Welcome to the Fear and Greed Business News. The Afternoon Report for Wednesday, the twenty seventh of November twenty twenty four. I'm Sean Almer. Every afternoon, We've got a five stories that happened today that you need to know about Storing them. One. Underlying inflation during the September quarter came in at three point five percent, up from three point two percent, even as the headline rate remained at a lower than expected two point one percent. The difference between the underlying rate three and a half percent and the headline rate two point one percent primarily reflects the energy rebates being paid by state and federal governments. Now all this is in great use for those hoping for interest raight cut, but it didn't stop the local share market rising today. It closed up zero point six percent to eighty four hundred and seven points. Consumer discretionary stocks led the way, although all seven sub indices were higher. Commonwealth Bank lost ground yesterday, but today was up more than one and a half percent. Fortesqu Metals Group, Goodman, Tellsta, and risk Crat Leisure all ended one percent high. Php Rio, Tinto, Woodside and mcquarie were lower, but it AGM season, bunch of them still being held. City Sheik Collective fell more than twenty five percent after the retailer provided a training update at its AGM RW holdings, the resources and infrastructure contractor it had an AGM it recorded a first strike against its executive payments, and HMC capital rallied two percent after the fund manager upgraded its earnings outlook. Story number two. The value of housing construction hit a three year high in the September quarter, and some good news for the struggling sector. The value of residential housing jump nearly two percent to twenty three point four billion dollars. We haven't seen that since twenty twenty one, and that was when the government pandemic payments were supporting this sectum. There's also a jump in construction engineering. It just shows the boom in federal and state infrastructure spending. Really on an annual basis, building activity has been concentrated in the non residential sector things like infrastructure, while dwelling construction homes has been flat, even though more houses are needed. It's suggest the economic growth rate for the September quarter will come in the low ones. Those still a fair bit to feed into that number. September quarter GDP issue out next week. Story number three. Rare earths company Liners Today warned of ongoing volatility and commodity markets at its annual general meeting, though its share price closed up over one percent. The West Australian minor is our biggest rare earth producer. In fact, it's the biggest rare earth producer outside China. At the AGM, it said market volatility was contingent on what happens in China. There's been price drops in rare earths used in products like air conditioning units and aircraft engines. Also, the slow down in electric vehicle sales have hit prices. Story number four. Web Travel, which less than two months ago was part of Webjet, released its half year profit Today made a fifty two and a half million dollar profit for the six months to the end of September the new cent its share price up thirteen percent, the best on the day for the top two hundred stocks. Two months ago, where it Travel demerged from Webjet, it now trades brands like Webbeds. It's B to B business, whereas Webjet, what's left over is the B to C business. The web beds business is going well. Bookings were up twenty two percent last half to four point three million. There's growth across regions. The company upgraded its full year result as well. It also announced a one hundred and fifty million share buyback that was enough to send its share price much higher. And story number five New South Wales looks like it will escape blackouts today after Sydney recorded one of its hottest November days in the last decade or so. In the middle of the day, Premier Chris Min's came out and called them people to turn off pool pumps, dishwashers and air conditioners. He wanted as little use as possible between three pm and eight pm as temps hit the mid to high thirties. We're in the middle of that three pm to eight pm time and so far, so good. A surgeon consumption alongside outages at four units along their coast, means of Phlily at the moment is very tight. The Australian Energy Market Operator said there are insufficient reserves in terms of generation across the day. It used its emergency powers to talk to industry to reduce demand. Well hopefully it'll they will reduce demand. That's it for the afternoon. Report for Wednesday, the twenty seventh of November twenty twenty four. Michael Thompson and I will be back to orow morning with the Thursday edition of Fear and Greed Business News. I'm Seane Elmer. Enjoy your evening.

Welcome to the Fear and Greed Business News. The Afternoon Report for Wednesday, the twenty seventh of November twenty twenty four. I'm Sean Almer. Every afternoon, We've got a five stories that happened today that you need to know about Storing them. One. Underlying inflation during the September quarter came in at three point five percent, up from three point two percent, even as the headline rate remained at a lower than expected two point one percent. The difference between the underlying rate three and a half percent and the headline rate two point one percent primarily reflects the energy rebates being paid by state and federal governments. Now all this is in great use for those hoping for interest raight cut, but it didn't stop the local share market rising today. It closed up zero point six percent to eighty four hundred and seven points. Consumer discretionary stocks led the way, although all seven sub indices were higher. Commonwealth Bank lost ground yesterday, but today was up more than one and a half percent. Fortesqu Metals Group, Goodman, Tellsta, and risk Crat Leisure all ended one percent high. Php Rio, Tinto, Woodside and mcquarie were lower, but it AGM season, bunch of them still being held. City Sheik Collective fell more than twenty five percent after the retailer provided a training update at its AGM RW holdings, the resources and infrastructure contractor it had an AGM it recorded a first strike against its executive payments, and HMC capital rallied two percent after the fund manager upgraded its earnings outlook. Story number two. The value of housing construction hit a three year high in the September quarter, and some good news for the struggling sector. The value of residential housing jump nearly two percent to twenty three point four billion dollars. We haven't seen that since twenty twenty one, and that was when the government pandemic payments were supporting this sectum. There's also a jump in construction engineering. It just shows the boom in federal and state infrastructure spending. Really on an annual basis, building activity has been concentrated in the non residential sector things like infrastructure, while dwelling construction homes has been flat, even though more houses are needed. It's suggest the economic growth rate for the September quarter will come in the low ones. Those still a fair bit to feed into that number. September quarter GDP issue out next week. Story number three. Rare earths company Liners Today warned of ongoing volatility and commodity markets at its annual general meeting, though its share price closed up over one percent. The West Australian minor is our biggest rare earth producer. In fact, it's the biggest rare earth producer outside China. At the AGM, it said market volatility was contingent on what happens in China. There's been price drops in rare earths used in products like air conditioning units and aircraft engines. Also, the slow down in electric vehicle sales have hit prices. Story number four. Web Travel, which less than two months ago was part of Webjet, released its half year profit Today made a fifty two and a half million dollar profit for the six months to the end of September the new cent its share price up thirteen percent, the best on the day for the top two hundred stocks. Two months ago, where it Travel demerged from Webjet, it now trades brands like Webbeds. It's B to B business, whereas Webjet, what's left over is the B to C business. The web beds business is going well. Bookings were up twenty two percent last half to four point three million. There's growth across regions. The company upgraded its full year result as well. It also announced a one hundred and fifty million share buyback that was enough to send its share price much higher. And story number five New South Wales looks like it will escape blackouts today after Sydney recorded one of its hottest November days in the last decade or so. In the middle of the day, Premier Chris Min's came out and called them people to turn off pool pumps, dishwashers and air conditioners. He wanted as little use as possible between three pm and eight pm as temps hit the mid to high thirties. We're in the middle of that three pm to eight pm time and so far, so good. A surgeon consumption alongside outages at four units along their coast, means of Phlily at the moment is very tight. The Australian Energy Market Operator said there are insufficient reserves in terms of generation across the day. It used its emergency powers to talk to industry to reduce demand. Well hopefully it'll they will reduce demand. That's it for the afternoon. Report for Wednesday, the twenty seventh of November twenty twenty four. Michael Thompson and I will be back to orow morning with the Thursday edition of Fear and Greed Business News. I'm Seane Elmer. Enjoy your evening.