Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
Welcome to the Fear and Greed Business News Afternoon Report for Wednesday, the 6th of May, 2026. I'm Sean Aylmer. Every afternoon, we've got the five stories that happened today that you need to know about. The S&P ASX 200 closed up 1.3% today to 8,794 points. Materials and financials led the way after US President Donald Trump
said that an American naval operation to guide ships through the Strait of Hormuz would be paused in a bid to get Iran to agree to a peace deal to end the conflict. Among the large caps, Commonwealth Bank, BHP, Goodman Group, Fortescue Metals, National Australia Bank, ANZ, They all raised 3%, while Westpac was up 3.5%.
Woodside closed down 2.7%, while Telstra, Woolies and Coles all underperformed. Story number two, ASIO boss Mike Burgess says he is extremely concerned about the number of young men who are being radicalised online and mobilising to violence with little warning. Speaking at a press conference to announce a $74 million increase in counter-terrorism funding,
Burgess says the most likely acts of politically motivated violence will occur with little to no warning and in ways that are difficult to detect. Burgess says that extremists ASIO looks at, almost by definition, are security conscious and suspicious of outsiders.
People who self-radicalize online often show few, if any, real world indicators that they are mobilizing to violence and online operations are often the only way ASIO can identify and engage with them.
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Chapter 2: What led to the ASX's rise today?
Welcoming the government's counterterrorism investment, Burgess says gaining access to extremists and their chat groups requires training, resources, time and specialist technology. Story number three, Digico soared more than 20% today after the data centre developer announced it had sold its Chicago site for a billion dollars.
The company is looking to offload its North American locations in favour of expanding its flagship Sydney data centre today. Atlas Arteria's board, that's the Toll Road Group, it told shareholders to reject a $6.9 billion hostile takeover bid from IFM investors, saying the bid materially undervalues the group. And GPT Group reiterated its earnings guidance for the current financial year.
The group's office investment portfolio occupancy sits at about 92% at the moment. Australia No. 4 Home Affairs Minister Tony Burke says four of the so-called ISIS brides and their nine children have made plans to return to Australia. The group travelled to the Middle East to join the Islamic State alongside their husbands.
and have been held in detention camps in northeast Syria since the terror groups collapsed. Burke said the government has not and will not provide any assistance to them. In a statement, I quote, these are people who have made the horrific choice to join a dangerous terrorist organization and to place their children in an unspeakable situation.
As we have said many times, any members of this cohort who have committed crimes can expect to face the full force of the law. And finally, story number five, US Defense Secretary Pete Hexeth said that Iran's renewed attacks hadn't reached the threshold of major combat operations, meaning the attacks in the Strait of Hormuz earlier in the week hadn't broken the ceasefire.
The US is desperate to get oil flowing again, given the political implications ahead of midterm elections later in the year. The price of a gallon of regular petrol climbed 31 US cents in the past week. Now, a gallon's about 3.8 litres thereabouts. It's about US $4.48 a gallon, according to the American Automobile Association.
May not sound a lot in Australian terms, but it's 50% higher than before the war with Iran. Meanwhile, President Donald Trump said he'll pause an effort to help stranded ships exit the Strait of Hormuz. That's it for the afternoon report for Wednesday, the 6th of May, 2026. Make sure you're following the podcast and head along to fearandgreed.com.au to sign up for our free daily newsletter.
I'm Sean Aylmer. Enjoy your evening.
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