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Speaker 1: The biggest IPO of the year surges on opening, with

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Speaker 1: Guzmany Gomez's share price closing up thirty percent on day one.

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Speaker 1: The cold snap along the East Coast threatens to disrupt

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Speaker 1: energy supplies, and shopping at Aldi as opposed to colds

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Speaker 1: or Woolworth's, could save shoppers twenty five percent on their

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Speaker 1: grocery bill. Welcome to Fear and Greed. Daily business news

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Speaker 1: for people who make their own decisions. It is Friday,

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Speaker 1: the twenty first of June twenty twenty four. Are Michael

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Speaker 1: Thompson and Good Morning, Sean Aylmer. Good Morning, Michael Seawan.

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Speaker 1: The main story this morning. Guzmani Gomez hit the ASX

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Speaker 1: yesterday and I Shaw found plenty of friends, with its

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Speaker 1: share price surging more than thirty nine percent on opening

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Speaker 1: before finishing up thirty six percent.

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Speaker 2: The listing price is twenty two bucks. It jumped to

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Speaker 2: thirty one dollars, were almost thirty one dollars before closing

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Speaker 2: at thirty dollars a share, meaning its market capitalization pushed

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Speaker 2: above three billion dollars. What's that mean? Well, Domino's Pizza,

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Speaker 2: which has a much much larger footprint and longer history,

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Speaker 2: It's worth about three point three billion dollars. That's a

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Speaker 2: pretty successful opening day for Guzman e Gomez. The fast

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Speaker 2: food group has just one hundred and eighty five outlets,

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Speaker 2: but it's got big plans to hit one thousand stores

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Speaker 2: and push into North America. When it hit the Boss

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Speaker 2: at noon, concept data suggested there were more than fifteen

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Speaker 2: hundred buyers, presumably mostly retail investors, ready to purchase when

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Speaker 2: trading began. Now those buyers were bidding for about one

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Speaker 2: hundred and ninety four thousand shares, only about forty four

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Speaker 2: thousand shares were on offer, hugely over subscribed. It is

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Speaker 2: the biggest IPO on the AX since APM Human Services

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Speaker 2: back in late twenty twenty one. Got a strong management

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Speaker 2: team or analysts like their management team. They also like

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Speaker 2: the idea of this acceleration in store openings. It's profitable

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Speaker 2: at a store level, so therefore it has many friends,

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Speaker 2: at least it did on day one one. Though this

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Speaker 2: is definitely not a sprint, it is a marathon. There

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Speaker 2: were plenty of other people happy to see Goozman do

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Speaker 2: pretty well outside shareholders, simply because we just haven't had

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Speaker 2: many listings on the AX. So the fact that the

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Speaker 2: big one for this year came on jumped you know,

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Speaker 2: eight bucks on opening. People were pretty happy with that.

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Speaker 1: Yeah, it was a big day, wasn't it. And another

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Speaker 1: thing actually happening yesterday the Bitcoin Exchange Traded fund also launched.

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Speaker 1: How did that go? Well?

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Speaker 2: There was much less fanfare about that one, but what

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Speaker 2: happened as a result of the van x etf is

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Speaker 2: probably more influential than the Guzman float for more investors.

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Speaker 2: Vanx etf is the first for the AX and the

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Speaker 2: cost to trade was zero point five nine one percent

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Speaker 2: fifty nine basis points. That's cheap now. Global x competitor

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Speaker 2: also has a crypto etf, one for bitcoin, one for ethereum,

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Speaker 2: but it trades on CBOW, which is a much smaller

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Speaker 2: competitor to the ASEX, more difficult to access that one.

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Speaker 2: There's also a group called Monochrome Asset Management. It's got

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Speaker 2: a bitcoin ETF as well. Global X yesterday morning cut

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Speaker 2: the cost of its trades from one hundred and twenty

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Speaker 2: five basis points to fifty nine basis points, matching their neck.

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Speaker 2: Suddenly it's very cheap to buy these cryptocurrency ETFs. The

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Speaker 2: development of crypto ETFs has put some real competition into

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Speaker 2: that market that's lowered the training prices. That probably has

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Speaker 2: more long term implications in many ways than the actual

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Speaker 2: Guzman float, because it makes training in crypto ets cheaper

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Speaker 2: and certainly more accessible now than they're on the ASX.

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Speaker 1: All right, now, we talked a lot about Guzmini Gomez,

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Speaker 1: but more broadly, how did local markets perform yesterday?

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Speaker 2: There's some PASX two hundred closed down zero point three

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Speaker 2: percent to seven seven hundred and sixty nine points, dragged

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Speaker 2: lower by healthcare and tech stocks. The property sector did best.

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Speaker 2: Once again, wasn't a particularly busy day apart from the

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Speaker 2: Gusman float. Among the large caps, Transurban col csl Them,

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Speaker 2: Acquary Group were some of the worst performers. Ristocrat Leigures,

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Speaker 2: Hun Corbyn COMWELLF Bank some of the best. There were

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Speaker 2: some good news for Telstra's one point three million shareholders.

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Speaker 2: Its share price hit a four week high. They would

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Speaker 2: still down about eleven percent since early February. In corporate news,

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Speaker 2: the price of drone shield shares hit a new record.

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Speaker 2: They're up five hundred and seventy five percent over the

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Speaker 2: past year. Fritz said it had won a contract to

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Speaker 2: supply counter drone hardware to a Swiss customer. So it's

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Speaker 2: very cloak and dagger. That doesn't it it does. It

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Speaker 2: feels like the kind of deal that needs to be

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Speaker 2: done at night. And actually I think they said a

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Speaker 2: Swiss customer, but was a non government Swiss customer. Makes

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Speaker 2: it even a bit more intriguing.

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Speaker 1: Oh my god, I bet they left the drones in

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Speaker 1: a vault somewhere.

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Speaker 2: Yeah, yeah, yeah, he thinks that very Jason.

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Speaker 1: Bourne or James Bond. It doesn't take much for us

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Speaker 1: to get back onto James Bond on this doescast?

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Speaker 2: Does it? No?

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Speaker 1: It doesn't.

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Speaker 2: Finally, on market's best performing in the ASX two hundred

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Speaker 2: was mortgage broker Helia. It pretty much reversed all of

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Speaker 2: Wednesday's decline after it flagged potential lending deal with the

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Speaker 2: Commonwealth Bank. It was up for sixteen percent.

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Speaker 1: All right, let's check international markets. Thanks to blue Chip Communication,

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Speaker 1: the experts helping financial services companies market, communicate and grow,

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Speaker 1: there's a blue chipcommunication, dot com dot AU. Much happening, Sean.

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Speaker 2: Well, I mean, the US had a holiday yesterday, but

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Speaker 2: there were some really good news, our good economic news

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Speaker 2: out of the United Kingdom with inflation hitting the Bank

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Speaker 2: of England's two percent target last month. It means headline

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Speaker 2: inflation in the UK's now below the Eurozone, the US

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Speaker 2: and Australia, but services inflation remains high then expected. Sounds

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Speaker 2: a bit familiar to Australia, doesn't it. It's all good

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Speaker 2: news for Prime Minister Rishi Sunak, who is very much

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Speaker 2: struggling to turn around his wayward election campaign. Upole on

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Speaker 2: the Telegraph this week predicts that mister Sunac could become

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Speaker 2: the first sitting prime minister to lose their seat at

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Speaker 2: a general election. Its forecasting Labor could win five hundred

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Speaker 2: and sixteen seats in the Parliament compared to the Conservatives

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Speaker 2: fifty three. Oh.

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Speaker 1: That would be a landslide.

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Speaker 2: That is more than the West Australian election a couple

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Speaker 2: of years ago was something similar to that, but for

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Speaker 2: a national election that would be a phenomenal result.

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Speaker 1: That's quite extraordinary, it is.

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Speaker 2: And just before we leave markets, Brent cruds a touch lower,

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Speaker 2: goals to touch higher, and the Aussie dollars buying sixty

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Speaker 2: six point seven New West cents.

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Speaker 1: All right, we'll be back in a moment with the

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Speaker 1: rest of the day's business news. Shawn. Today is a

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Speaker 1: very special day. Today is the Winter Solstice, the shortest

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Speaker 1: day of the year and exciting it is, but it

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Speaker 1: is also winter, which means it is cold along the

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Speaker 1: east coast of the country at the moment, and alongside

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Speaker 1: a lack of renewable power generation, there is a risk

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Speaker 1: of gas shortfalls hitting energy supplies.

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Speaker 2: The Australian Energy Market Operator has issued a threat notice

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Speaker 2: warning of the potential for gas supplies to run short

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Speaker 2: at peak times. The regulator said New South Wales, Victoria,

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Speaker 2: the Act South Australian Taste Mania could be affected and

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Speaker 2: the risk lasts until September. The shortage demonstrates the lack

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Speaker 2: of investment in gas in recent years, in part pics

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Speaker 2: of government interference and also the need for gas to

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Speaker 2: be an in from power source in the transition to

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Speaker 2: renewable energy. Part of the problem, according to the gas industry,

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Speaker 2: is a low amount of renewable generation, particularly around wind.

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Speaker 2: In the past three days, average renewables power generation in

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Speaker 2: the electricity market generated twenty one percent, only twenty one

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Speaker 2: percent of the energy used in Victoria. The rest has

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Speaker 2: to come from somewhere.

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Speaker 1: Jean just staying in the energy sector, there was more fallout.

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Speaker 1: If you're this is one of those kind of you

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Speaker 1: need to say those things, don't.

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Speaker 2: You like it? You can't stop yourself.

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Speaker 1: Yeah, Like, if you're going to talk about the nuclear

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Speaker 1: energy debate, if you don't say fallout, then you're just

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Speaker 1: you're disgracing yourself. But there was more fall at yesterday.

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Speaker 2: They're sure, was Opposition leader Pededdutons. And now it's from

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Speaker 2: the seven sites to build nuclear power generators by twenty

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Speaker 2: to fifty has certainly grabbed the headlines that the consensus

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Speaker 2: view seems to be that what's being proposed can't be done.

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Speaker 2: Prime Minister Anthony Alberanezi called the nuclear policy a fantasy act.

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Speaker 2: Independent Senator David Pocock said the policy was reckless and unrealistic.

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Speaker 2: Tasmanian Senator Jackie Lamby said nuclear energy should be in

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Speaker 2: the mix, but she hasn't yet formed a clear view

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Speaker 2: on the coalition's policy. For his part, Peter Dutton warned

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Speaker 2: Australians not to be taken in by Labour scare campaign

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Speaker 2: on nuclear power and two reactors could plausibly be off

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Speaker 2: the ground by twenty thirty five.

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Speaker 1: Shawn I mention this one at the top of the show.

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Speaker 1: Shopping at ALDI can save customers about twenty five percent

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Speaker 1: compared to buying at Colds and Woolies. This is according

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Speaker 1: to consumer Group.

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Speaker 2: Choice based on a basket of fourteen commonly bought grocery

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Speaker 2: items including milk, bread, sugar, tea bags, fresh fruits and veggies.

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Speaker 2: Choice used undercover shoppers very exciting to record prices from

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Speaker 2: eighty one supermarkets across the country. Also that included a

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Speaker 2: few Ida stores. The cost at ALDI was fifty one

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Speaker 2: dollars and fifty one cents. At Woolies it was sixty

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Speaker 2: eight dollars and fifty eight cents, and at Coals sixty

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Speaker 2: nine dollars and thirty three cents. Now, when specials that

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Speaker 2: were available were applied, Woolies fell to sixty four dollars

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Speaker 2: ninety three cents, well below Coals, but nowhere near as

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Speaker 2: low as Aldi. Broadly, Ali's cheapest, and there's not much

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Speaker 2: difference between Woolies and Coals now. While the data is

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Speaker 2: a bit scarce on IgA, it does appear to be

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Speaker 2: more expensive. Among the major states, Western Australia's the most expensive.

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Speaker 2: Perhaps somewhat surprisingly, capital cities are slightly more expensive than

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Speaker 2: regional centers. According to Choice, this is all part of

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Speaker 2: the federal government's one point one million dollar package it

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Speaker 2: gave to Choice to check supermarket prices quarterly. You know

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Speaker 2: it's come out saying, Aldie's a lot cheaper.

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Speaker 1: It's on my bucket list. Did you know, Sean to

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Speaker 1: be a mystery shopper?

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Speaker 2: Oh?

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Speaker 1: Really, yeah, I think I'd be a real the good

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Speaker 1: mystery shop. One of those people are just kind of

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Speaker 1: I don't stand out when I'm at when I'm in

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Speaker 1: a shop, I do think I just are you trying

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Speaker 1: to No, I just kind of blend into the background,

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Speaker 1: and that's what's supposed to do. I suppose you need

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Speaker 1: to just look like you're just a regular Joe. Just

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Speaker 1: they're just doing the grocery, doing the groceries.

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Speaker 2: It is my goal, Oh, Michael, I don't know where

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Speaker 2: to go with that.

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Speaker 1: No, I don't think it needs to go anywhere. I'm

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Speaker 1: just putting it out there into the universe in the

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Speaker 1: hope that maybe a mystery shop a company will be

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Speaker 1: listening and will contact me and let me fulfill my dream.

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Speaker 2: Sean.

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Speaker 1: There's a bit going on in the commercial property sector

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Speaker 1: with two big players, Meurvak and Dexas writing down the

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Speaker 1: value of buildings.

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Speaker 2: We talked a fair bit about this last year. The

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Speaker 2: value of many commercial buildings have fallen post COVID because

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Speaker 2: of work from home. It's col demand for office space.

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Speaker 2: Owners have held onto the assets. They don't really want

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Speaker 2: to sell them in the down market deal flaw has

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Speaker 2: been negligible in that mark in the past eighty months,

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Speaker 2: but ultimately they have to be revalued. Sometimes they have

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Speaker 2: to sell them. Yesterday, Dexter said it would lower the

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Speaker 2: valuations of its office proper is by eleven percent this

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Speaker 2: financial year. Mervak It said it was going to sell

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Speaker 2: a thirty four story office tower in Melbourne CBD and

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Speaker 2: an eleven story building in North Sydney for a combined

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Speaker 2: twenty percent discount to peak values. That is really taking

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Speaker 2: a haircut, yeah.

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Speaker 1: Sure is sean. More than half of all Australians don't

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Speaker 1: expect to fully own their own home by the time

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Speaker 1: they retire, and a similar proportion think that they will

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Speaker 1: outlive their retirement savings.

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Speaker 2: A survey by Vanguard shows that one in five Australians

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Speaker 2: are renting in retirement and thirty percent expect to still

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Speaker 2: be paying a mortgage in retirement. Vanguard Australia Managing Director

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Speaker 2: Daniel Shrimsky calls it a sleeper issue because most forecasts

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Speaker 2: for retire and assume no housing debt, but that's not

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Speaker 2: actually the reality for the majority of retirees. They're either

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Speaker 2: paying rent or still paying the mortgage. The twenty twenty

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Speaker 2: four How Australia Retires research shows that forty percent of

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Speaker 2: Australians have no clear plan for retirement and about half

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Speaker 2: the population don't know how much they pay in superannuation fees. Increasingly,

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Speaker 2: Australians are worried that their money won't last in retirement,

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Speaker 2: with eighty percent of Australians somewhat or very worried about

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Speaker 2: running out of money. Mister Shrimpsky says the research shows

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Speaker 2: that planning and having access to a financial advisor gives

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Speaker 2: Australians a bit of chance at a successful retirement. But

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Speaker 2: still that might be true, but still the most popular

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Speaker 2: source of retirement income information and guidance free online sources

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Speaker 2: such as Google sawan.

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Speaker 1: After the show, you have an interview coming up with

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Speaker 1: Daniel Shrimsky, Managing director of Vanguard Australia, to really kind

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Speaker 1: of get into these findings.

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Speaker 2: Yeah, we get into the needy gritty of what's being said.

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Speaker 2: It's actually a bit of a scary interview if you

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Speaker 2: just think of the lack of preparedness for retirement for

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Speaker 2: so many people. So it's well worth a listen, even

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Speaker 2: if it just prompts you to do something to yourself

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Speaker 2: about saving for the future. And this isn't something that

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Speaker 2: for sixty year olds or fifty five year olds. It's

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Speaker 2: something for twenty five year old as well.

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Speaker 1: Yeah, it's a bit of a wake up call overall. Now,

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Speaker 1: Treasury wine Es State's boss Tim Ford has warned it

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Speaker 1: will take three years to rebuild the company's business in China.

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Speaker 1: Despite a surge in sales of its flagship Penfolds brand

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Speaker 1: since authorities lifted tariffs last.

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Speaker 2: Month, profits at its Penfolds business were expected to grow

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Speaker 2: about fifteen percent this financial year. However, the cost of

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Speaker 2: restarting a once lucrative trade to China will cut into margins.

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Speaker 2: Treasury is also lifting prices on July one on his

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Speaker 2: top tier products one in three, eight nine, BIN four

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Speaker 2: oh sevens by an average about six percent across all markets.

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Speaker 2: Mister Ford said Penfolds would not return to the profits

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Speaker 2: it had recorded before the imposition of higher tariffs by

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Speaker 2: officials in China until twenty twenty seven, according to report

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Speaker 2: in the fin Review, but growth in premium and Luxury

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Speaker 2: one categories were still outstripping those of the lower cost

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Speaker 2: product lines.

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Speaker 1: And Mineral Resources is shutting down its high cost iron

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Speaker 1: are mines in the Yilgan region of Western Australia, affecting

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Speaker 1: a thing workers.

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Speaker 2: The group said it will try and deploy as many

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Speaker 2: workers as possible in its other iron ore and lithium

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Speaker 2: minds in the state. Mineral Resources made the decision to

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Speaker 2: focus on its more promising iron ore sights, including in

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Speaker 2: the Pilborough where last month it loaded it's made and

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Speaker 2: shipment bound for China. Over the past week, the group's

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Speaker 2: also agreed to purchase iron or assets in the Pilburg

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Speaker 2: region from BCI Minerals. The company said that the decision

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Speaker 2: to close the Yilgan mine had been influenced by a

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Speaker 2: combination of factors, including the limited remaining life of the

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Speaker 2: five operating mines spread over two hundred and twenty klometers,

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Speaker 2: and the significant capital costs and lead time required to

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Speaker 2: develop new resources to ensure continuity of supply.

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Speaker 1: Okay turning to international news now, an energy demand is

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Speaker 1: growing faster than renewables output, meaning greenhouse gas emissions from

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Speaker 1: energy hit a record high last year as demand for

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Speaker 1: fossil fuels rows despite a big increase in renewable power.

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Speaker 2: A bit worrying, these energy emissions increased two percent in

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Speaker 2: twenty twenty three to exceed forty gigatons of carbon equivalent

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Speaker 2: for the first time. According to the Energy Institute's Statistical

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Speaker 2: or Review of World Energy, the group said clean energy

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Speaker 2: is still not even meeting the entirety of demand growth,

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Speaker 2: so on that basis, you can arguably say the energy

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Speaker 2: transition hasn't actually started yet. According to report in the

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Speaker 2: Financial Times, fossil fuel use accelerated in high growth countries

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Speaker 2: such as India, but there were signs demand had reached

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Speaker 2: a peak. In Europe, the US and other advanced economies,

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Speaker 2: fossil fuels share and the energy mix dip slightly, but

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Speaker 2: it's still at eighty one point five percent of total

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Speaker 2: energy years. Still a long long way to go.

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Speaker 1: Yeah, sure is finally sewn. The boss of Boeing says

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Speaker 1: that he understands concerns about the safety culture at the

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Speaker 1: aircraft manufacturer. That action is being taken and progress made

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Speaker 1: to turn things around.

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Speaker 2: Yes, a man under fire. The company has been under

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Speaker 2: the spotlight since an unused door fell off a brand

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Speaker 2: new seventy three seven Max plane during a flight operated

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Speaker 2: by Lascar Airlines, leaving a hole in the aircraft. Since then,

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Speaker 2: whistleblowers have told the US Senate that the seven three

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Speaker 2: seven Max, the seven eight seven Dreamliner, and the Triple

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Speaker 2: seven models have all had serious production issues. Bowing boss

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Speaker 2: Dave Calhoun, appearing before the Senate, said he understands the

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Speaker 2: gravity of the situation, and he also apologized for accidents

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Speaker 2: involving seven three seven Max aircraft five years ago. Maybe

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Speaker 2: investors aren't convinced. Boeing share price is down thirty percent

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Speaker 2: this year. Okay.

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Speaker 1: Up next is the Fear and Greed Daily Interview. As

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Speaker 1: we mentioned before, you're speaking with Daniel Shrimsky from Vanguard.

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Speaker 2: All about saving for retirement and just the need to

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Speaker 2: do something sooner rather than later, like do it today,

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Speaker 2: don't wait.

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Speaker 1: Yeah, man, it's a good listen. It is up next

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Speaker 1: to the Fear and Greed playlist on your podcast platform

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Speaker 1: or at Fearangreed dot com dot au, which is where

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Speaker 1: you can also sign up for the Fear and Greed

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Speaker 1: weekly newsletter. The free weekly newsletter I might add, Sean,

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Speaker 1: if you pop your email address in you will get

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Speaker 1: it next Wednesday morning when it comes out. This week's newsletter.

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Speaker 1: Spectacular response to it this week, Sean, Is that right?

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Speaker 2: Yes?

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Speaker 1: Really, I really enjoyed it. It was a very very

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Speaker 1: good read. Great to see your hear your views on

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Speaker 1: a lot of stories because often really on these shows

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Speaker 1: you do tend to stick to the facts. In the newsletter,

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Speaker 1: we hear what you really think, and sometimes it can

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Speaker 1: be a little bit.

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Speaker 2: Controversial, maybe maybe maybe.

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Speaker 1: A little bit spicy. All right, Thank you very much, Sewan.

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Speaker 2: Thanks Michael.

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Speaker 1: It is Friday, the twenty first of June twenty twenty four.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael

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Speaker 1: Thompson And that was Fear and Greed. Have a great day.