Afternoon Report | Peace talks shaky after Trump threats
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Welcome to the Fear and Greed Business News Afternoon Report for Monday, the 22nd 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 jump straight into story number one. The S&P ASX 200 closed slightly lower today, down 0.1% to 8,816 points. Technology stocks led the decline after WiseTech Global plunged more than 18%, its biggest one-day fall in more than a year. following reports that the Australian Federal Police had begun investigating allegations involving Executive Chairman Richard White. Xero also fell 4.5%. Mining stocks were weaker. BHP was down 1.7%. Rio Tinto lost nearly 1% today. The energy stocks, they eased as oil prices fell amid signs of progress in negotiations between the US and Iran.
A Offsetting some of the weakness today were some gains in gold miners and financial stocks. Commonwealth Bank, for instance, and ANZ, they both finished higher. Story number two, the fresh peace talks between the United States and Iran that I just mentioned, they got off to a slightly rocky start after President Donald Trump issued a series of extraordinary threats against Tehran, prompting Iranian negotiators to temporarily walk out of discussions in Switzerland.
What happened in the ASX market today?
As the talks opened in the resort town of Bergenstock, Trump took to social media demanding that Iran immediately rein in Hezbollah attacks in Lebanon, and he warned that if Tehran failed to do so, the U.S. would strike Iran again, only harder. In a separate TV interview, and this is probably the more alarming one, Trump threatened to take control of the Strait of Hormuz and suggested that Iranian negotiators might not even get back home again if the waterway was closed. The remarks infuriated Tehran with Iranian media reporting that the delegation suspended talks in protest over what it described as an insulting intervention by the U.S. president. Despite the setback, though, mediators from Qatar and Pakistan helped bring both sides back to the table.
Discussions continued into the early morning. Story number three, back home again now, and department store chain David Jones has appointed Erica Berktold as its new chief executive, making her the first woman to lead the retailer in its 188-year history. Berktold takes over immediately from Scott Fyfe, who departs following what the company described as a planned leadership transition. As she joined David Jones last year as Chief Commercial Officer after previously serving as Chief Executive of online fashion retailer The Iconic, the leadership change comes as David Jones continues to battle the challenges facing traditional department stores, including the rise of online shopping, and The Iconic has certainly been part of that, also weaker foot traffic in city centers.
The retailer posted a $95 million loss last year. Story number four, in other corporate news around today, grocery retailer Metcash fell as growth in supermarket sales for the first seven weeks of the 2027 financial year disappointed. Industrial conglomerate SGH, controlled by the Stokes family, jumped after it announced a share buyback of up to $500 million. The A2 Milk Company rose slightly after it said it would proceed with a $300 million special dividend following Chinese regulatory approval to transfer two infant formula registrations registrations rather to its own brand and eqt holdings dived more than 11 as the parent company of equity trustees revealed plans to wind up its 95 billion dollar independent superannuation trusteeship services unit
It's a mouthful, following a review of its core businesses. And finally, story number five, something a bit more fun. Egypt has claimed the first World Cup win in the nation's 92-year tournament history, defeating New Zealand 3-1 in Vancouver and taking a major step towards the knockout stages of While Mohamed Salah's goal helped seal the result, the significance extends far beyond one player because Egypt has never previously won a match at football's biggest tournament despite multiple appearances across generations.
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