1
00:00:00,080 --> 00:00:03,920
Speaker 1: Shane Soley Harbor Asset Managements with US Shane good evening. Okay, Ryan,

2
00:00:04,120 --> 00:00:07,360
Speaker 1: what is this this meeting between Trump and Zolenski and

3
00:00:07,480 --> 00:00:10,080
Speaker 1: the Pesky jd vance? Butting in what does it mean

4
00:00:10,119 --> 00:00:14,040
Speaker 1: for capital markets? How capital markets dealing with the bombs

5
00:00:14,040 --> 00:00:14,960
Speaker 1: and the surprises.

6
00:00:16,040 --> 00:00:18,639
Speaker 2: It was pretty fiery, wasn't it. Well, Look, actually markets

7
00:00:18,640 --> 00:00:22,000
Speaker 2: in the US were rattled initially. We saw the US

8
00:00:22,079 --> 00:00:24,680
Speaker 2: dollar actually go up. That's what happens when people get

9
00:00:24,680 --> 00:00:28,520
Speaker 2: worried about risks, they go into a rather protected place

10
00:00:28,520 --> 00:00:30,880
Speaker 2: to be. And the shoemaker actually initially went down, but

11
00:00:30,920 --> 00:00:32,760
Speaker 2: then it had a really good rally to the end

12
00:00:32,760 --> 00:00:35,120
Speaker 2: of the period. So actually it being of it all

13
00:00:35,200 --> 00:00:38,519
Speaker 2: US dollar up, US shares up, I guess that this

14
00:00:38,560 --> 00:00:40,960
Speaker 2: has become a little bit wary about White House announcements.

15
00:00:41,440 --> 00:00:43,360
Speaker 2: You know, we also had mister Trump talking about his

16
00:00:43,680 --> 00:00:46,400
Speaker 2: new cryptocurrency reserve that put a little bit of a

17
00:00:46,440 --> 00:00:49,400
Speaker 2: match under the bitcoin price, which has gone up eight

18
00:00:49,520 --> 00:00:52,280
Speaker 2: en percent. Sins you talked about that. So yeah, we're

19
00:00:52,600 --> 00:00:54,360
Speaker 2: nothing in this part of the world today. We haven't

20
00:00:54,400 --> 00:00:56,520
Speaker 2: really reacted to this part of the world. But people

21
00:00:56,560 --> 00:00:58,840
Speaker 2: are going to watch really closer this week about whether

22
00:00:58,880 --> 00:01:02,720
Speaker 2: there's more discussion about Canada Mexico tariffs where they're going

23
00:01:02,720 --> 00:01:06,400
Speaker 2: to be delayed until April, and whether the Chinese tariffs.

24
00:01:06,120 --> 00:01:10,119
Speaker 1: Go up yeah, or even the amount changed right because

25
00:01:10,120 --> 00:01:12,560
Speaker 1: he said twenty five percent, and then there was an

26
00:01:12,560 --> 00:01:14,840
Speaker 1: official from the White House coming out today saying, I

27
00:01:14,959 --> 00:01:18,840
Speaker 1: actually he may change that from twenty five A lot

28
00:01:18,880 --> 00:01:20,720
Speaker 1: to watch, A lot to watch. What was behind the

29
00:01:20,720 --> 00:01:23,400
Speaker 1: Warehouse Group their sheer price down seven percent today? What

30
00:01:23,480 --> 00:01:23,920
Speaker 1: was there?

31
00:01:24,680 --> 00:01:27,559
Speaker 2: We saw a pretty cautious update from the company. These

32
00:01:27,600 --> 00:01:29,800
Speaker 2: tough trading conditions they've continued, and a lot of it

33
00:01:29,800 --> 00:01:33,199
Speaker 2: it's about promotional activity. So basically the company is having

34
00:01:33,240 --> 00:01:36,840
Speaker 2: to cut prices and really stimulate sales to try and

35
00:01:36,840 --> 00:01:40,360
Speaker 2: get their numbers up. Unfortunately, it's not quite working their way.

36
00:01:40,640 --> 00:01:43,760
Speaker 2: Group salers are down for this first half of twenty five,

37
00:01:44,040 --> 00:01:47,440
Speaker 2: not as much as people have been expecting, and they're

38
00:01:47,480 --> 00:01:49,560
Speaker 2: actually talking about sales on it. But it's all about Hey,

39
00:01:49,560 --> 00:01:52,560
Speaker 2: they've had to cut their prices. They're getting their margins

40
00:01:52,560 --> 00:01:57,080
Speaker 2: back to where they were perhaps pre COVID more normal levels. Unfortunately,

41
00:01:57,160 --> 00:02:00,640
Speaker 2: that means the next half is looking pretty soft for

42
00:02:00,920 --> 00:02:03,960
Speaker 2: the Warehouse. In fact, their numbers are going to look

43
00:02:04,160 --> 00:02:07,320
Speaker 2: quite a lot lower than whether the capital market expected.

44
00:02:07,520 --> 00:02:09,880
Speaker 2: As a result, we've seen this the chair price come

45
00:02:09,880 --> 00:02:12,600
Speaker 2: off quite quite soundy today.

46
00:02:12,400 --> 00:02:15,080
Speaker 1: In contrast to that we've had Pacific Edge. The price

47
00:02:15,200 --> 00:02:17,640
Speaker 1: is a strong recovery over the last couple of days

48
00:02:17,680 --> 00:02:19,040
Speaker 1: on some positive news.

49
00:02:19,480 --> 00:02:23,360
Speaker 2: Yeah. Look, the American Neurology Eurology Association actually amended their

50
00:02:23,400 --> 00:02:27,760
Speaker 2: guidelines to say that Pacific Edge is sex bladder triochy test.

51
00:02:27,760 --> 00:02:31,360
Speaker 2: This is for discovering whether you unfortunately have bladder cancer

52
00:02:31,440 --> 00:02:34,119
Speaker 2: or otherwise. They said, look, actually this is great. We're

53
00:02:34,120 --> 00:02:37,400
Speaker 2: going to put it in our standard of care. And

54
00:02:37,800 --> 00:02:41,160
Speaker 2: as a result, this may see Pacific Edge go back

55
00:02:41,200 --> 00:02:45,240
Speaker 2: to the US centers for Medicare Medicaid. It's the major

56
00:02:45,320 --> 00:02:49,720
Speaker 2: insurance provider from the government. Recently they said, look, we're

57
00:02:49,720 --> 00:02:51,920
Speaker 2: not going to provide insurance, We're not going to cover

58
00:02:51,960 --> 00:02:54,480
Speaker 2: the costs of the test anymore, and so the Pacificage

59
00:02:54,480 --> 00:02:57,520
Speaker 2: share price fell. This actually puts them back in the

60
00:02:57,560 --> 00:03:00,200
Speaker 2: game in terms of potentially getting that funding back. So

61
00:03:00,240 --> 00:03:02,560
Speaker 2: the ship rice has gone up one hundred and thirty

62
00:03:02,560 --> 00:03:05,440
Speaker 2: percent in the last few days to fourteen dollars or sorry,

63
00:03:05,440 --> 00:03:08,280
Speaker 2: fifteen cents I should say today. So yeah, big, big

64
00:03:08,320 --> 00:03:11,400
Speaker 2: pop there on that data very quickly.

65
00:03:11,520 --> 00:03:14,240
Speaker 1: The New Zealand sheer market generally was down three percent

66
00:03:14,360 --> 00:03:17,480
Speaker 1: last month. Why. I mean, obviously Spark hasn't helped us

67
00:03:17,480 --> 00:03:20,040
Speaker 1: to the last really while. But what's behind that is

68
00:03:20,040 --> 00:03:23,000
Speaker 1: that just a general first half reporting season and being

69
00:03:23,000 --> 00:03:23,640
Speaker 1: a bit gloomy.

70
00:03:23,720 --> 00:03:26,280
Speaker 2: Yeah, yeah, I think there's a combined thing as you right, Ryan,

71
00:03:26,320 --> 00:03:28,560
Speaker 2: there's a global work to any in this trader, and

72
00:03:28,800 --> 00:03:31,639
Speaker 2: certainly we've just talked about disappointing earnings results that have

73
00:03:31,720 --> 00:03:34,880
Speaker 2: fed through the Ernie's downgrades for this current financial year.

74
00:03:35,120 --> 00:03:38,320
Speaker 2: And also we had quite a large capital raising both

75
00:03:38,440 --> 00:03:41,080
Speaker 2: Ryme and this billion dollar rays. We needed to sell

76
00:03:41,160 --> 00:03:44,000
Speaker 2: things to fund that. But it wasn't all gloomy. There

77
00:03:44,040 --> 00:03:47,040
Speaker 2: were green shoots coming through in a few results. Lower

78
00:03:47,080 --> 00:03:50,440
Speaker 2: government bond you was helpful for evaluations, and we might

79
00:03:50,480 --> 00:03:53,200
Speaker 2: look back and say some of these liquidity events around

80
00:03:53,280 --> 00:03:56,360
Speaker 2: Ryman and even the Misco Global Next changes for contact

81
00:03:56,800 --> 00:03:59,800
Speaker 2: creating some great opportunities for long term investors. But yeah,

82
00:03:59,800 --> 00:04:02,800
Speaker 2: we've hopefully seen the base, Ryan. Is probably the best

83
00:04:02,840 --> 00:04:05,840
Speaker 2: thing we'd say is we've seen these green shoots more regularly.

84
00:04:06,160 --> 00:04:08,720
Speaker 1: Shane, Thanks for your time. Shane. Sally Harbor Asset Management.

85
00:04:09,280 --> 00:04:12,440
Speaker 2: For more from Hither Duplessy Allen Drive, listen live to

86
00:04:12,560 --> 00:04:15,560
Speaker 2: news talks it'd be from four pm weekdays, or follow

87
00:04:15,600 --> 00:04:17,400
Speaker 2: the podcast on iHeartRadio