1 00:00:03,800 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,519 --> 00:00:08,960 Speaker 1: for Monday, the ninth of September twenty twenty four. I'm 3 00:00:08,960 --> 00:00:11,520 Speaker 1: sure in Alma every afternoon. We've got the five stories 4 00:00:11,560 --> 00:00:13,760 Speaker 1: that happened today that you need to know about, Story Num. One. 5 00:00:13,760 --> 00:00:16,640 Speaker 1: The SMPA six two hundred closed down zero point three 6 00:00:16,680 --> 00:00:19,360 Speaker 1: percent today to seven nine hundred and eighty eight points. 7 00:00:19,600 --> 00:00:23,479 Speaker 1: Consumer discretionary stocks did worst, while property companies did best. 8 00:00:23,760 --> 00:00:26,720 Speaker 1: Most of the banks were lower, with Westpac off one percent. Ria, 9 00:00:26,800 --> 00:00:29,480 Speaker 1: Woodside and West Farmers were also down at least one percent. 10 00:00:29,760 --> 00:00:31,760 Speaker 1: Best in the day among the large caps at least 11 00:00:31,840 --> 00:00:35,120 Speaker 1: was Weis Tech Global, up two point three percent. A 12 00:00:35,120 --> 00:00:38,480 Speaker 1: bunch of stocks including CSL, Hub twenty four, Super Retail Group, 13 00:00:38,479 --> 00:00:42,280 Speaker 1: and Beaver Energy all traded ex dividend in m and 14 00:00:42,320 --> 00:00:45,640 Speaker 1: A news Charter Hall retail rout has teamed up with 15 00:00:45,760 --> 00:00:50,560 Speaker 1: superfund host Plus to bid for ASX listed Hotel Property Investments. 16 00:00:51,000 --> 00:00:54,920 Speaker 1: Charter Hall bought almost fifteen percent of HBI back in March, 17 00:00:55,040 --> 00:00:57,520 Speaker 1: and today's bid is a premium of around five percent 18 00:00:57,880 --> 00:01:01,560 Speaker 1: too Friday's closing price. There have been some changes to 19 00:01:01,600 --> 00:01:04,120 Speaker 1: the ASEX two hundred anounced as well, now they occur 20 00:01:04,200 --> 00:01:08,080 Speaker 1: every three months rebalancing. Recently listed with many gomes will 21 00:01:08,120 --> 00:01:11,440 Speaker 1: be included in the benchmark smp ASX two hundred index 22 00:01:11,520 --> 00:01:14,959 Speaker 1: from September twenty three. Also joining the top two hundred 23 00:01:15,040 --> 00:01:18,560 Speaker 1: will be WA Minor, West Gold and Coal miner yan 24 00:01:18,680 --> 00:01:22,880 Speaker 1: cole Domain Nanosonics and Strike Energy will be removed from 25 00:01:22,920 --> 00:01:25,759 Speaker 1: the index straight number two. The Federal Opposition has called 26 00:01:25,800 --> 00:01:29,240 Speaker 1: for the government to be given powers to force divestitures 27 00:01:29,640 --> 00:01:33,600 Speaker 1: in the aviation industry, essentially meaning that Canberra could force 28 00:01:33,760 --> 00:01:36,959 Speaker 1: Quantas to sell Jetstar. The option is being pushed by 29 00:01:37,000 --> 00:01:41,319 Speaker 1: the coalition's Transport spokeswoman Bridget McKenzie on the basis that 30 00:01:41,400 --> 00:01:44,960 Speaker 1: the threat of divestiture could be enough to keep airfares 31 00:01:45,120 --> 00:01:48,640 Speaker 1: lower than they otherwise would be Jesus saying the Coalition 32 00:01:48,720 --> 00:01:52,200 Speaker 1: wants to force the national carrier to sell Jetstar. Take 33 00:01:52,280 --> 00:01:54,720 Speaker 1: not of that the Federal Opposition has taken on quite 34 00:01:54,720 --> 00:01:58,160 Speaker 1: a few big businesses recently, particularly the retailers. This pushes 35 00:01:58,200 --> 00:02:01,840 Speaker 1: the strategy into aviation. Senator Kenzie said Australians want an 36 00:02:01,920 --> 00:02:05,520 Speaker 1: airline sector where there is genuine choice, where planes take 37 00:02:05,560 --> 00:02:08,440 Speaker 1: off and land on time, and where luggage arrives at 38 00:02:08,440 --> 00:02:12,800 Speaker 1: a destination along with the passengers. It's a popularist argument 39 00:02:13,200 --> 00:02:15,520 Speaker 1: just in time for the next federal election and got 40 00:02:15,560 --> 00:02:19,960 Speaker 1: plenty of media plated today. Doesn't necessarily have unanimous support, 41 00:02:20,040 --> 00:02:23,280 Speaker 1: though within the coalition, National leader David lirld Proud was 42 00:02:23,360 --> 00:02:26,040 Speaker 1: quite cool on the idea. He simply said the idea 43 00:02:26,240 --> 00:02:29,600 Speaker 1: needs further study. Story number three. Domino's Pizza has been 44 00:02:29,680 --> 00:02:33,080 Speaker 1: hit with a class action alleging misleading or deceptive conduct 45 00:02:33,360 --> 00:02:36,679 Speaker 1: and breaches of its disclosure obligations regarding the performance of 46 00:02:36,720 --> 00:02:39,919 Speaker 1: its Japanese stores. In January this year, Domino's share price 47 00:02:40,040 --> 00:02:43,680 Speaker 1: fell thirty percent after it released an awful training update 48 00:02:43,720 --> 00:02:46,160 Speaker 1: based on the outlook for Asia and Europe busy, fourth 49 00:02:46,240 --> 00:02:48,280 Speaker 1: profit down grade in three years, and it looks like 50 00:02:48,320 --> 00:02:51,600 Speaker 1: shareholders are fed up with it all. Including today's two 51 00:02:51,639 --> 00:02:54,760 Speaker 1: percent drop, Domino's share prices off fifty percent this year alone, 52 00:02:54,760 --> 00:02:57,799 Speaker 1: and proceedings have been filed by ECO Law on behalf 53 00:02:57,800 --> 00:03:00,560 Speaker 1: of shareholders who bought into Dominoes in this second half 54 00:03:00,560 --> 00:03:03,160 Speaker 1: of twenty twenty one. At its peak in that period, 55 00:03:03,560 --> 00:03:05,600 Speaker 1: a Dona's share was worth more than one hundred and 56 00:03:05,639 --> 00:03:09,640 Speaker 1: sixty dollars. Today it's less than thirty dollars Australia before 57 00:03:09,800 --> 00:03:12,160 Speaker 1: China's core inflation fell to its lowest level in more 58 00:03:12,200 --> 00:03:14,880 Speaker 1: than three years, triggering calls for greater stimulus to boost 59 00:03:14,960 --> 00:03:18,960 Speaker 1: household spending to help achieve Beijing's five percent and your 60 00:03:19,000 --> 00:03:22,480 Speaker 1: growth target. The CPI excluding volatile food and energy costs 61 00:03:22,560 --> 00:03:25,239 Speaker 1: rows just zero point three percent in August from a 62 00:03:25,320 --> 00:03:28,639 Speaker 1: year earlier, the least since March twenty twenty one. The 63 00:03:28,800 --> 00:03:31,720 Speaker 1: broader inflation reading increased zero point six percent, but that 64 00:03:31,800 --> 00:03:35,000 Speaker 1: missed expectations. Even that was boosted by higher food cost 65 00:03:35,080 --> 00:03:38,480 Speaker 1: due to bad weather last month. And story number five 66 00:03:38,640 --> 00:03:42,120 Speaker 1: the Surgeon. Support for Carmala Harris has faded somewhat, a 67 00:03:42,200 --> 00:03:45,320 Speaker 1: new poll suggests, leaving Donald Trump ahead in the run 68 00:03:45,400 --> 00:03:48,000 Speaker 1: up to what may be the only televised debate between 69 00:03:48,040 --> 00:03:51,839 Speaker 1: the candidates, scheduled for Wednesday Australian Time. For the first 70 00:03:51,840 --> 00:03:54,920 Speaker 1: time in a month, Trump is narrowly ahead, with forty 71 00:03:54,960 --> 00:03:58,240 Speaker 1: eight to forty seven percent support nationwide among those likely 72 00:03:58,280 --> 00:04:01,160 Speaker 1: to vote, according to a New York Time Siena College poem. 73 00:04:01,520 --> 00:04:03,800 Speaker 1: It also shows that nearly a third of Americans felt 74 00:04:03,800 --> 00:04:06,320 Speaker 1: that they needed to learn more about Harris and where 75 00:04:06,360 --> 00:04:08,840 Speaker 1: she stands on the issues that mattered to voters. Only 76 00:04:08,960 --> 00:04:11,880 Speaker 1: nine percent felt that way about Trump, according to report 77 00:04:11,920 --> 00:04:15,040 Speaker 1: in The Times. A survey by CBS News of voters 78 00:04:15,040 --> 00:04:17,640 Speaker 1: in three swing states shared Harris ahead by a single 79 00:04:17,680 --> 00:04:20,440 Speaker 1: point in Michigan and Wisconsin, and tied with Trump in 80 00:04:20,480 --> 00:04:23,640 Speaker 1: the battleground state of Pennsylvania. A yugo of poll last 81 00:04:23,640 --> 00:04:26,440 Speaker 1: week commissioned by The Times put Harris ahead in four 82 00:04:26,480 --> 00:04:29,000 Speaker 1: swing states and Trump in three. That's it for the 83 00:04:29,080 --> 00:04:32,159 Speaker 1: afternoon Report for Monday, the ninth of September twenty twenty four. 84 00:04:32,200 --> 00:04:34,440 Speaker 1: Michael Thompson and I will be back tomorrow morning at 85 00:04:34,440 --> 00:04:36,880 Speaker 1: the Tuesday edition Off Fear and Greed Business News. I'm 86 00:04:36,920 --> 00:04:38,680 Speaker 1: Seane Elmer. Enjoy your evening.