1 00:00:04,200 --> 00:00:07,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,320 --> 00:00:10,040 Speaker 1: for Thursday, the twenty sixth of June twenty twenty five. 3 00:00:10,200 --> 00:00:13,080 Speaker 1: Are Michael Thompson. Every afternoon, We've got the five stories 4 00:00:13,080 --> 00:00:14,720 Speaker 1: that happen today that you need to know about. So 5 00:00:14,800 --> 00:00:17,720 Speaker 1: let's get cracking with story number one. The S and 6 00:00:17,760 --> 00:00:21,080 Speaker 1: P ASX two hundred finished the day down slightly, just 7 00:00:21,120 --> 00:00:24,000 Speaker 1: off zero point one percent to eighty five hundred and 8 00:00:24,040 --> 00:00:27,920 Speaker 1: fifty one points. Seven of the eleven sub indices lost ground, 9 00:00:28,080 --> 00:00:31,000 Speaker 1: led by tech stocks. The worst performer was Cloud Accounting 10 00:00:31,000 --> 00:00:34,680 Speaker 1: Group Zero. The share price of Zero tumbled seven percent 11 00:00:34,840 --> 00:00:38,120 Speaker 1: on opening in response to its four billion dollar takeover 12 00:00:38,240 --> 00:00:43,200 Speaker 1: of US Silicon Valley startup Melio. By the close, Zero's 13 00:00:43,200 --> 00:00:45,560 Speaker 1: share price hadn't actually improved that much. It was down 14 00:00:45,680 --> 00:00:47,960 Speaker 1: five point three percent for the day. This deal is 15 00:00:48,040 --> 00:00:50,800 Speaker 1: Zero's big push into the US for its business accounting 16 00:00:50,880 --> 00:00:53,519 Speaker 1: software products, so a lot of eyes on it at 17 00:00:53,560 --> 00:00:56,880 Speaker 1: the moment. Pretty quiet day for Commonwealth Bank after yesterday's 18 00:00:56,880 --> 00:00:59,400 Speaker 1: new intra day high, but A and Z was up 19 00:00:59,440 --> 00:01:02,600 Speaker 1: two percent. Little bit of action there. Story number two 20 00:01:02,720 --> 00:01:05,600 Speaker 1: A good day for lithium stocks, which is not something 21 00:01:05,600 --> 00:01:07,800 Speaker 1: that we've been able to say a huge amount. Lately, 22 00:01:08,160 --> 00:01:12,000 Speaker 1: investment giant Vanguard reported buying a stake in PLS, which 23 00:01:12,080 --> 00:01:15,559 Speaker 1: was previously known as Pilber Minerals. That sent pls's share 24 00:01:15,600 --> 00:01:18,440 Speaker 1: price up five point six percent. Had a flow on 25 00:01:18,480 --> 00:01:21,480 Speaker 1: effect to some of the other lithium producers, including Mineral 26 00:01:21,520 --> 00:01:25,520 Speaker 1: Resources and Linetown Resources. Lithium stocks have had a tough 27 00:01:25,560 --> 00:01:28,280 Speaker 1: time of it lately, sold off over concerns that the 28 00:01:28,319 --> 00:01:33,400 Speaker 1: market is oversupplied. Story number three, confession season has started. 29 00:01:33,440 --> 00:01:35,280 Speaker 1: We've talked a little bit about that lately and one 30 00:01:35,319 --> 00:01:38,480 Speaker 1: of the first to downgrade the expected twenty twenty five 31 00:01:38,760 --> 00:01:42,720 Speaker 1: financial year profit is rail Freight Group Horizon. The Queensland 32 00:01:42,720 --> 00:01:45,000 Speaker 1: based transport group said profit for the full year will 33 00:01:45,000 --> 00:01:46,839 Speaker 1: come in at one point five to eight billion dollars. 34 00:01:46,880 --> 00:01:50,000 Speaker 1: That is slightly below last year. That initially sent its 35 00:01:50,000 --> 00:01:52,240 Speaker 1: share price down more than two percent before it ended 36 00:01:52,400 --> 00:01:55,280 Speaker 1: down zero point three percent. So not a huge change 37 00:01:55,280 --> 00:01:56,960 Speaker 1: in the end, but perhaps a sign of things to 38 00:01:57,000 --> 00:02:01,160 Speaker 1: come as companies update their forecasts. Numb before an interesting 39 00:02:01,240 --> 00:02:06,160 Speaker 1: potential takeover in global markets oil giants BP and Shell. 40 00:02:06,400 --> 00:02:09,760 Speaker 1: Now BP's shares jumps as much as ten percent after 41 00:02:09,760 --> 00:02:12,560 Speaker 1: The Wall Street Journal reported that Royal Dutch Shell is 42 00:02:12,600 --> 00:02:16,080 Speaker 1: in early stage talks to acquire its London based rival. 43 00:02:16,560 --> 00:02:20,800 Speaker 1: Discussions between company representatives are active, but a deal is 44 00:02:20,840 --> 00:02:23,920 Speaker 1: far from certain now if this was to happen, if 45 00:02:23,919 --> 00:02:26,880 Speaker 1: Shell was to actually acquire BP, it would be among 46 00:02:26,960 --> 00:02:30,840 Speaker 1: the largest deals in European history, creating for the first 47 00:02:30,840 --> 00:02:34,320 Speaker 1: time an oil major that could actually challenge industry leaders 48 00:02:34,320 --> 00:02:39,359 Speaker 1: Exonmobile and Chevron. So a massive, massive deal, potentially Stilly 49 00:02:39,440 --> 00:02:41,680 Speaker 1: number five plenty. Coming out of the NATO meeting in 50 00:02:41,720 --> 00:02:45,880 Speaker 1: the Netherlands, we had US President Donald Trump announcing upcoming 51 00:02:46,200 --> 00:02:50,440 Speaker 1: US around nuclear talks set for next week. The Secretary 52 00:02:50,520 --> 00:02:53,880 Speaker 1: General of the UN, Antonio Guterres, said that he very 53 00:02:53,960 --> 00:02:57,079 Speaker 1: much hopes the talks will end the conflict, and NATO 54 00:02:57,160 --> 00:02:59,680 Speaker 1: leaders have agreed to boost defense spending to five percent 55 00:02:59,720 --> 00:03:02,919 Speaker 1: of gen by twenty thirty five, and in exchange for that, 56 00:03:02,960 --> 00:03:05,920 Speaker 1: they have secured confirmation from the US President that he 57 00:03:05,960 --> 00:03:09,800 Speaker 1: still supports Article five of the Washington Treaty. That is 58 00:03:09,840 --> 00:03:12,239 Speaker 1: the one that says that an attack on one is 59 00:03:12,280 --> 00:03:15,519 Speaker 1: an attack on all. That's it for the Afternoon Report 60 00:03:15,520 --> 00:03:18,119 Speaker 1: for Thursday, the twenty sixth of June twenty twenty five. 61 00:03:18,320 --> 00:03:20,160 Speaker 1: Make sure you hit follow on the podcast, and we'll 62 00:03:20,160 --> 00:03:22,080 Speaker 1: be back tomorrow morning with the Friday edition of the 63 00:03:22,120 --> 00:03:25,280 Speaker 1: Fast five Business News by Fear and Greed. I'm Michael Thompson. 64 00:03:25,480 --> 00:03:26,239 Speaker 1: Enjoy your evening.