1 00:00:04,200 --> 00:00:07,040 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:10,239 Speaker 1: for Thursday, the twenty sixth of September twenty twenty four. 3 00:00:10,280 --> 00:00:13,240 Speaker 1: I'm Sean Elmer. Every afternoon, We've got the five stories 4 00:00:13,280 --> 00:00:15,240 Speaker 1: that happened today that you need to know about. Story 5 00:00:15,280 --> 00:00:18,320 Speaker 1: number one, the smp ASEX two hundred rows at one 6 00:00:18,440 --> 00:00:21,800 Speaker 1: percent today to eighty two hundred and four points, led 7 00:00:21,880 --> 00:00:24,920 Speaker 1: hired by news that Beijing will implement steps to boost 8 00:00:25,079 --> 00:00:28,360 Speaker 1: the Chinese economy. That helped the big miners, with force 9 00:00:28,520 --> 00:00:31,000 Speaker 1: U Metals Group up three percent and BHP and Rare 10 00:00:31,080 --> 00:00:34,720 Speaker 1: Tinto rising around two percent, as iron ore futures jumped 11 00:00:34,800 --> 00:00:38,720 Speaker 1: towards ninety seven US dollars a ton. Consumer discretionary stocks 12 00:00:38,760 --> 00:00:41,640 Speaker 1: also did well, with Wesfarmers one and a half cent higher, 13 00:00:41,800 --> 00:00:45,159 Speaker 1: while Aristocrat Leisure and JB Hi Fi both were up 14 00:00:45,240 --> 00:00:48,839 Speaker 1: three percent a fall in oil prices. Hert Woodside and 15 00:00:48,880 --> 00:00:51,760 Speaker 1: santas And both were among the worst performers of the 16 00:00:51,800 --> 00:00:54,960 Speaker 1: ASEX two hundred. The big banks were mixed, while Aria 17 00:00:55,160 --> 00:00:59,560 Speaker 1: and Weistech Global surged. Story number two that story about 18 00:00:59,560 --> 00:01:03,800 Speaker 1: Beijing it stepped in to forcefully resurrect the world's second 19 00:01:03,880 --> 00:01:08,000 Speaker 1: largest economy, with President Chijing Ping and China's top leaders 20 00:01:08,040 --> 00:01:12,680 Speaker 1: calling for sufficient fiscal spending measures to stabilize the beleagued 21 00:01:12,720 --> 00:01:16,840 Speaker 1: property sector and forceful weight cuts. The twenty four man 22 00:01:16,920 --> 00:01:20,679 Speaker 1: Pollop Bureau promised to complete the country's annual economic goals 23 00:01:20,680 --> 00:01:23,679 Speaker 1: that's five percent both this year and China will also 24 00:01:23,760 --> 00:01:27,120 Speaker 1: push for the real estate market to stop declining in 25 00:01:27,200 --> 00:01:29,440 Speaker 1: what appears to be the most forceful val yet to 26 00:01:29,440 --> 00:01:32,240 Speaker 1: stem the free fall in the property market and try 27 00:01:32,280 --> 00:01:35,920 Speaker 1: to stabilize prices. The news helped all commodity prices, or 28 00:01:35,920 --> 00:01:38,600 Speaker 1: at least most commodity prices. It also helped the AUSSI dollar, 29 00:01:38,920 --> 00:01:41,840 Speaker 1: which is now training just under sixty nine usns. Global 30 00:01:41,880 --> 00:01:45,560 Speaker 1: equity markets also rallied on the news, with the Shanghai 31 00:01:45,600 --> 00:01:48,840 Speaker 1: Index jumping more than three percent. Story number three plenty 32 00:01:48,880 --> 00:01:52,120 Speaker 1: of corporate news around the place today. Competition watchdog at 33 00:01:52,120 --> 00:01:55,480 Speaker 1: the Australian Competition and Consumer Commission has given clearance to 34 00:01:55,640 --> 00:01:59,080 Speaker 1: lend Lisa's one point three billion dollar sale of twelve 35 00:01:59,200 --> 00:02:03,120 Speaker 1: residential marks planned community projects to Stockland and a tie 36 00:02:03,160 --> 00:02:06,520 Speaker 1: owned group. Aria Group has struck a deal to acquire 37 00:02:06,560 --> 00:02:09,960 Speaker 1: a nineteen point nine percent interest in digital non bank 38 00:02:10,080 --> 00:02:14,000 Speaker 1: lender Athena Home for sixty two million dollars. Platinum Asset 39 00:02:14,040 --> 00:02:17,280 Speaker 1: Management rejected a takeover offer from Regal Partners, saying the 40 00:02:17,320 --> 00:02:21,000 Speaker 1: deal undervalues Platinum. The implied bid price of a dollars 41 00:02:21,240 --> 00:02:23,760 Speaker 1: ten a share was about a ten percent premium to 42 00:02:23,760 --> 00:02:27,600 Speaker 1: Platinum's previous closing price. However, the statement today from the 43 00:02:27,600 --> 00:02:31,639 Speaker 1: Platinum board said it is still open to considering bids. 44 00:02:31,760 --> 00:02:34,079 Speaker 1: I reckon there'll be more on that one. Lind Energy, 45 00:02:34,080 --> 00:02:37,840 Speaker 1: the country's fourth largest electricity in gas retailer in Japan's 46 00:02:37,960 --> 00:02:41,840 Speaker 1: largest power generation company, JIRA, have been awarded a license 47 00:02:41,880 --> 00:02:44,600 Speaker 1: to develop an offshore wind project that could power al 48 00:02:44,639 --> 00:02:48,160 Speaker 1: Coha's Portland aluminium smelter. And not quite in the list 49 00:02:48,200 --> 00:02:50,920 Speaker 1: of space but interesting all the same. Gold Coast Airport 50 00:02:50,919 --> 00:02:56,480 Speaker 1: owner Queensland Airports has been bought by private equity groups Colberg, Cravis, Roberts, 51 00:02:56,560 --> 00:03:00,320 Speaker 1: KKR and Skip Capital for about three billion dollars. Oussie 52 00:03:00,320 --> 00:03:03,079 Speaker 1: Super was considered favorite by the business, but the US 53 00:03:03,120 --> 00:03:06,080 Speaker 1: based groups won out. Story at number four. The country's 54 00:03:06,160 --> 00:03:12,040 Speaker 1: largest brickmaker, aptly named Brickworks, has announced its first loss 55 00:03:12,080 --> 00:03:15,880 Speaker 1: in decades after writing down its property, portfolio and building 56 00:03:15,960 --> 00:03:19,320 Speaker 1: products business. The Good News is that underlying profit hit 57 00:03:19,440 --> 00:03:23,080 Speaker 1: expectations and the dividend paid out was actually higher. Still, 58 00:03:23,120 --> 00:03:25,000 Speaker 1: Brickworks made a full year loss of one hundred and 59 00:03:25,040 --> 00:03:27,560 Speaker 1: nineteen million dollars, compared to a three hundred and ninety 60 00:03:27,600 --> 00:03:30,960 Speaker 1: five million dollar profit the previous year. Brickworks also has 61 00:03:31,000 --> 00:03:34,800 Speaker 1: investments in other companies, including Washington Hate, Soul Pattinson, the 62 00:03:34,840 --> 00:03:38,040 Speaker 1: Core Brick business in Australia and North America. Up earnings, 63 00:03:38,400 --> 00:03:41,840 Speaker 1: but chief executive Mark Eleanor said the housing market isn't 64 00:03:42,240 --> 00:03:45,920 Speaker 1: likely to improve significantly over the next twelve months. Certainly, 65 00:03:45,920 --> 00:03:49,600 Speaker 1: investors like the News. Brickworks share price jumped seven percent 66 00:03:49,640 --> 00:03:52,160 Speaker 1: today and story at number five. The US and France 67 00:03:52,280 --> 00:03:55,200 Speaker 1: have led international calls for a twenty one day cease 68 00:03:55,240 --> 00:03:58,840 Speaker 1: fire between Israel and the Lebanese militant group hes Blah. 69 00:03:59,360 --> 00:04:02,640 Speaker 1: Ours are after an Israeli military chief told troops to 70 00:04:02,680 --> 00:04:06,240 Speaker 1: prepare for a potential ground offensive in Lebanon. The initiative, 71 00:04:06,400 --> 00:04:10,480 Speaker 1: backed by the G seven, EU, three Arab Nations and Australia, 72 00:04:10,680 --> 00:04:13,520 Speaker 1: called for a swift endorsement of the truce and a 73 00:04:13,520 --> 00:04:16,200 Speaker 1: statement issued on the sidelines of the UN General Assembly 74 00:04:16,240 --> 00:04:19,560 Speaker 1: in New York. According to the Financial Times one senior 75 00:04:19,640 --> 00:04:23,560 Speaker 1: US administration officials at a temporary ceasefire could shake things 76 00:04:23,640 --> 00:04:26,479 Speaker 1: up and create space for a longer term resolution to 77 00:04:26,520 --> 00:04:30,159 Speaker 1: the conflict between Israel and HESBLA, while helping avert the 78 00:04:30,279 --> 00:04:33,520 Speaker 1: threat of a wider regional war. The Biden and administration 79 00:04:33,600 --> 00:04:37,400 Speaker 1: described the initiative as a significant breakthrough. That's it for 80 00:04:37,440 --> 00:04:40,320 Speaker 1: the Afternoon Report for Thursday, the twenty sixth of September 81 00:04:40,360 --> 00:04:42,760 Speaker 1: twenty twenty four. Don't forget to follow on the podcast 82 00:04:43,120 --> 00:04:45,919 Speaker 1: and find Fear and Greed on LinkedIn, Instagram, x TikTok 83 00:04:45,960 --> 00:04:48,440 Speaker 1: and Facebook. Join Michael Thompson and I tomorrow Morning for 84 00:04:48,480 --> 00:04:50,920 Speaker 1: the Fast Five by Fear and Greed, the top five 85 00:04:50,960 --> 00:04:53,400 Speaker 1: business stories you need to know in just five minutes. 86 00:04:53,520 --> 00:04:55,559 Speaker 1: I'm Sean Elmer. Enjoy your evening.