1
00:00:03,440 --> 00:00:06,000
Speaker 1: Well, welcome to the Fear and Greed Business News Afternoon

2
00:00:06,040 --> 00:00:09,360
Speaker 1: Report for Monday, the seventeenth of November. I'm Michael Thompson,

3
00:00:09,360 --> 00:00:11,840
Speaker 1: and every afternoon we have the five big stories that

4
00:00:11,920 --> 00:00:13,960
Speaker 1: you need to know about. Let's get going a story

5
00:00:14,000 --> 00:00:18,160
Speaker 1: Number one. The SMPA SEX two hundred closed just two

6
00:00:18,239 --> 00:00:21,360
Speaker 1: points higher today to eighty six hundred and thirty six points.

7
00:00:21,360 --> 00:00:24,280
Speaker 1: I would call that pretty flat. It comes as investors

8
00:00:24,320 --> 00:00:26,880
Speaker 1: are waiting on data to start flowing in the US

9
00:00:26,920 --> 00:00:30,800
Speaker 1: again after the government shutdown. The backlog of economic data

10
00:00:30,800 --> 00:00:35,280
Speaker 1: reports will help shape interest rate expectations locally. Though Commonwealth

11
00:00:35,360 --> 00:00:38,600
Speaker 1: Bank fell one percent today, the other three big banks

12
00:00:38,600 --> 00:00:42,840
Speaker 1: were either up slightly or flat. BHP was zero point

13
00:00:42,960 --> 00:00:46,400
Speaker 1: six percent lower today. Everyone was watching that one closely.

14
00:00:46,479 --> 00:00:50,159
Speaker 1: Investors digesting the news that the miner was liable for

15
00:00:50,200 --> 00:00:53,800
Speaker 1: the twenty fifteen Somaco dam collapse in Brazil. We talked

16
00:00:53,800 --> 00:00:57,280
Speaker 1: about the ruling in this morning's episode. The decision from

17
00:00:57,320 --> 00:01:01,040
Speaker 1: the UK High Court could see BHP and Brazilian Minor

18
00:01:01,160 --> 00:01:05,880
Speaker 1: Valley up for billions of dollars more in compensation. That

19
00:01:06,040 --> 00:01:10,040
Speaker 1: is in addition to existing agreements with the Brazilian government.

20
00:01:10,440 --> 00:01:13,640
Speaker 1: Agribusiness Elders share price serves more than six percent today,

21
00:01:13,680 --> 00:01:17,039
Speaker 1: even though it's underlying earnings for the last year came

22
00:01:17,120 --> 00:01:21,840
Speaker 1: in below expectations, the group's constructive outlook statement impressed investors.

23
00:01:22,160 --> 00:01:24,360
Speaker 1: A bunch of well known stocks hit fifty two week

24
00:01:24,480 --> 00:01:28,720
Speaker 1: lows today, including Treasury, Wine Estates, Wires Tech Global, and Zero.

25
00:01:29,440 --> 00:01:31,760
Speaker 1: While it was overall a pretty steady day on the

26
00:01:31,760 --> 00:01:34,800
Speaker 1: local boss, there is still plenty happening in markets. Bitcoin,

27
00:01:34,880 --> 00:01:37,640
Speaker 1: for instance, as trading around ninety five thousand US dollars

28
00:01:37,680 --> 00:01:39,480
Speaker 1: a unit. Will have a bit more on this one

29
00:01:39,840 --> 00:01:43,560
Speaker 1: in tomorrow morning's episode on to story number two. Now

30
00:01:43,600 --> 00:01:47,240
Speaker 1: and the property market just recorded its busiest auction week

31
00:01:47,360 --> 00:01:50,960
Speaker 1: since March, with three two hundred and fifty eight Capital

32
00:01:51,000 --> 00:01:54,040
Speaker 1: City homes going under the hammer and seven to ten

33
00:01:54,120 --> 00:01:58,760
Speaker 1: properties selling despite fading hopes of future rate cuts. At

34
00:01:58,800 --> 00:02:02,279
Speaker 1: Melbourne led the activity with one four hundred and eighty

35
00:02:02,320 --> 00:02:05,080
Speaker 1: four auctions. That's the third busiest week of the year,

36
00:02:05,120 --> 00:02:08,160
Speaker 1: with a clearance rate of seventy point five percent. Sydney

37
00:02:08,200 --> 00:02:13,079
Speaker 1: followed with about two hundred less auctions and then its

38
00:02:13,120 --> 00:02:17,880
Speaker 1: strongest preliminary clearance rate in a month at seventy point

39
00:02:17,880 --> 00:02:23,400
Speaker 1: eight percent. Auctions have been fairly steady. Agents say buyer

40
00:02:23,480 --> 00:02:27,360
Speaker 1: demand remained strong, with ray White reporting an average of

41
00:02:27,400 --> 00:02:30,960
Speaker 1: three point one bidders per auction, up from two point

42
00:02:31,000 --> 00:02:34,160
Speaker 1: six last year. Tim lawlece from Totality, which is where

43
00:02:34,160 --> 00:02:36,440
Speaker 1: a lot of this data comes from. It says that

44
00:02:36,560 --> 00:02:39,840
Speaker 1: prices are being supported by very low supply, with listings

45
00:02:39,919 --> 00:02:44,239
Speaker 1: still tracking around eighteen percent below average. Story number three

46
00:02:44,360 --> 00:02:47,640
Speaker 1: US energy giant Conoco Phillips has made a major gas

47
00:02:47,639 --> 00:02:50,800
Speaker 1: discovery off the Victorian Coast. The discovery is in the

48
00:02:50,800 --> 00:02:54,600
Speaker 1: Otway Basin, southwest of Port Campbell and comes two weeks

49
00:02:54,639 --> 00:02:57,320
Speaker 1: after drilling commenced in the area, which is about fifty

50
00:02:57,400 --> 00:03:02,079
Speaker 1: kilometers offshore and twelve kilometers from existing gas production wells.

51
00:03:02,440 --> 00:03:05,600
Speaker 1: The hope is that the discovery can contribute to alleviating

52
00:03:05,639 --> 00:03:09,040
Speaker 1: pressure on gas supplies along the East Coast. Conoco and

53
00:03:09,160 --> 00:03:12,800
Speaker 1: partner Korean National Oil Corporation were aiming to find about

54
00:03:12,800 --> 00:03:16,120
Speaker 1: two hundred and sixty billion cubic feet of resources in

55
00:03:16,160 --> 00:03:19,680
Speaker 1: two separate reservoirs, and the early results of the drilling

56
00:03:19,760 --> 00:03:23,000
Speaker 1: came in largely in line with expectations. One winner from

57
00:03:23,000 --> 00:03:26,600
Speaker 1: the find was its junior drilling partner, three D Energy,

58
00:03:26,760 --> 00:03:29,760
Speaker 1: that's energy with an eye at the end. Its share

59
00:03:29,800 --> 00:03:33,560
Speaker 1: price jumped more than fifty percent. Story number four. More

60
00:03:33,600 --> 00:03:37,880
Speaker 1: than two hundred and seventy thousand malicious emails impersonating Services

61
00:03:37,920 --> 00:03:41,880
Speaker 1: Australia and Centrelink have flooded Australian inboxes over the past

62
00:03:41,880 --> 00:03:45,920
Speaker 1: four months in one of the nation's largest ever phishing campaigns.

63
00:03:46,280 --> 00:03:50,640
Speaker 1: The sophisticated attacks have specifically targeted the country's most vulnerable citizens,

64
00:03:50,640 --> 00:03:53,720
Speaker 1: according to a report in nine Media, and was uncovered

65
00:03:53,720 --> 00:03:58,440
Speaker 1: by human risk management platform mimecast. Attackers are using artificial

66
00:03:58,480 --> 00:04:03,160
Speaker 1: intelligence to create really what are near perfect clones of

67
00:04:03,280 --> 00:04:08,560
Speaker 1: legitimate government communications. The emails mimic government correspondence about medicare,

68
00:04:08,760 --> 00:04:12,840
Speaker 1: about job seeker payments, superannuation, and family tax benefits with

69
00:04:13,440 --> 00:04:19,520
Speaker 1: alarming accuracy. The scam is pretty broad. It's going to individuals, schools, hospitals,

70
00:04:19,600 --> 00:04:24,920
Speaker 1: law firms, corporations, and even government agencies themselves. Finally, Story

71
00:04:25,000 --> 00:04:28,640
Speaker 1: number five, US President Donald Trump is urging Republicans now

72
00:04:28,760 --> 00:04:32,760
Speaker 1: to vote to release the so called Epstein files, saying

73
00:04:32,839 --> 00:04:35,880
Speaker 1: he has quote nothing to hide and he wants Congress

74
00:04:35,920 --> 00:04:38,479
Speaker 1: to move on. But there are concerns the release could

75
00:04:38,520 --> 00:04:42,440
Speaker 1: be limited by new criminal investigations Trump has ordered into

76
00:04:42,480 --> 00:04:46,400
Speaker 1: the late sex offender Jeffrey Epstein's links to prominent Democrats,

77
00:04:46,440 --> 00:04:50,560
Speaker 1: including Bill Clinton. Trump told Republicans to back a bill

78
00:04:50,600 --> 00:04:53,520
Speaker 1: that would force publication of the files, saying Democrats are

79
00:04:53,600 --> 00:04:57,239
Speaker 1: using Epstein as a distraction from his achievements, including ending

80
00:04:57,279 --> 00:05:01,000
Speaker 1: the recent government shutdown. Epstein died in jail in twenty

81
00:05:01,080 --> 00:05:05,120
Speaker 1: nineteen while awaiting trial on sex trafficking charges. His associate,

82
00:05:05,160 --> 00:05:08,640
Speaker 1: Gilead Maxwell, is serving a twenty year sentence. That's it

83
00:05:08,680 --> 00:05:11,920
Speaker 1: for the afternoon Report for Monday, the seventeenth of November.

84
00:05:12,440 --> 00:05:14,560
Speaker 1: Make sure you're following the podcast and head along to

85
00:05:14,640 --> 00:05:17,719
Speaker 1: Fearangreed dot com dot au or check the link in

86
00:05:17,800 --> 00:05:19,960
Speaker 1: our show notes to sign up for our free daily

87
00:05:20,040 --> 00:05:22,760
Speaker 1: newsletter in your inbox every morning by six am. A

88
00:05:22,800 --> 00:05:24,719
Speaker 1: great cheat cheap to get you started for the day.

89
00:05:24,920 --> 00:05:26,880
Speaker 1: I'm Michael Thompson. Have a great evening,