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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 seventh of July twenty twenty five. I'm sure, alma,

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Speaker 1: every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one. The

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Speaker 1: SMPA six two hundred finished down just touch today to

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Speaker 1: eight thousand, five hundred and eighty nine points. Utilities did

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Speaker 1: best in a relatively quiet day, while material stocks were worse.

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Speaker 1: Among the large caps, all the big banks were lower,

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Speaker 1: while West Farmers fell two percent and Woodside and Transurban

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Speaker 1: dropped one percent. CSL was the best performer, up more

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Speaker 1: than two percent. Story number two on global markets, Fuel

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Speaker 1: prices are set to fall after OPEC plus accelerated plans

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Speaker 1: to lift output, triggering fears of an oversupply. Now, it

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Speaker 1: depends on how you look at this as an oil supply.

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Speaker 1: You might not like the idea of an oil glut.

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Speaker 1: As a user, think we people have put petrol into

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Speaker 1: our cars. It's somewhat more attractive because it should put

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Speaker 1: downward pressure on prices. Over the weekend, d P plus

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Speaker 1: spent just ten minutes on a video call before agreeing

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Speaker 1: to up output. It comes as US President Donald Trump

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Speaker 1: calls for lower fuel costs. In the short term, analysts

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Speaker 1: say the market is tight and can absorb the increased production.

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Speaker 1: But when the northern winter kicks in and people aren't

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Speaker 1: driving their cars as much in the US, that's likely

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Speaker 1: to see a drop in demand and that could see

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Speaker 1: a sharp fallen prices. Story Number three Star Entertainment has

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Speaker 1: postponed any final decision on the sale of its stake

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Speaker 1: in Brisbane's new Queen's Warf casino and hotel complex until

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Speaker 1: the end of this month. But if the deal doesn't

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Speaker 1: go ahead then Star will have to pay thirty seven

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Speaker 1: million dollars. Now Choo Tayfouk Enterprises and Far East Consortium

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Speaker 1: each owned twenty five percent of the Brisbane precinct they

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Speaker 1: had planned to buy A Star's steak. Last week, they

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Speaker 1: threatened to walk away from the deal, which was struck

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Speaker 1: when the gaming group was desperate for cash. Today, Star

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Speaker 1: said investors have agreed to postpone a final call on

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Speaker 1: the deal until the end of this month. Now, if

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Speaker 1: a deal isn't reached, the Stars up for effectively a

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Speaker 1: poison pilled thirty six point five million dollars storing. Number

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Speaker 1: four Gold stocks were the big winners in the twenty

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Speaker 1: twenty five financial year, but the precarious nature of their

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Speaker 1: success was demonstrated today when market leader Northern Star said

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Speaker 1: output would be at the lower end of its forecast range,

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Speaker 1: sending its share price sharply lower. In fact, it was

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Speaker 1: the worst performing stock on the ASX two hundred, down

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Speaker 1: nine percent. Northern Style Autho outline plans to burst capital

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Speaker 1: expenditure expenditure to increase output. Meanwhile, Bellevue Gold reported strong

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Speaker 1: production rates and its share price jumped to two percent,

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Speaker 1: and Regius Resources, another gold digger, produced gold at the

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Speaker 1: top end of its guidance range, but its share price

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Speaker 1: finished two percent lower. Finally, story number five in corporate News,

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Speaker 1: Lifestyle Communities ended a trading halt this morning ahead of

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Speaker 1: an announcement in connection with proceedings currently before the Victorian

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Speaker 1: Civil and Administrative Tribunal. By the afternoon, the tribunal had

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Speaker 1: found that the group had been charging residents significant exit

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Speaker 1: fees without properly disclosing them, and they need to be scrapped.

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Speaker 1: Points Bet, which has operations in both Australia and Canada,

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Speaker 1: said that the Alcohol and Gaming Commission of Ontario has

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Speaker 1: approved the bookmaker's takeover by Japanese gaming giant Mixy, and

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Speaker 1: South thirty two rose after announcing it had entered into

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Speaker 1: an agreement to sell its Columbian nickel mine to a

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Speaker 1: global industrial conglomerate called Correx for one hundred and fifty

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Speaker 1: three million dollars. It follows a review into the nickel

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Speaker 1: market by South thirty two. That's it for the afternoon

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Speaker 1: Report for Monday, the seventh of July twenty twenty five.

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Speaker 1: Make sure you follow on the podcast. We will be

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Speaker 1: back tomorrow morning with a Tuesday edition. A Fear and

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Speaker 1: Greed Business Years a Chielma. Enjoy your evening