1 00:00:04,160 --> 00:00:06,720 Sean Aylmer: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,760 --> 00:00:09,280 Sean Aylmer: for Wednesday, the twenty third of April twenty twenty five. 3 00:00:09,320 --> 00:00:12,240 Sean Aylmer: I'm Sean Aylmer. Every afternoon, We've got the five stories 4 00:00:12,280 --> 00:00:14,960 Sean Aylmer: that happened today that you need to know about. Story 5 00:00:15,000 --> 00:00:17,200 Sean Aylmer: number one. The S and PASX two hundred finished up 6 00:00:17,239 --> 00:00:20,000 Sean Aylmer: one point three percent today to seven nine hundred and 7 00:00:20,000 --> 00:00:22,919 Sean Aylmer: twenty one points. The market benefitted from comments out of 8 00:00:22,960 --> 00:00:26,360 Sean Aylmer: the US, whereby US President Donald Trump said he won't 9 00:00:26,520 --> 00:00:30,040 Sean Aylmer: sack Federal Reserve Chair J Powell. He also sounded more 10 00:00:30,040 --> 00:00:34,360 Sean Aylmer: conciliatory to China around Tariff's Wall. Street jumped in response, 11 00:00:34,400 --> 00:00:36,479 Sean Aylmer: and the local market followed the lead. The energy and 12 00:00:36,520 --> 00:00:39,480 Sean Aylmer: techtoks did best, while the gold miners were sold off. 13 00:00:39,520 --> 00:00:43,960 Sean Aylmer: The big miners BHP four to squ Metals, Real Tinto, 14 00:00:44,360 --> 00:00:47,440 Sean Aylmer: and US facing stocks all surged, while the Commonwealth Bank 15 00:00:47,600 --> 00:00:49,879 Sean Aylmer: was he laggard of the large caps, losing more than 16 00:00:49,920 --> 00:00:53,479 Sean Aylmer: two percent. Mind you, it jumped four percent yesterday. Otherwise, 17 00:00:53,520 --> 00:00:56,480 Sean Aylmer: the major banks did well. Story number two. The International 18 00:00:56,480 --> 00:01:00,959 Sean Aylmer: Montree Fund has released its latest forecast for the global economy. 19 00:01:01,280 --> 00:01:04,280 Sean Aylmer: It says the pace of growth across the globe will 20 00:01:04,319 --> 00:01:06,399 Sean Aylmer: drop to two point eight percent this year from its 21 00:01:06,440 --> 00:01:10,000 Sean Aylmer: previous forecast of three point three percent. The downgrade in 22 00:01:10,000 --> 00:01:13,520 Sean Aylmer: the US was from two point seven percent to one 23 00:01:13,520 --> 00:01:17,319 Sean Aylmer: point eight percent, a much larger fall than what the 24 00:01:17,360 --> 00:01:20,319 Sean Aylmer: IMF thinks will happen in China. In other words, the 25 00:01:20,319 --> 00:01:24,000 Sean Aylmer: biggest loser from tariffs, according to the IMF, is the US. 26 00:01:24,440 --> 00:01:28,039 Sean Aylmer: Story number three, Santos's flagship five point eight billion dollar 27 00:01:28,080 --> 00:01:30,920 Sean Aylmer: Barossa gas project in the t or C has been 28 00:01:30,959 --> 00:01:34,840 Sean Aylmer: granted its last major regulatory approval, clearing the way for 29 00:01:34,880 --> 00:01:37,880 Sean Aylmer: the offshore field to finally begin full production within months. 30 00:01:38,080 --> 00:01:41,119 Sean Aylmer: The Barossa project has been a target for environmental groups 31 00:01:41,160 --> 00:01:44,200 Sean Aylmer: because of its high carbon footprint. According to the Finn Review, 32 00:01:44,600 --> 00:01:48,840 Sean Aylmer: the Environmental Defender's Office launched a controversial and ultimately unsuccessful 33 00:01:48,880 --> 00:01:52,640 Sean Aylmer: court action to have regulatory approvals for the development ruled void. Now, 34 00:01:52,680 --> 00:01:55,480 Sean Aylmer: the offshore oil and gas regulator, something called the National 35 00:01:55,520 --> 00:01:59,600 Sean Aylmer: Offshore Petroleum Safety and Environmental Management Authority, has now approved 36 00:01:59,600 --> 00:02:03,320 Sean Aylmer: a key permit allowing Santos to attach its processing vessel 37 00:02:03,360 --> 00:02:06,960 Sean Aylmer: and pipeline to the gas field. The final significant milestone 38 00:02:07,120 --> 00:02:10,840 Sean Aylmer: for the project. The six subsea wells located in a 39 00:02:10,880 --> 00:02:13,520 Sean Aylmer: field two hundred and eighty five kilometers northwest of Darwin 40 00:02:13,840 --> 00:02:16,960 Sean Aylmer: are expected to produce gas for twenty five years. The 41 00:02:17,000 --> 00:02:19,760 Sean Aylmer: gas will be transported through a pipeline to the Darwin 42 00:02:20,000 --> 00:02:24,200 Sean Aylmer: LNG plant, where the condensate will be exported via tanker straight. 43 00:02:24,240 --> 00:02:27,200 Sean Aylmer: Number four. Woodside Energy, Australia's largest oil and gas producer, 44 00:02:27,360 --> 00:02:29,680 Sean Aylmer: reported a four percent drop in production from the March 45 00:02:29,760 --> 00:02:32,880 Sean Aylmer: quarter to forty nine point one million barrels of oil 46 00:02:32,880 --> 00:02:35,160 Sean Aylmer: equivalent now. That was due to bad weather at the 47 00:02:35,200 --> 00:02:39,359 Sean Aylmer: Northwest Shelf and unplanned outages at Pluto. The fall in 48 00:02:39,400 --> 00:02:42,880 Sean Aylmer: Australian assets were partially offset by a stronger performance at 49 00:02:42,880 --> 00:02:45,920 Sean Aylmer: its United States based gas fields, that's the Shenzi and 50 00:02:46,080 --> 00:02:49,519 Sean Aylmer: Atlantisk fields. They're both located off the coast of Louisiana 51 00:02:49,560 --> 00:02:53,200 Sean Aylmer: in the South. Quarterly revenue for Woodside fell five percent 52 00:02:53,240 --> 00:02:56,119 Sean Aylmer: from the previous quarter to about three point three billion dollars. 53 00:02:56,160 --> 00:02:59,920 Sean Aylmer: That was driven by lower output in softer oil linked pricing. However, 54 00:03:00,040 --> 00:03:02,280 Sean Aylmer: on a year on year basis, both production and revenue 55 00:03:02,360 --> 00:03:05,640 Sean Aylmer: was higher. CEO Meg o' neils said a customer demand 56 00:03:05,680 --> 00:03:08,760 Sean Aylmer: for Woodsides L and G remains robust and Finally, storying 57 00:03:08,840 --> 00:03:11,760 Sean Aylmer: number five, a bunch of corporate stories let' see if 58 00:03:11,800 --> 00:03:14,040 Sean Aylmer: we can get through the mall. Uranium minor Paladin and 59 00:03:14,160 --> 00:03:17,080 Sean Aylmer: Energy was the ASX two hundred's best performer today, jumping 60 00:03:17,080 --> 00:03:20,240 Sean Aylmer: twenty five percent and lifting other uranium stocks after its 61 00:03:20,320 --> 00:03:24,800 Sean Aylmer: Langue Heindrich mine notched a record quarterly output result even 62 00:03:24,800 --> 00:03:29,120 Sean Aylmer: as major rainfall effected operations. Telix Pharmaceuticals rose twelve percent 63 00:03:29,320 --> 00:03:31,880 Sean Aylmer: after reporting a more than sixty percent jump in revenues 64 00:03:31,880 --> 00:03:34,240 Sean Aylmer: that was driven by strong sales of its imaging agent 65 00:03:34,560 --> 00:03:38,160 Sean Aylmer: for men with prostate cancer. Retailer Seti fell more than 66 00:03:38,160 --> 00:03:41,560 Sean Aylmer: twenty percent after reporting week demand from US customers owing 67 00:03:41,600 --> 00:03:44,680 Sean Aylmer: to the impact of US President Donald Trump's tariffs, and 68 00:03:44,760 --> 00:03:48,920 Sean Aylmer: West Australian gold miner Capricorn Metal sank eleven percent after 69 00:03:48,960 --> 00:03:52,040 Sean Aylmer: it stood down its chief executive, who's been charged with 70 00:03:52,320 --> 00:03:55,800 Sean Aylmer: aggravated assault. That's it for the afternoon report for Wednesday, 71 00:03:55,840 --> 00:03:57,880 Sean Aylmer: the twenty third of April twenty twenty five. Make sure 72 00:03:57,880 --> 00:03:59,560 Sean Aylmer: you hit follow on the podcast. We will be back 73 00:03:59,560 --> 00:04:02,320 Sean Aylmer: tomorrow more morning with the Thursday edition of Past five 74 00:04:02,360 --> 00:04:06,080 Sean Aylmer: Desisting News by Fare and Greeb. I'm Sean Aylmer. Enjoy your evening.