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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Friday, the tenth of April twenty twenty six. I'm

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Speaker 1: Michael Thompson, and every afternoon we've got the five stories

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Speaker 1: that happened today that you need to know about. Let's

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Speaker 1: get going a story number one. The S and PA

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Speaker 1: Sex two hundred slips zero point one percent today to

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Speaker 1: eight thousand, nine hundred and sixty one points, but still

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Speaker 1: finish the week up four point four percent. That is

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Speaker 1: its strongest weekly performance since October twenty twenty two and

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Speaker 1: a third straight week of gains. Technology stocks led the

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Speaker 1: falls today. At WizTech Global was down two point six percent,

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Speaker 1: Zero was off two point seven percent, and Life three

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Speaker 1: sixty fell just over three percent after flagging job cuts

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Speaker 1: as part of an AI lead restructure. Miners were also weaker. BHP, Rio, Tinto, FOROD,

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Speaker 1: SKEW were all lower, while energy stocks softened as the

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Speaker 1: geopolitical risk eased due to the ceasefire in the Middle East.

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Speaker 1: Falls followed in WHITEHN New hope Santos would side pretty

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Speaker 1: much right across the board there. Real estate outperformed today

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Speaker 1: and the banks were firmer as well, led by a

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Speaker 1: zero point five percent gain in Commonwealth Bank onto story

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Speaker 1: number two now, and President Donald Trump has demanded Iran

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Speaker 1: fully reopened the Strait of Humuz, turning up the pressure

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Speaker 1: on Tehran ahead of weekend peace talks in Pakistan. The

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Speaker 1: ceasefire does remain in place, although of course it is

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Speaker 1: still fragile, with Kuwait reporting large scale drone attacks on

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Speaker 1: key facilities overnight and tanker traffic through the strait still

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Speaker 1: effectively frozen. Despite a Run's announcement that safe passage had resumed,

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Speaker 1: Trump warned that allowing oil through the strait was part

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Speaker 1: of the deal, and said the US would ensure flows

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Speaker 1: resumed with or without the help of Iran. American and

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Speaker 1: Iranian officials are due to meet in Islamabad on Saturday

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Speaker 1: local time, with Pakistan acting as mediator after brokering the

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Speaker 1: two week ceasefire earlier this week. Story number three. Prime

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Speaker 1: Minister Anthony Albanezi has struck a deal with Singapore, a

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Speaker 1: rather loose deal, i must say, aimed at keeping fuel

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Speaker 1: and gas flowing to Australia during the current energy crisis.

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Speaker 1: The agreement commits both countries to make maximum efforts to

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Speaker 1: meet each other's energy security needs. Reflecting Australia's dependence on

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Speaker 1: Singapore for refined fuel and Singapore's dependence on Australia for LNG.

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Speaker 1: It does stop short, however, of a binding guarantee that

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Speaker 1: Australia would be prioritized if Singapore's refinery output continues to fall,

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Speaker 1: but it does strengthen the political commitment between the two governments.

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Speaker 1: The door the deal rather also opens the door to

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Speaker 1: a future legally binding element within the Free Trade Agreement

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Speaker 1: covering essential supplies. The pressure now is really on whether

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Speaker 1: the arrangement delivers any relief at the Bowser oppositionally to

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Speaker 1: Angus Taylor not missing an opportunity there, arguing that cheap

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Speaker 1: wholesale prices in Asia still haven't flowed through to Australian motorists.

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Speaker 1: Story number four. Magellan shareholders have overwhelmingly backed the fund

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Speaker 1: managers one point six billion dollar merger with Baron Joey,

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Speaker 1: clearing the way for one of the year's most closely

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Speaker 1: watched deals. The Financial Review reports more than ninety two

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Speaker 1: percent of shareholders have voted in favor of the deal,

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Speaker 1: despite a few lingering concerns around governance and valuation and

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Speaker 1: the late disclosure of a planned forty five million dollar

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Speaker 1: dividend from Baronjoey. Magellan already owns thirty six percent of

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Speaker 1: Baron Joey. Although the deal is widely seen as a

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Speaker 1: reverse takeover, Magellan chairman Andrew Formica said that the tie

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Speaker 1: up is already attracting new investors who want exposure to

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Speaker 1: Baron Joey's investment banking business, not just Magellan's legacy funds

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Speaker 1: management arm. The merger creates what will effectively be a

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Speaker 1: new heavyweight in financial services, though questions do remain around

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Speaker 1: Magellan's shrinking funds under management and whether the combined business

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Speaker 1: can deliver on the promise. And finally, story number five,

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Speaker 1: the crew of Artemis two say they are living through

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Speaker 1: a golden age of space travel as they prepare to

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Speaker 1: return to Earth after their historic ten day lunar flyby mission.

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Speaker 1: Speaking to members of Congress from the spacecraft ahead of splashdown,

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Speaker 1: showing that there is just no escaping politics anywhere in

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Speaker 1: the galaxy, the astronauts said that they hoped the mission

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Speaker 1: would inspire the next generation and show what's possible when

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Speaker 1: countries work together on big goals. The Orion Capsule is

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Speaker 1: due to re enter Earth's atmosphere at nearly twenty four

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Speaker 1: miles an hour before decelerating very very quickly and splashing

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Speaker 1: down off the coast of San Diego in a tightly

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Speaker 1: choreographed recovery operation involving the US military. After splashdown, the

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Speaker 1: crew will undergo medical checks before being flown to Houston,

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Speaker 1: bringing to a close mission that NASA hopes will mark

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Speaker 1: the start of a sustain human return to deep space.

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Speaker 1: And that's it for the afternoon report for Friday, the

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Speaker 1: tenth of April. Make sure you're following the podcast, and

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Speaker 1: please head along to Fearangreed dot com dot au to

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Speaker 1: sign up for our free daily newsletter. I'm Michael Thompson.

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Speaker 1: Enjoy your evening.