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

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Speaker 1: for Monday, the seventeenth of June twenty twenty four. I'm

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Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that

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

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Speaker 1: S and PASX two hundred closed down a zero point

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Speaker 1: three percent today to seven seven hundred points. Pretty lackluster

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Speaker 1: day really, ahead of tomorrow's Reserve Bank interest rate decision.

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Speaker 1: No one expects any change in the official cash rate,

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Speaker 1: but everyone wants to know what the Reserve Bank Board

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Speaker 1: is thinking about when it comes to inflation when it

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Speaker 1: comes back to the market. While I'm sounding a bit

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Speaker 1: like a broken record here, but it was another good

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Speaker 1: day for the bank's National Australia Bank led the Big four,

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Speaker 1: rising zero point seven percent to reach its highest level

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Speaker 1: since January twenty fifteen. Tolstra shareholders also got some relief,

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Speaker 1: with the telco rising one point seven percent, while Aristocrat

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Speaker 1: Leisure jumped one point eight percent. Otherwise, among the large caps,

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Speaker 1: it was mostly bad news, with BHP, Rio, Tinto, Goodman Group,

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Speaker 1: Woodside Energy, and Santos all off more than one percent.

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Speaker 1: Worst for the big caps was Wise Tech Global It

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Speaker 1: was down four percent. Other notables today includes seven Group

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Speaker 1: it fell four point two percent. The A two Milk

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Speaker 1: company dropped four point six percent, best in the day,

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Speaker 1: with Sigma Healthcare up four point three percent. Sorry Number two.

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Speaker 1: Iron Ore fell more than two percent over the last

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Speaker 1: twenty four hours, and copper continues to fall from recent

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Speaker 1: higher levels after a mixed bag of economic data out

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Speaker 1: of China. The data highlighted ongoing week spots in China,

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Speaker 1: especially in the medals intensive property sector. While retail sales

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Speaker 1: were stronger in May, industrial output and fixed acid investment

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Speaker 1: both posted a slower growth, and home prices soften further.

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Speaker 1: Metals prices have fallen over the past month, in large

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Speaker 1: part because of concerns that prices had risen too far

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Speaker 1: relative to demand from China. Investors are hoping that a

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Speaker 1: major gathering of China's leadership next month will announce steps

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Speaker 1: to boost the world's second largest economy. In other commodities,

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Speaker 1: oil fell slightly today, as did gold and the Aussie dollars,

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Speaker 1: buying just under sixty six US cents. Story number three.

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Speaker 1: Surgeons and medical professionals are easily the highest paid occupations,

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Speaker 1: while engineers and the legal profession come in next. Surgeons

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Speaker 1: took home four hundred and eighty thousand dollars in the

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Speaker 1: twenty twenty one twenty two financial year, about six times

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Speaker 1: more than the average Australian worker, according to data released

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Speaker 1: today from the Australian Tax Office. And Ethetists came in

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Speaker 1: next at nearly four hundred and fifty thousand dollars. Then

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Speaker 1: financial dealers, internal medicine specialists and psychiatrists. Mining engineers, IT professionals,

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Speaker 1: legal professionals and CEOs also made the top ten. At

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Speaker 1: the other end of the scale, drivers, personal cares, fast

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Speaker 1: food cooks and hospitality apprentices were among the lowest paid

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Speaker 1: people in the country. Sydney's Eastern suburbs had the highest

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Speaker 1: average tax bill income or parts of Perth Cotslow Pepper mcgrove,

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Speaker 1: they get and honor will mention, as do two Rek

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Speaker 1: and Hawksburn in Melbourne story number four. The latest opinion

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Speaker 1: poll from nine newspapers have given the edge to Option

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Speaker 1: position leader Peter Dunton over Prime Minister Anthony Albernizi, with

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Speaker 1: Labour's primary vote falling to twenty eight percent for the

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Speaker 1: first time. Mister Dutton has gained a narrow lead as

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Speaker 1: preferred Prime Minister thirty six percent to thirty five percent.

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Speaker 1: The Resolve Strategic survey shows at forty percent rank the

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Speaker 1: Coalition better to manage the economy, compared to twenty four

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Speaker 1: percent for Labour. On national security and defense, it's forty

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Speaker 1: two percent in favor of mister Dunn and the Coalition,

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Speaker 1: twenty three percent for mister Albanesi and Labour. The government

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Speaker 1: had only a slight lead over the coalition when it

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Speaker 1: came to managing the environment, but it had a substantial

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Speaker 1: lead around immigration and refugees. Core support for the Coalition

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Speaker 1: is thirty six percent. For Labour, it's twenty eight percent,

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Speaker 1: the last level since Atanian government and the Greens lifted

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Speaker 1: their support from twelve to fourteen percent. And Story number five.

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Speaker 1: Landlord's holiday homes and businesses in New South Wales will

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Speaker 1: be hit by an increase in land taxes in coming years,

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Speaker 1: which the real estate industry says could cost owners thousands

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Speaker 1: of dollars a year, which in turn could end up

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Speaker 1: on redw New South Wales becomes the third state labor

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Speaker 1: government to target multiple property owners with higher taxes following

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Speaker 1: a bigger land tax increase in Victoria and a tax

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Speaker 1: hike attempt in Queensland that was eventually abandoned. The tax

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Speaker 1: hike in Victoria has been blamed as one reason why

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Speaker 1: house prices in that state haven't risen as much as

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Speaker 1: in most other states. A head of handing down the

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Speaker 1: New South Wales state budget tomorrow, treasure Daniel Murky said

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Speaker 1: the tax free thresholds for land tax would be frozen

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Speaker 1: at the twenty twenty four level of one point oh

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Speaker 1: seventy five million dollars and no longer indexed annually. It

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Speaker 1: means more investment properties, holiday homes and commercial real estate

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Speaker 1: will be captured by New South Wales land tax, and

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Speaker 1: existing land tax payers will progressively pay more. Principal places

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Speaker 1: of residents and farms will generally continue to be exempted.

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Speaker 1: As if The Afternoon Report for Monday the seventeenth of

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Speaker 1: June twenty twenty four. Don't forget to hit follow on

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Speaker 1: the podcast and find fear and reread on LinkedIn, Instagram,

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Speaker 1: x TikTok and Facebook. Join Michael Thompson and I Tomorrow'm

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Speaker 1: morning for the Fast five by if you're agreed, the

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Speaker 1: top five business stories you need to know in just

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Speaker 1: five minutes I'm Suan Alma enjoy reading