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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 twenty fifth of November twenty twenty four.

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Speaker 1: I'm Suan Elmer. Every afternoon, We've got five stories that

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Speaker 1: happened today that you need to know about. Storingam one,

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Speaker 1: there's some PASX two hundred hit a new all time

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Speaker 1: high today of eighty four hundred and fifty eight point

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Speaker 1: nine points. That was late this morning. By the end

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Speaker 1: of the day he had finished up zero point three

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Speaker 1: percent to eighty four hundred and seventeen points, the best

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Speaker 1: close ever. It came out to Donald Trump nominated Hedge

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Speaker 1: funder founder Scott Bessont as Treasury Secretary in the US,

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Speaker 1: thing that the market liked ze he actually understands the market.

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Speaker 1: The sixty two year old has been publicly supportive of tariffs,

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Speaker 1: but he's also suggested the threats by Donald Trump our

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Speaker 1: negotiating strategy I aimed at extracting concessions. He told the

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Speaker 1: FT that he thought Donald Trump was a free trader.

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Speaker 1: That sort of took some pressure off market. Interest rates

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Speaker 1: also the US dollum. The local market responded well. Interest

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Speaker 1: rates sensitus sectors did best. Real estate investment Trust led

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Speaker 1: the way healthcare, consumer discretionary companies. They all did well

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Speaker 1: on all prices pushed up the big miners. Higher energy

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Speaker 1: prices pushed up the earl and gas stocks, but the

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Speaker 1: bank stocks were lower after the regulator, the Australian Fruinancial

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Speaker 1: Regulation Authority, said it would maintain its mortgage lending buffers,

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Speaker 1: worried about high debt levels, cost of living pressures and

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Speaker 1: a pickup in credit growth. Of course, before they fell,

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Speaker 1: the Commonwealth Bank hit another all time record first thing

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Speaker 1: this morning. Storing um two. Air New Zealand is about

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Speaker 1: to retro fit its wide body planes, adding more premium,

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Speaker 1: economy and business class seats. It follows what Quantas has

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Speaker 1: done and is a hedge against weak domestic and corporate

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Speaker 1: travel markets. Today it said that it's going to decrease

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Speaker 1: the capacity of its Dreamliner, but it expects to add

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Speaker 1: thirty percent more non economy seats. It also helps to

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Speaker 1: boost cargo exports to help the bottom line. Air New Zealand,

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Speaker 1: which is listed in New Zealand And on the AX,

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Speaker 1: looks like it will finally turn a profit in the

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Speaker 1: current six months. It was up two percent today it's

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Speaker 1: down about fifteen percent for the year. Compare that to Quantus.

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Speaker 1: It's up about sixty seven percent this year, trading near

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Speaker 1: record levels. Story number three Southern Cross Osterio held its

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Speaker 1: annual general meeting today and investors delivered a first strike

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Speaker 1: against its executive pay plans. It's a tough market. Southern

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Speaker 1: Cross Osteria is down forty three percent this year. It's

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Speaker 1: the group that owns a Triple M network as well

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Speaker 1: as Hit Radio. It also owns Listener and a network

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Speaker 1: of regional TV stations. It's big shareholders include one of

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Speaker 1: its biggest competitors, ARN Media. That's the group that tried

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Speaker 1: to buy SCA last year. Arn includes Kiss and Pure Gold.

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Speaker 1: SCA at the annual general meeting today said it's in

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Speaker 1: active negotiations to offload its TV stations. Chair John Kelly

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Speaker 1: said going forward for SCA, it's all about audio. Story

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Speaker 1: number four. Thousands of New South Wales homes and businesses

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Speaker 1: are facing the threat of rolling bickouts on Wednesday on

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Speaker 1: the back of an unexpected to outages at coal power

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Speaker 1: units along with very hot weather. Initially, the regulator, the

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Speaker 1: Australian Energy Market Operator, said that one point seven to

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Speaker 1: three gigawatts could be lost by mid afternoon Wednesday, that's

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Speaker 1: enough to power about one and a half million homes.

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Speaker 1: They later cut back to about twenty percent of that level. Still,

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Speaker 1: that's three hundred thousand homes. It's the biggest test for

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Speaker 1: the state since the closure of Agal Energy's Liddell coal

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Speaker 1: power station in April last year. According to the Finn Review,

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Speaker 1: disruptions or outages at Agal Energy's Bayswater generator in the

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Speaker 1: Huna Valley, at Gladstone at Trong North and Queensland at

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Speaker 1: Origin Energy Zerharring plant, at Delta's of Vals Point station

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Speaker 1: in New South Wales and age Eel's Oi Yang power

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Speaker 1: station in Victoria has really hit the power supply and

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Speaker 1: story number five. The Times of Israel has reported that

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Speaker 1: Israel has agreed in principle to a US backed ceasefire

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Speaker 1: with Hesblah in what would be a major breakthrough in

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Speaker 1: the region. The newspaper cited multiple reports of high land

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Speaker 1: consultations involving Prime Minister Benjamin Nett and Yahoo. It comes

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Speaker 1: after Israel was hit by rocket fire from Lebanon and

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Speaker 1: the Israeli Air Force carried out multiple strikes on HESBLA

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Speaker 1: sites in Beirut. The proposed cease fire aims to restore

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Speaker 1: UN Security Council Resolution seventeen oh one, which ended the

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Speaker 1: two thousand and six hes BLA Israel war. It would

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Speaker 1: require HESBLA to pull its fighters back about thirty kilometers

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Speaker 1: from the Israeli border and the Lebanese Army to deploy

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Speaker 1: in the buffer zone. According to the finn Review, as

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Speaker 1: if the Afternoon Report for Monday, the twenty fifth of

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Speaker 1: November twenty twenty four, don't forget follow on the podcast

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Speaker 1: and find Fear and Greed on LinkedIn, Instagram, ex TikTok

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Speaker 1: and Facebook. Joined Michael Thompson and I Tomorrow I'm wranning

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Speaker 1: for the Fast five by Fear and Greed the top

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

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Speaker 1: I'm Shane Elmer. Enjoy Revening