1 00:00:03,600 --> 00:00:06,120 Speaker 1: Welcome to the Fear and Greed Business Years. Afternoon Report 2 00:00:06,160 --> 00:00:08,840 Speaker 1: for Thursday, the twelfth of June twenty twenty five. I'm 3 00:00:08,880 --> 00:00:11,520 Speaker 1: Sean A. Elmer. Every afternoon we've got the fire stories 4 00:00:11,520 --> 00:00:13,360 Speaker 1: that happened today that you need to know about. 5 00:00:13,360 --> 00:00:14,040 Speaker 2: Story number one. 6 00:00:14,280 --> 00:00:17,959 Speaker 1: The SMPASX two hundred finished down zero point three percent 7 00:00:18,000 --> 00:00:21,520 Speaker 1: today to eight thousand, five hundred and sixty five points. Generally, 8 00:00:21,560 --> 00:00:24,520 Speaker 1: the mining stocks did best, while some of the battery 9 00:00:24,560 --> 00:00:27,600 Speaker 1: medals companies did worst. Northern Star was a bit of 10 00:00:27,600 --> 00:00:30,560 Speaker 1: a standout, up two percent. All the big banks well 11 00:00:30,600 --> 00:00:33,280 Speaker 1: are as were the big three miners FOURT SCW Medals 12 00:00:33,360 --> 00:00:36,680 Speaker 1: was down three percent. The more stable stocks did best, 13 00:00:37,000 --> 00:00:41,560 Speaker 1: think CSL, West Farmers, Telstra Transurban, those sorts of companies 14 00:00:41,800 --> 00:00:45,080 Speaker 1: Story number two. Staying in financial markets, US President Donald 15 00:00:45,080 --> 00:00:47,840 Speaker 1: Trump is putting pressure on the Federal Reserve to cut 16 00:00:47,920 --> 00:00:52,320 Speaker 1: interest rates after benign inflation figures were released overnight in 17 00:00:52,360 --> 00:00:57,080 Speaker 1: the US. The May CPI shows modest price increases, with 18 00:00:57,160 --> 00:00:59,640 Speaker 1: inflation up two point four percent for the year. The 19 00:00:59,680 --> 00:01:02,480 Speaker 1: under ying rate is two point eight percent. Sounds very 20 00:01:02,520 --> 00:01:05,240 Speaker 1: much like Australia, doesn't it. The Fed's meeting next week 21 00:01:05,280 --> 00:01:08,720 Speaker 1: and Donald Trump called the inflation figures great, adding that 22 00:01:08,760 --> 00:01:11,240 Speaker 1: the FED should cut rates by one percentage point. That 23 00:01:11,360 --> 00:01:14,000 Speaker 1: ain't going to happen. The challenge for the Fed is 24 00:01:14,040 --> 00:01:17,640 Speaker 1: whether the Trump tariffs will add to inflation. Story Number three. 25 00:01:17,720 --> 00:01:20,800 Speaker 1: Voters in Tasmania are heading to their second election in 26 00:01:20,840 --> 00:01:24,039 Speaker 1: fifteen months after Parliament last week passed a vote of 27 00:01:24,080 --> 00:01:27,640 Speaker 1: no confidence in Premier Jeremy Rockcliffe, and then last night 28 00:01:27,720 --> 00:01:31,680 Speaker 1: Tasmanian Governor Barbara Baker agreed to dissolve the House of Assembly. 29 00:01:31,959 --> 00:01:34,600 Speaker 1: Tazzy watchers say will be difficult for either the Liberal 30 00:01:34,680 --> 00:01:37,680 Speaker 1: or Labor government to form a majority government. The Liberal 31 00:01:37,720 --> 00:01:39,720 Speaker 1: has been in power since twenty fourteen, but have been 32 00:01:40,080 --> 00:01:43,800 Speaker 1: leading a minority government over the last thirteen or fourteen 33 00:01:43,840 --> 00:01:47,920 Speaker 1: months or so. There are fourteen Liberal MPs, ten Labor MPs, 34 00:01:48,000 --> 00:01:51,840 Speaker 1: five Greens and six independents. An IFL team seems to 35 00:01:51,840 --> 00:01:55,200 Speaker 1: be the big political talking point. Both major parties support 36 00:01:55,240 --> 00:01:58,360 Speaker 1: a second stadium in Hobar, which they condition of the 37 00:01:58,360 --> 00:02:01,960 Speaker 1: AFL for the Tasmaisenian Devils to enter the League in 38 00:02:01,960 --> 00:02:04,880 Speaker 1: twenty twenty eight, but the Greens and several independents are 39 00:02:04,880 --> 00:02:05,920 Speaker 1: opposed to it. 40 00:02:05,960 --> 00:02:09,520 Speaker 2: Storry number four in Corporate News monash ivf row sharply 41 00:02:09,680 --> 00:02:12,920 Speaker 2: for the second success of day, and today it announced 42 00:02:12,960 --> 00:02:16,480 Speaker 2: that chief executive Michael Knapp had resigned following the company 43 00:02:16,520 --> 00:02:19,880 Speaker 2: reporting its second embryo incident in as many months. The 44 00:02:19,960 --> 00:02:22,480 Speaker 2: two days of rising follows in your thirty percent tumble. 45 00:02:22,560 --> 00:02:26,640 Speaker 2: On Tuesday, Cockley's share price was flat after the Hearing 46 00:02:26,680 --> 00:02:29,920 Speaker 2: Implant Companies slightly downgraded its earnings guidance following slower than 47 00:02:29,960 --> 00:02:34,200 Speaker 2: expected sales growth this year. Adeal Energy shares dropped after 48 00:02:34,240 --> 00:02:39,160 Speaker 2: it set its conducting preliminary investigations about offloading its stake 49 00:02:39,280 --> 00:02:44,480 Speaker 2: in Tilt Renewables and and Ax Limited. The company fell 50 00:02:44,520 --> 00:02:46,679 Speaker 2: sharply to an almost two month low after warned of 51 00:02:46,680 --> 00:02:49,639 Speaker 2: an increase inexpense growth next financial year. Finally, story a 52 00:02:49,680 --> 00:02:52,799 Speaker 2: number five US troops deployed in Los Angeles have been 53 00:02:52,840 --> 00:02:56,520 Speaker 2: authorized to detain people until police can arrest them, as 54 00:02:56,600 --> 00:02:59,320 Speaker 2: hundreds of Marines prepared to move into the city. That's 55 00:02:59,360 --> 00:03:02,240 Speaker 2: a significant step up from being ordered to protect US 56 00:03:02,320 --> 00:03:05,720 Speaker 2: person and property. The seven hundred Marines and four thousand 57 00:03:05,760 --> 00:03:10,119 Speaker 2: National Guard troops can detain people until law enforcement arrests them. 58 00:03:10,480 --> 00:03:13,160 Speaker 2: The protests over Donald Trump's immigration rates have spread from 59 00:03:13,160 --> 00:03:17,280 Speaker 2: California to other US cities, with hundreds of demonstrations planned 60 00:03:17,280 --> 00:03:19,960 Speaker 2: for this coming weekend. That's it for the afternoon Report 61 00:03:20,000 --> 00:03:22,200 Speaker 2: for Thursday, the twelfth of June twenty twenty five. Make 62 00:03:22,200 --> 00:03:23,560 Speaker 2: sure you hit follow on the podcast. 63 00:03:23,800 --> 00:03:26,160 Speaker 1: We will be back to our morning with the Friday edition, 64 00:03:26,200 --> 00:03:28,200 Speaker 1: a few and greed business news. I'm Seane Elmer. 65 00:03:28,560 --> 00:03:29,320 Speaker 2: Enjoy your evening.