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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 tenth of June twenty twenty five. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the fire stories that

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Speaker 1: happened today that you need to know about. Story number one.

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Speaker 1: The S and PASX two hundred finished at a record

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Speaker 1: high today, up nearly one percent to eight thousand, five

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Speaker 1: hundred and eighty seven point two points. Energy, tech and

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Speaker 1: bank stocks led the way on the back of higher

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Speaker 1: oil prices now that reflects hopes about a US China

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Speaker 1: trade deal, plus hopes that local interest rates will fall

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Speaker 1: again next month. Commonwolf Bank shares hit another record high

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Speaker 1: of one hundred and eighty two dollars and twenty five cents.

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Speaker 1: It's up about forty five percent over the last year.

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Speaker 1: It closed at one hundred and eighty two dollars today,

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Speaker 1: putting its market cap at three hundred and five billion dollars.

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Speaker 1: National Australian Bank a Z and Westpac We're also up

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Speaker 1: around one percent or more. Other strong performers among the

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Speaker 1: large caps included Aria Group, Promedica's Sun corpor Aristocrat Leisure,

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Speaker 1: and Goodman Group. Best on the Day Clarity Pharmaceuticals, which

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Speaker 1: jumped six percent. Zipco also did pretty well. Worst performers

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Speaker 1: on the boss were the gold miners. Story number two

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Speaker 1: Monash IVF Group has reported that it transferred the wrong

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Speaker 1: embryo into a Melbourne woman, the second such incident in

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Speaker 1: two months. In April, at its Brisbane clinic, the embryo

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Speaker 1: of one patient was incorrectly transferred to another patient, resulting

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Speaker 1: in the birth of a child with the wrong parent.

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Speaker 1: In the most recent incident, monash mistakenly transferred to patient's

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Speaker 1: own embryo to her during a process in which she

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Speaker 1: was supposed to receive an embryo from her partner. Monash

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Speaker 1: IVF yesterday said its conducting an internal investigation and had

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Speaker 1: extended the scope of the independent review already underway, and

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Speaker 1: would provide an update on the findings in due course. Now.

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Speaker 1: The share price of Monash IVF fell twenty seven percent today,

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Speaker 1: meaning it's down about forty five percent this year. Story

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Speaker 1: number three shipbuild A Ostel share price jumped and Property

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Speaker 1: services Building Group John Ln Group and into a trading

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Speaker 1: halt on take speculation. In the case of Ostel, South

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Speaker 1: Korea's Henwi Group has been given approval by foreign investment

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Speaker 1: officials in the United States to buy out the entirety

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Speaker 1: of Australia's largest shipbuilder. Hostile specializes in defense vessels, has

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Speaker 1: a major facility in Alabama and the US. That's why

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Speaker 1: US officials are involved. HENWA has been trying to take

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Speaker 1: a large stake and potentially take over Ostel for a

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Speaker 1: few years, but its larger shareholder, the Forest family as

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Speaker 1: in Andrew Forrest, is against any deal. HENWI wants to

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Speaker 1: lift its steake in Hostile to nineteen point nine percent.

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Speaker 1: Requires approvals from the Committee of Foreign Investment in the

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Speaker 1: United States, which has now got and from Australia's Foreign

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Speaker 1: Investment Review Board in the John Lynn case. Media reports

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Speaker 1: say it has received a takeover bid from private equity

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Speaker 1: company PEP. It's now in a training halt. Story Number four.

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Speaker 1: Superannuation funds must implement basic user authentication tools within a

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Speaker 1: matter of months after the Prudential Regulator set a cyber

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Speaker 1: attack on the sector where criminals stole hundreds of thousands

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Speaker 1: of dollars from retirees, exposed persistent weakness in infrastructure. Australian

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Speaker 1: Prducial Regulation Authority Deputy Chair Margaret Coles had the four

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Speaker 1: point two trillion dollar sector had fallen short of the

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Speaker 1: expected standards on cybersecurity, despite regular reminders to get their

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Speaker 1: houses in order. According to the AFAR. Earlier in the year,

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Speaker 1: hacker stole seven hundred and fifty thousand dollars from the

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Speaker 1: Australian Super Members. COAL ordered super funds to implement multi

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Speaker 1: factor authentication for all higher risk activities such as withdrawals,

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Speaker 1: by the end of August. Failure to do so would

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Speaker 1: require the funds to refer to APRAM the executive as

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Speaker 1: in the individual in charge of security. That raises the

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Speaker 1: possibility of punishing individuals if a provider is unable to

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Speaker 1: comply with the regulator's order. Finally, story number five, the

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Speaker 1: corporate regulator wants to make it easier to join the

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Speaker 1: AAX and I hope it will supercharge new flats on

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Speaker 1: the market. ASCIK will launch a two year trial to

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Speaker 1: expedite listing timelines. Under the new process, ASCIK will informally

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Speaker 1: review IPO documents under a fast track process two weeks

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Speaker 1: before formal law. The idea is to reduce deal execution

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Speaker 1: and market volatility risk associated with IPOs. Now, last year,

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Speaker 1: the only IPO is worth more than a billion dollars

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Speaker 1: were Guzmany, Gomaz Data Center, Landlord, Digico Infrastructure, and minor

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Speaker 1: mac Cooper. That ain't enough. There also hasn't been a

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Speaker 1: lot of smaller company's raising capital either, so the ASEX

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Speaker 1: is trying to change things. That's it for the Afternoon

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Speaker 1: Report for Tuesday, the tenth of June twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with a Wednesday edition. For the

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Speaker 1: past five business years by Fearing Greed, I'm sure Elma

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Speaker 1: enjoy you read