1
00:00:03,440 --> 00:00:06,440
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,519 --> 00:00:09,480
Speaker 1: for Tuesday, the twenty fourth of March twenty twenty six.

3
00:00:09,520 --> 00:00:11,799
Speaker 1: I'm Michael Thompson, and every afternoon we've got the five

4
00:00:11,840 --> 00:00:14,000
Speaker 1: stories that happened today that you need to know about.

5
00:00:14,440 --> 00:00:16,360
Speaker 1: Let's go a story number one. The S and PA

6
00:00:16,560 --> 00:00:20,080
Speaker 1: SEX two hundred closed zero point two percent higher today

7
00:00:20,120 --> 00:00:23,119
Speaker 1: to eighty three hundred and seventy nine points after a

8
00:00:23,280 --> 00:00:27,120
Speaker 1: very strong start to the day. The market surged one

9
00:00:27,160 --> 00:00:29,920
Speaker 1: point three percent this morning on hopes of a de

10
00:00:30,120 --> 00:00:33,040
Speaker 1: escalation in the Middle East. There were suggestions from US

11
00:00:33,080 --> 00:00:36,160
Speaker 1: President Donald Trump the peace talks of a sort were

12
00:00:36,280 --> 00:00:40,680
Speaker 1: underway that caused oil prices to tumble, but Iran described

13
00:00:40,760 --> 00:00:44,199
Speaker 1: the reports as fake news, and the optimism faded slightly

14
00:00:44,840 --> 00:00:47,800
Speaker 1: as well on signs that the United Arab Emirates and

15
00:00:47,960 --> 00:00:51,440
Speaker 1: Saudi Arabia may be preparing to enter the conflict as well.

16
00:00:51,800 --> 00:00:55,800
Speaker 1: Oil prices climbed again. Locally, Energy stocks were mixed. Ampole

17
00:00:55,920 --> 00:00:59,640
Speaker 1: was up one point two percent, Woodside slipped slightly, Mining

18
00:00:59,680 --> 00:01:02,720
Speaker 1: stoff led the game's BHP was up three percent, Rea

19
00:01:02,840 --> 00:01:05,280
Speaker 1: tinto more than two percent, while gold mine is also

20
00:01:05,440 --> 00:01:09,720
Speaker 1: rebounded despite a weaker gold price. The prospect of those

21
00:01:09,880 --> 00:01:14,480
Speaker 1: easing tensions hit defense stocks like electro optic Systems and

22
00:01:14,600 --> 00:01:17,720
Speaker 1: drone shield Both of those were off nearly seven percent,

23
00:01:18,560 --> 00:01:21,080
Speaker 1: and the banks were mixed, with A and Z edging

24
00:01:21,200 --> 00:01:24,640
Speaker 1: higher while others lost ground. Onto story number two. In

25
00:01:24,640 --> 00:01:27,920
Speaker 1: a case of very poor timing, Santos, the oil and

26
00:01:27,959 --> 00:01:31,640
Speaker 1: gas giants, has suffered a stoppage at its new six

27
00:01:31,760 --> 00:01:35,119
Speaker 1: billion dollar Barossa gas project in the t ORC, cutting

28
00:01:35,160 --> 00:01:39,720
Speaker 1: exports from its recently restarted Darwin LNG planned. It comes

29
00:01:39,800 --> 00:01:43,240
Speaker 1: just as global gas markets face a severe squeeze because

30
00:01:43,280 --> 00:01:46,720
Speaker 1: of the loss of exports from Qatar. The company said

31
00:01:46,720 --> 00:01:50,480
Speaker 1: that the temporary shutdown of Darwin LNG was required by

32
00:01:50,480 --> 00:01:54,240
Speaker 1: the replacement of some equipment on the offshore production vessel

33
00:01:54,400 --> 00:01:57,960
Speaker 1: used at Barossa. While a shutdown was planned, there was

34
00:01:58,040 --> 00:02:02,080
Speaker 1: no date given for reopening. Some global gas prices have

35
00:02:02,160 --> 00:02:05,280
Speaker 1: more than doubled since the beginning of the Middle East War.

36
00:02:05,720 --> 00:02:09,840
Speaker 1: Santos's share price fell two point six percent today Under

37
00:02:09,880 --> 00:02:13,000
Speaker 1: story number three. New South Wales Premier Chris Mins has

38
00:02:13,000 --> 00:02:16,919
Speaker 1: called for COVID style protocols to manage the escalating fuel crisis,

39
00:02:17,600 --> 00:02:21,080
Speaker 1: raising the prospect of national rules for rationing and working

40
00:02:21,120 --> 00:02:25,320
Speaker 1: from home should the situation get worse. Mins told New

41
00:02:25,360 --> 00:02:29,080
Speaker 1: South Wales Parliament that any demand management measures, including fuel

42
00:02:29,120 --> 00:02:33,040
Speaker 1: rationing or remote work should be applied consistently across the country,

43
00:02:33,320 --> 00:02:36,959
Speaker 1: warning against a patchwork of state based responses. He said

44
00:02:37,000 --> 00:02:39,440
Speaker 1: New South Wales would push the Commonwealth and other states

45
00:02:39,440 --> 00:02:43,040
Speaker 1: for a coordinated approach if the situation worsened. It comes

46
00:02:43,080 --> 00:02:46,400
Speaker 1: as News Limited reports the Finance Sector Union has written

47
00:02:46,440 --> 00:02:49,160
Speaker 1: to employers across the country, including the Big four banks,

48
00:02:49,520 --> 00:02:52,720
Speaker 1: urging them to allow staff to determine their own flexible

49
00:02:52,720 --> 00:02:57,080
Speaker 1: working arrangements instead of mandating work from home days. Story

50
00:02:57,160 --> 00:03:00,000
Speaker 1: number four. More than five hundred schools have been disrupted.

51
00:03:00,080 --> 00:03:02,680
Speaker 1: Today is tens of thousands of angry teachers went on

52
00:03:02,720 --> 00:03:06,240
Speaker 1: striking Victoria and Tasmania for the first time in more

53
00:03:06,280 --> 00:03:09,760
Speaker 1: than a decade. Public school teachers, principles and other education

54
00:03:09,919 --> 00:03:13,200
Speaker 1: staff marched from Victorian Trades Hall to Parliament for a

55
00:03:13,320 --> 00:03:17,280
Speaker 1: rally on the front steps. Schools remained open across the state,

56
00:03:17,360 --> 00:03:20,240
Speaker 1: but many parents were told classes wouldn't run and were

57
00:03:20,240 --> 00:03:22,960
Speaker 1: being asked to keep the children home if possible. The

58
00:03:23,080 --> 00:03:26,920
Speaker 1: union representing teachers wants to see a thirty five percent

59
00:03:27,000 --> 00:03:29,880
Speaker 1: pay rise over three years, while the state government last

60
00:03:29,880 --> 00:03:34,119
Speaker 1: week offered eighteen percent. Finally, sorry, number five. Two pilots

61
00:03:34,120 --> 00:03:38,000
Speaker 1: have been killed after an Air Canada Express plane collided

62
00:03:38,040 --> 00:03:41,480
Speaker 1: with a firetruck on the runway at LaGuardia Airport in

63
00:03:41,560 --> 00:03:45,640
Speaker 1: New York. Air traffic control audio captured frantic attempts to

64
00:03:45,720 --> 00:03:49,480
Speaker 1: stop the vehicle the truck, that is, moments before impact,

65
00:03:49,480 --> 00:03:53,680
Speaker 1: with the controller later admitting I messed up. The aircraft,

66
00:03:53,680 --> 00:03:57,800
Speaker 1: which was carrying seventy two passengers and four crew, struck

67
00:03:57,920 --> 00:04:00,960
Speaker 1: the fire truck at high speed, destroyed, showing the cockpit,

68
00:04:01,160 --> 00:04:05,520
Speaker 1: killing both pilots. More than forty people were taken to hospital,

69
00:04:05,600 --> 00:04:09,040
Speaker 1: including a flight attendant who was actually thrown from the plane,

70
00:04:09,560 --> 00:04:12,000
Speaker 1: still strapped to her seat. And that's it for the

71
00:04:12,040 --> 00:04:15,320
Speaker 1: afternoon report for Tuesday, the twenty fourth of March. Make

72
00:04:15,360 --> 00:04:17,480
Speaker 1: sure you're following the podcast, and please head along to

73
00:04:17,560 --> 00:04:19,960
Speaker 1: Fear and Greed dot com dot au to sign up

74
00:04:19,960 --> 00:04:23,640
Speaker 1: for our free daily newsletter. I'm Michael Thompson. Enjoy your evening.