Michael Thompson

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Thanks, Sean.

Thanks, Michael.

It's Thursday, the 11th of June, 2026.

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I'm Michael Thompson, and that was Fear and Greed.

Have a great day.

Welcome to the Fear and Greed Business News Afternoon Report for Wednesday the 10th of June 2026.

I'm Michael Thompson and every afternoon we've got the five stories that happened today that you need to know about.

Let's get going with story number one.

The local share market closed higher today as investors really shrugged off renewed tensions in the Middle East and

kept on buying defensive consumer stocks.

The S&P ASX 200 closed up 0.6% to 8,653 points, eight of the 11 sectors finishing higher.

Oil prices rose after the US launched fresh strikes on Iran following confirmation from US President Donald Trump that a US Apache helicopter that crashed yesterday near the Strait of Hormuz was shot down by Iran.

But

Locally, supermarkets led the gains.

Coals up 5%, woolies up 3%, Wesfarmers climbed around 4% after outlining plans to use artificial intelligence and data to drive growth.

A drop in the price of gold hit the local miners really hard, while Sigma Healthcare fell more than 5% after confirming discussions around a potential acquisition of UK retailer Boots.

More on that story in tomorrow morning's show.