Afternoon Report | ASX closes higher

This is the Fear and Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes. 

1. Wisetech falls further

2. PM at CHOGM

3. Nuclear take 15 years

4. Tesla jumps 12pc

5. 25m Americans already voted

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fearing Greed Business News Afternoon Report for Thursday,
the twenty fourth of October twenty twenty four. I'm Sean A. Elmer.
Every afternoon, You've got the fist. Stories have happened today
that you need to know about storing Number one, wise
Tech Global's share price hit a two months below today,
falling below one hundred dollars a share. At least there
were no news stories about c Richard White yesterday. Wise

(00:25):
Take's down nearly thirty per cent in three weeks, including
five point eight percent today. Actually I said name news stories.
There was actually one story around the place of former
director of Wise tech Global left in twenty nineteen, accused
mister White of intimidation, bullying, and overseeing poor corporate governance.
According to a story in the IFR, it's a story
that just keeps giving. It's a very busy day on
the market. Really. Newmon's share price tumbled more than six

(00:48):
percent after a disappointing quarterly earnings report on Wall Street. Newman,
of course bought new Crest. It's mostly traded in North
America nowadays. HMC Capital halt of its shares as it
prepares to raise three hundred million dollars to put towards
a near two billion dollar acquisition of Sydney Data Center
owner Global Switch. Australian Forest grew Metals Group Film more

(01:08):
than three percent after quarterly production updates show a tonnage
of iron ore shipped was down during the September quarter
compared to the Dune quarter. Brambles provided an underwhelming training update.
Its share price fell two percent. Reese Plumbing share price
fell seven and a half percent after it said the
training environment was challenging. It was worse performer of the

(01:28):
top two hundred. Better news for furniture Group of Dares,
which said sales were stronger in the past sixteen weeks.
That triggered a twelve and a half percent jump in
its share price by the end of the day. This
and PA six two hundred was pretty much where it
started up slightly at eighty two hundred and six points. Sorry.
Number two. Prime Minister Anthony Alberizi is in Samala for
the Commonwealth Heads of Government meeting, and he said acknowledging

(01:50):
climate change is the entry fee for credibility. He said
climate change will be front and center at Toggham, especially
given threats to countries like To and Kiribati. The Prime
Minister will meet for the first time with new British
Prime Minister Keir Starmer. They're likely to talk about climate change,
energy and of course UCUS Foreign Mister Penny Wong's also there.

(02:12):
She said that she had grave concerns over reports at
North Korea is aiding Russia sending troops to help in
the fight against Ukraine. Straight number three. Nuclear power in
Australia will take fifteen years to develop, according to the
head of the Australian Radiation Protection and Nuclear Safety Agency,
Gillian Hirth's estimate doesn't support the coalition's claims a nuclear

(02:34):
power plant can be ready by twenty thirty seven. Miss
Hurt runs the country's nuclear regulator. She appeared at a
parliamentary inquiry today. She did agree that that the Atomic
Energy Agency has previously said new entrants could take just
ten years. Another fly in the ointment, the boss of
the Energy Regulator, Claire Savage, said developing the regulatory framework

(02:56):
for nuclear would take up to eight years. Straight Number
four Tesla's share price jump twelve percent and after ours
training this morning, after the Electric Vehicle Group recorded a
surprise jump in its September quarter, profit led income rows
seventeen percent, helped by more EV sales and a higher
profit margin. Elon Musk he forecast a big jump in
earnings next year. He said EV sales could grow twenty

(03:18):
to thirty percent on the back of lower prices and
LARA interest rates having a meaningful impact on demand. Telster
is the most valuable car maker in the world, about
one trillion Ossie dollars. Mind you, its share price is
half what it was three years ago, and story number five.
Nearly twenty five million Americans have already cast their vote
ahead of the presidential election on Tuesday week. There's record

(03:40):
levels of early voting in some battleground states, such as
Georgia and North Carolina. Polls still have the candidate's neck
and neck. One thing that seems to be causing concern
in the Harris camp is the fact that Joe Biden
seems to be a drag on her election prospects. She
came out in the last twenty four hours and said

(04:02):
that Carmala Harris administration would not be another Joe Biden administration.
Pennsylvania is definitely staketting mass attention from both camps. That's
It's the Afternoon Report for Thursday, the twenty fourth of
October twenty twenty four. Uncle Thomas and I will be
back tomorrow morning with the Friday edition off Year and
Greed business news. I'm sure I elma enjoy read me