1 00:00:04,040 --> 00:00:06,600 Speaker 1: Welcome to the Fear and Greed Business Years. Afternoon Report 2 00:00:06,640 --> 00:00:09,320 Speaker 1: for Thursday, the twelfth of June twenty twenty five. I'm 3 00:00:09,360 --> 00:00:11,960 Speaker 1: Sean A. Elmer. Every afternoon we've got the five stories 4 00:00:12,000 --> 00:00:14,040 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,040 --> 00:00:17,279 Speaker 1: in Amuana. The S and p ASX two hundred finished 6 00:00:17,280 --> 00:00:19,599 Speaker 1: down zero point three percent today to eight thousand, five 7 00:00:19,680 --> 00:00:23,520 Speaker 1: hundred and sixty five points. Generally, the mining stocks did best, 8 00:00:23,600 --> 00:00:27,320 Speaker 1: while some of the battery medals companies did worst. Northern 9 00:00:27,360 --> 00:00:29,680 Speaker 1: Star was a bit of a standout, up two percent. 10 00:00:30,040 --> 00:00:32,320 Speaker 1: All the big banks well are as were the big 11 00:00:32,320 --> 00:00:34,720 Speaker 1: three miners four to SQW Medals was down three percent. 12 00:00:35,080 --> 00:00:39,120 Speaker 1: The more stable stocks did best. I think CSL, West Farmers, 13 00:00:39,280 --> 00:00:43,519 Speaker 1: Telstra Transurban, those sorts of companies. Story number two. Staying 14 00:00:43,600 --> 00:00:47,040 Speaker 1: in financial markets, US President Donald Trump is putting pressure 15 00:00:47,040 --> 00:00:49,800 Speaker 1: on the Federal Reserve to cut interest rates after benign 16 00:00:49,880 --> 00:00:54,360 Speaker 1: inflation figures were released overnight in the US. The May 17 00:00:54,480 --> 00:00:58,680 Speaker 1: CPI shows modest price increases, with inflation up two point 18 00:00:58,760 --> 00:01:01,200 Speaker 1: four percent for the year. The underlying rate is two 19 00:01:01,200 --> 00:01:04,320 Speaker 1: point eight percent. Sounds very much like Australia, doesn't it. 20 00:01:04,480 --> 00:01:06,880 Speaker 1: The Fed's meeting next week and Donald Trump called the 21 00:01:06,880 --> 00:01:10,360 Speaker 1: inflation figures great, adding that the FED should cut rates 22 00:01:10,360 --> 00:01:13,039 Speaker 1: by one percentage point. That ain't going to happen. The 23 00:01:13,120 --> 00:01:16,080 Speaker 1: challenge for the FED is whether the Trump tariffs will 24 00:01:16,120 --> 00:01:19,679 Speaker 1: add to inflation. Story number three. Voters in Tasmania are 25 00:01:19,760 --> 00:01:23,160 Speaker 1: heading to their second election in fifteen months after Parliament 26 00:01:23,280 --> 00:01:25,720 Speaker 1: last week passed a vote of no confidence in Premier 27 00:01:25,800 --> 00:01:29,959 Speaker 1: Jeremy Rockcliffe, and then last night Tasmanian Governor Barbara Baker 28 00:01:30,040 --> 00:01:33,280 Speaker 1: agreed to dissolve the House of Assembly. Tazzy watchers say 29 00:01:33,280 --> 00:01:35,600 Speaker 1: it will be difficult for either the Liberal or Labor 30 00:01:35,640 --> 00:01:38,480 Speaker 1: government to form a majority government. The Liberal has been 31 00:01:38,480 --> 00:01:40,920 Speaker 1: in power since twenty fourteen, but have been leading a 32 00:01:41,040 --> 00:01:44,800 Speaker 1: minority government over the last thirteen or fourteen months or so. 33 00:01:44,840 --> 00:01:49,320 Speaker 1: There are fourteen Liberal MPs, ten Labor MPs, five Greens 34 00:01:49,440 --> 00:01:52,520 Speaker 1: and six independents. An IFL team seems to be the 35 00:01:52,520 --> 00:01:56,160 Speaker 1: big political talking point. Both major parties support a second 36 00:01:56,200 --> 00:01:59,760 Speaker 1: stadium in Hobar, which they condition of the AFL for 37 00:01:59,800 --> 00:02:02,440 Speaker 1: the U S Tasmanian Devils to enter the League in 38 00:02:02,440 --> 00:02:05,280 Speaker 1: twenty twenty eight, but the Greens and several independents are 39 00:02:05,360 --> 00:02:08,600 Speaker 1: opposed to it. Storry number four. In corporate news, monash 40 00:02:08,680 --> 00:02:12,880 Speaker 1: ivf row sharply for the second successive day, and today 41 00:02:12,880 --> 00:02:16,520 Speaker 1: it announced that chief executive Michael Knapp had resigned following 42 00:02:16,520 --> 00:02:19,960 Speaker 1: the company reporting its second embryo incident in as many months. 43 00:02:20,280 --> 00:02:22,480 Speaker 1: The two days of rising follows in your thirty per 44 00:02:22,480 --> 00:02:26,720 Speaker 1: cent tumble. On Tuesday, Cockley's share price was flat after 45 00:02:26,720 --> 00:02:29,959 Speaker 1: the hearing Implant Companies slightly downgraded its earnings guidance following 46 00:02:30,000 --> 00:02:34,000 Speaker 1: slower than expected sales growth this year. Adeal Energy's shares 47 00:02:34,080 --> 00:02:39,080 Speaker 1: dropped after it set its conducting preliminary investigations about offloading 48 00:02:39,160 --> 00:02:44,000 Speaker 1: its stake in Tilt Renewables and and Ax Limited. The 49 00:02:44,080 --> 00:02:46,720 Speaker 1: company fell sharply to an almost two month low after 50 00:02:46,880 --> 00:02:49,880 Speaker 1: warned of an increase in expense growth next financial year. Finally, 51 00:02:49,880 --> 00:02:53,000 Speaker 1: story number five, US troops deployed in Los Angeles have 52 00:02:53,120 --> 00:02:56,600 Speaker 1: been authorized to detain people until police can arrest them, 53 00:02:56,840 --> 00:02:59,280 Speaker 1: as hundreds of Marines prepared to move into the city. 54 00:02:59,560 --> 00:03:02,280 Speaker 1: Let's say significant step up from being ordered to protect 55 00:03:02,480 --> 00:03:05,799 Speaker 1: US person and property. The seven hundred Marines and four 56 00:03:05,840 --> 00:03:09,760 Speaker 1: thousand National Guard troops can detain people until law enforcement 57 00:03:09,960 --> 00:03:13,080 Speaker 1: arrests them. The protests over Donald Trump's immigration rates have 58 00:03:13,120 --> 00:03:16,600 Speaker 1: spread from California to other US cities, with hundreds of 59 00:03:16,639 --> 00:03:20,280 Speaker 1: demonstrations planned for this coming weekend. As if the Afternoon 60 00:03:20,320 --> 00:03:22,839 Speaker 1: Report for Thursday, the twelfth of June twenty twenty five, 61 00:03:22,880 --> 00:03:25,000 Speaker 1: make sure you follow on the podcast. We will be 62 00:03:25,000 --> 00:03:27,400 Speaker 1: back tomorrow morning with the Friday edition of the Past 63 00:03:27,400 --> 00:03:30,200 Speaker 1: five Business Years by Peer and Greek. I'm Seane Elmer. 64 00:03:30,600 --> 00:03:31,200 Speaker 1: Enjoy your reason