1 00:00:04,080 --> 00:00:06,960 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,040 --> 00:00:09,799 Speaker 1: for Tuesday, the third of March twenty twenty six. Oh 3 00:00:09,840 --> 00:00:12,639 Speaker 1: Michael Thompson, and every afternoon, we've got the five stories 4 00:00:12,640 --> 00:00:14,720 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,760 --> 00:00:16,759 Speaker 1: go with story number one. The S and PA Sex 6 00:00:16,800 --> 00:00:20,360 Speaker 1: two hundred fell one point three percent today to nine 7 00:00:20,480 --> 00:00:24,560 Speaker 1: thousand and seventy seven points, with ten of eleven sectors 8 00:00:24,640 --> 00:00:27,360 Speaker 1: lower as a conflict in the Middle East pushed oil 9 00:00:27,400 --> 00:00:29,760 Speaker 1: prices up more than two and a half percent and 10 00:00:29,800 --> 00:00:34,680 Speaker 1: fueled fresh inflation concerns. There's more talk now of another 11 00:00:34,720 --> 00:00:38,120 Speaker 1: interest rate hike. As early as this month. Energy stocks 12 00:00:38,120 --> 00:00:41,120 Speaker 1: were really the standout today, supported by an eight point 13 00:00:41,200 --> 00:00:45,000 Speaker 1: six percent jump in coal prices that's really the best 14 00:00:45,000 --> 00:00:48,879 Speaker 1: in years. New Hope rose seven point four percent. Yan 15 00:00:48,960 --> 00:00:51,680 Speaker 1: coal gained nearly five percent, white Haven Coal was up 16 00:00:51,720 --> 00:00:55,560 Speaker 1: more than three percent. Well Ampole climbed three point two percent. 17 00:00:55,600 --> 00:00:59,040 Speaker 1: Santos and Woodside we're both up around one percent. Gold 18 00:00:59,080 --> 00:01:03,680 Speaker 1: miners actually retreated despite the geopolitical issues. Newmont, Northern Star 19 00:01:03,760 --> 00:01:07,280 Speaker 1: and Evolution Mining were all down. BHP came off two 20 00:01:07,280 --> 00:01:10,360 Speaker 1: point six percent. A couple of other big moves to mention. 21 00:01:10,600 --> 00:01:14,640 Speaker 1: Magellan surged almost twenty two percent today after a capital 22 00:01:14,720 --> 00:01:17,800 Speaker 1: raising tied to its merger with Baron Joey, while the 23 00:01:17,920 --> 00:01:21,880 Speaker 1: monitoring app Life three sixty tumbled more than seventeen percent 24 00:01:22,360 --> 00:01:26,600 Speaker 1: on weaker first quarter guidance. Under story number two. Now 25 00:01:27,080 --> 00:01:31,960 Speaker 1: and Amazon's cloud arm has warned of prolonged service disruptions 26 00:01:32,080 --> 00:01:35,920 Speaker 1: after drone strikes damaged three of its data centers in 27 00:01:35,959 --> 00:01:41,280 Speaker 1: the Middle East. Amazon Web Services said that drones directly 28 00:01:41,480 --> 00:01:45,240 Speaker 1: struck two facilities in the United Arab Emirates, while a 29 00:01:45,280 --> 00:01:49,320 Speaker 1: nearby strike in Bahrain damaged infrastructure that supported another site. 30 00:01:49,600 --> 00:01:54,840 Speaker 1: Two of the three regional hubs remained significantly impaired. Aws 31 00:01:55,000 --> 00:01:58,680 Speaker 1: have said that customers are experiencing elevated error rates and 32 00:01:58,760 --> 00:02:02,720 Speaker 1: degraded availability, and recovery is expected to take time given 33 00:02:02,760 --> 00:02:07,040 Speaker 1: the physical damage to these centers. The incident highlights the 34 00:02:07,080 --> 00:02:11,720 Speaker 1: widening economic impact of the escalating regional conflict, which, as 35 00:02:11,720 --> 00:02:14,440 Speaker 1: we've talked about a lot already on the podcast, has 36 00:02:14,520 --> 00:02:19,120 Speaker 1: already disrupted aviation and energy markets, with oil prices spiking 37 00:02:19,280 --> 00:02:22,960 Speaker 1: even today and tanker traffic through the Strait of Humus 38 00:02:23,280 --> 00:02:27,200 Speaker 1: slowing sharply. Story number three The effect is being felt 39 00:02:27,240 --> 00:02:30,760 Speaker 1: locally as well. Melbourne hotels are reporting a spike in 40 00:02:30,880 --> 00:02:33,840 Speaker 1: no shows ahead of this weekend Formula one Grand Prix 41 00:02:34,320 --> 00:02:37,720 Speaker 1: after the Middle East conflicts disrupted flights through major hubs 42 00:02:37,760 --> 00:02:42,960 Speaker 1: including Dubai, Abu Dhabi and Doha. The Financial Review has 43 00:02:43,000 --> 00:02:46,760 Speaker 1: reported that about thirty aircraft belonging to those Middle Eastern 44 00:02:46,760 --> 00:02:50,360 Speaker 1: airlines Eddie, had Emirates and Qatar are now on the 45 00:02:50,400 --> 00:02:53,520 Speaker 1: ground here in Australia after being forced to divert over 46 00:02:53,560 --> 00:02:57,560 Speaker 1: the weekend. F one teams are scrambling to get here 47 00:02:57,680 --> 00:03:01,320 Speaker 1: via Asia instead as airline and to adjust their schedules. 48 00:03:01,600 --> 00:03:05,400 Speaker 1: Accommodation Australia says hotels in Sydney, Melbourne and Brisbane have 49 00:03:05,480 --> 00:03:08,960 Speaker 1: been hit, with Melbourne the most exposed, obviously given the 50 00:03:09,000 --> 00:03:11,720 Speaker 1: scale of the Grand Prix event. Story number four One 51 00:03:11,760 --> 00:03:13,920 Speaker 1: person who has been able to make it to Australia, 52 00:03:14,240 --> 00:03:17,359 Speaker 1: Canada's Prime Minister Mark Carney has landed in Sydney. It's 53 00:03:17,360 --> 00:03:20,040 Speaker 1: his first visit here as Prime Minister and it's all 54 00:03:20,080 --> 00:03:24,000 Speaker 1: about what he calls a rupture in world order. Karney 55 00:03:24,080 --> 00:03:27,120 Speaker 1: is here to bolster tize between the so called Middle Powers. 56 00:03:27,120 --> 00:03:31,000 Speaker 1: Countries like Australia and Canada that aren't superpowers but still 57 00:03:31,040 --> 00:03:35,400 Speaker 1: have significant economic and strategic weight. He's going to meet 58 00:03:35,480 --> 00:03:38,720 Speaker 1: business leaders in Sydney then head to Canberra to address Parliament. 59 00:03:39,000 --> 00:03:43,840 Speaker 1: The agenda is really critical minerals, defense cooperation and trade diversification. 60 00:03:44,400 --> 00:03:48,160 Speaker 1: Both countries are dealing really with the same pressures, an 61 00:03:48,320 --> 00:03:53,160 Speaker 1: unpredictable American president, a conflict pushing up energy costs, and 62 00:03:53,880 --> 00:03:58,400 Speaker 1: a really pressing need to build alternative partnerships. Karney was 63 00:03:58,440 --> 00:04:01,880 Speaker 1: previously governor of the Bank of Canada and the Bank 64 00:04:01,880 --> 00:04:04,600 Speaker 1: of England, so he's coming at this almost from as 65 00:04:04,680 --> 00:04:08,560 Speaker 1: much of an economic perspective as a diplomatic one. And finally, 66 00:04:08,600 --> 00:04:12,200 Speaker 1: story number five, grocery chain Aldi suffered a sharp sales 67 00:04:12,240 --> 00:04:15,880 Speaker 1: slow down heading into Christmas, coinciding with a strong showing 68 00:04:15,920 --> 00:04:20,000 Speaker 1: by Coles and a resurgent Woolworth's. A reporting The Australian 69 00:04:20,080 --> 00:04:24,320 Speaker 1: Today with data from consumer research company Skana, suggests that 70 00:04:24,480 --> 00:04:27,440 Speaker 1: unit sales were down more than four percent and dollar 71 00:04:27,560 --> 00:04:30,400 Speaker 1: sales off one point five percent in the eight weeks 72 00:04:30,520 --> 00:04:33,440 Speaker 1: to December twenty eight, which should be very busy as 73 00:04:33,480 --> 00:04:36,960 Speaker 1: you'd imagine. The biggest falls were in bakery, down seven percent. 74 00:04:37,000 --> 00:04:40,560 Speaker 1: By volume fresh food which was down four percent, beauty 75 00:04:40,640 --> 00:04:43,320 Speaker 1: down nearly nine percent, and pantry items off five point 76 00:04:43,320 --> 00:04:47,799 Speaker 1: six percent. General merchandise unit sales dropped more than thirty 77 00:04:47,880 --> 00:04:51,000 Speaker 1: five percent, though it must be pointed out that these 78 00:04:51,000 --> 00:04:54,640 Speaker 1: figures exclude these center aisle special buyers, for which Aldi 79 00:04:54,760 --> 00:04:58,240 Speaker 1: is renowned. The data suggests that Woolli's and Coals have 80 00:04:58,320 --> 00:05:01,800 Speaker 1: been gaining share, with both reports above market growth in 81 00:05:01,880 --> 00:05:04,800 Speaker 1: recent trading updates. The analysts say the games appeared to 82 00:05:04,800 --> 00:05:08,039 Speaker 1: be coming at Aldi's expense rather than from each other. 83 00:05:08,480 --> 00:05:10,640 Speaker 1: And that's it for the afternoon report for Tuesday, the 84 00:05:10,680 --> 00:05:13,200 Speaker 1: third of March. Make sure you're following the podcast and 85 00:05:13,279 --> 00:05:15,080 Speaker 1: head along to Fear and Greed dot com Today you 86 00:05:15,120 --> 00:05:18,080 Speaker 1: to sign up for our free daily newsletter. I'm Michael Thompson. 87 00:05:18,240 --> 00:05:18,960 Speaker 1: Enjoy your evening.