21,480 Speaker 1: sure you hit follow on the podcast. We'll be back 74 00:04:21,480 --> 00:04:23,719 Speaker 1: tomorrow morning. With the Friday edition of the Fast Five 75 00:04:23,760 --> 00:04:27,279 Speaker 1: Business News by Fear and Greed. I'm Sean Elmer. Enjoy 76 00:04:27,279 --> 00:04:27,839 Speaker 1: your evening.