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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Tuesday, the first of July twenty twenty five.

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Speaker 2: Are Michael Thompson.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Let's get going. Story

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Speaker 1: number one. There's Day one of the new financial year.

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Speaker 1: Didn't really start with a bang, more of a whimper,

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Speaker 1: the s and PA SEX two hundred, finishing down just

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Speaker 1: one point two points, that is, zero point zero one

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Speaker 1: percent to eighty five hundred and forty one points.

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Speaker 2: So very very flat. That followed new record highs on

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Speaker 2: Wall Street. More on that in a sec. But the

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Speaker 2: tech stocks followed the Nasdaq's lead, with zero up one

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Speaker 2: point two percent, Life three sixty climbing four point four percent.

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Speaker 2: Good day for the retailers, Endeavor, Harvey, Norman, Woollies all

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Speaker 2: performing well. Not so good though for the Commonwealth Bank

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Speaker 2: that fell back by one point two percent, even as

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Speaker 2: the other big banks did better. Under story number two,

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Speaker 2: and as I mentioned, plenty going on in global markets,

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Speaker 2: particularly in equities also currencies, though Wall Street's broad based

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Speaker 2: SMP five hundred and the tech heavy Nasdaq both set

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Speaker 2: closing highs overnight. Equity investors at least are warming to

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Speaker 2: the idea of an extension of tax cuts under the

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Speaker 2: Big Beautiful Bill, that's the three point three trillion US

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Speaker 2: dollar tax cut and spending bill. But they're also getting

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Speaker 2: a bit of confidence from calmer geopolitical tensions and the

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Speaker 2: likelihood of interest rate cuts later in the year. Bond

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Speaker 2: market traders are less impressed. The US dollar hit a

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Speaker 2: near four year low against the euro a mid worries

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Speaker 2: over rising US government deficit and uncertainty surrounding trade deals

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Speaker 2: with major countries. The Aussie dollar is trading at almost

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Speaker 2: sixty six US sentse Story number three. There have been

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Speaker 2: management shuffles of Plenty. Co Star says it intends to

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Speaker 2: return former Domain chief executive Jason Pellegrino to the real

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Speaker 2: estate listings platform that he ran until last year, and

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Speaker 2: it's considering a major rebrand of the company if it's

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Speaker 2: three billion dollar bid to buy the business and from

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Speaker 2: the share market is successful. Also changes at Borrel, where

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Speaker 2: chief executive Vic Bansel will step down from the building

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Speaker 2: materials giant next year, and Willie's as Well Worth, mentioning

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Speaker 2: chief executive Amanda Bardwell is changing key management as she

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Speaker 2: pushes to clawback market share from art rival colds plenty

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Speaker 2: going on in that space. Story number four in corporate news,

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Speaker 2: Insignia Financial jumped after CC Capital said it would continue

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Speaker 2: to quote actively work towards making a binding bid for

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Speaker 2: the company and would finalize approvals in the next two weeks.

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Speaker 2: Bio company Tetratherics, we mentioned that one yesterday. That rose

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Speaker 2: another four percent following its strong market debut yesterday. That's

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Speaker 2: a company that develops treatments for tissue and bone repair.

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Speaker 2: And speaking of biotech companies, Miso Blast shares jumped after

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Speaker 2: the Australian company announced an alignment with the US Food

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Speaker 2: and Drug Administration on items required for filing a license

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Speaker 2: application for its heart failure treatment. It was in fact

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Speaker 2: the best performer on the ASX two hundred today, jumping

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Speaker 2: a seven point two percent. And finally, story number five

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Speaker 2: Israeli Prime Minister Benjamin Netania, who is expected to meet

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Speaker 2: with President Donald Trump at the White House on July seven,

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Speaker 2: as the US administration urges an end to the war

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Speaker 2: in Gaza and attempts to secure the release of the

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Speaker 2: remaining hostages held by Hamas. Donald Trump has praised Netanyahu

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Speaker 2: for his stewardship of Israel's twelve day war against Iran

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Speaker 2: and criticized legal proceedings against the Prime Minister as a

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Speaker 2: quote political witch hunt, according to Bloomberg.

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Speaker 1: That's it for the Afternoon Report for Tuesday, the first

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Speaker 1: of July twenty twenty five.

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Speaker 2: Make sure you hit follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with the Wednesday edition of

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Speaker 1: Fear and Breed.

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Speaker 2: I'm Michael Thompson. Enjoy your evening,