1 00:00:03,440 --> 00:00:06,560 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,600 --> 00:00:09,520 Speaker 1: for Wednesday, the twenty second of October twenty twenty five. 3 00:00:09,640 --> 00:00:12,600 Speaker 1: Are Michael Thompson. Every afternoon, We've got the five stories 4 00:00:12,600 --> 00:00:14,640 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,640 --> 00:00:16,800 Speaker 1: go start number one. The S and p ASX two 6 00:00:16,880 --> 00:00:20,400 Speaker 1: hundred fell zero point seven percent today to close at 7 00:00:20,560 --> 00:00:23,479 Speaker 1: nine thousand and thirty points. It hit a record yesterday, 8 00:00:23,640 --> 00:00:26,720 Speaker 1: not doing the same today, pulled down by a major 9 00:00:26,760 --> 00:00:28,600 Speaker 1: slump in the gold price. We'll have more on that 10 00:00:28,640 --> 00:00:30,840 Speaker 1: one in a moment, but it wasn't just the gold 11 00:00:30,840 --> 00:00:33,680 Speaker 1: miners having a shock at today. Rare Earth's mine has 12 00:00:33,720 --> 00:00:37,160 Speaker 1: tumbled just a day after Donald Trump and Anthony Albanezi 13 00:00:37,320 --> 00:00:40,920 Speaker 1: signed a critical Minerals and Rare Earth's deal worth billions. 14 00:00:41,479 --> 00:00:44,560 Speaker 1: Our Fura was off thirteen and a half percent, Australian 15 00:00:44,640 --> 00:00:48,640 Speaker 1: Strategic Minerals almost twelve percent, Australian Rare Earth's eleven percent. 16 00:00:48,880 --> 00:00:52,080 Speaker 1: There's better news from oil and gas. Giant Woodside mcclimbed 17 00:00:52,120 --> 00:00:55,280 Speaker 1: three and a half percent after an increase in quarterly 18 00:00:55,320 --> 00:01:00,360 Speaker 1: production a whopping fifty point eight million barrels of oil. 19 00:01:00,880 --> 00:01:03,720 Speaker 1: A few other bits and pieces around four D Medical 20 00:01:03,880 --> 00:01:07,920 Speaker 1: jumped almost three percent after securing its first commercial deployment 21 00:01:08,080 --> 00:01:13,320 Speaker 1: of its respiratory imaging technology. Online. Luxury retailer Satire dropped 22 00:01:13,400 --> 00:01:16,679 Speaker 1: two point one percent after announcing an eighteen percent lift 23 00:01:16,840 --> 00:01:20,320 Speaker 1: in revenue outside the US in the September quarter. Overall 24 00:01:20,400 --> 00:01:24,120 Speaker 1: sales revenue, though, shrank three percent, largely thanks to the 25 00:01:24,200 --> 00:01:28,559 Speaker 1: US tariffs. Homewares Group Adares had a great date, surged 26 00:01:28,680 --> 00:01:32,840 Speaker 1: eight percent today despite slightly downgrading its sales forecast, and 27 00:01:32,920 --> 00:01:36,039 Speaker 1: Air New Zealand fell after saying it expected a bigger 28 00:01:36,040 --> 00:01:39,600 Speaker 1: loss in the current half year. Onto story number two, 29 00:01:39,880 --> 00:01:43,160 Speaker 1: and it is all about gold. The record breaking rally 30 00:01:43,520 --> 00:01:46,880 Speaker 1: in the price of gold has come to a sudden halt, 31 00:01:46,920 --> 00:01:49,920 Speaker 1: you'd say, with prices plunging more than six percent in 32 00:01:49,960 --> 00:01:53,320 Speaker 1: their biggest one day fall since twenty thirteen. The selloff 33 00:01:53,320 --> 00:01:56,040 Speaker 1: overnight continued today, sending the spot price as low as 34 00:01:56,080 --> 00:01:59,840 Speaker 1: four thousand and four US dollars an ounce before we 35 00:01:59,880 --> 00:02:04,280 Speaker 1: covering to four one hundred and thirty eight. The drop 36 00:02:04,280 --> 00:02:07,920 Speaker 1: has really smashed a wave of new retail investors. Everyone 37 00:02:08,000 --> 00:02:10,200 Speaker 1: wanted in on the stunning climb in the price of 38 00:02:10,200 --> 00:02:12,040 Speaker 1: the precious metal. We've been talking about it for so 39 00:02:12,160 --> 00:02:16,920 Speaker 1: long ASX listed gold miners have been hammered. Today Neumont Evolution, 40 00:02:17,280 --> 00:02:21,440 Speaker 1: Bellevue Gold, Romeilias Resources, Genesis Minerals, all of them down 41 00:02:21,480 --> 00:02:25,320 Speaker 1: around ten percent. Analysts say the pullback was inevitable, and 42 00:02:25,480 --> 00:02:29,040 Speaker 1: City now expects gold to stabilize around four thousand US dollars. 43 00:02:29,040 --> 00:02:33,280 Speaker 1: Announces the US government shutdown ends and trade tensions ease. 44 00:02:34,000 --> 00:02:35,480 Speaker 1: There is a lot to this and we will have 45 00:02:35,520 --> 00:02:38,840 Speaker 1: a lot more on it in tomorrow morning's episode. Onto 46 00:02:38,840 --> 00:02:42,040 Speaker 1: story number three. Now in Sigma Healthcare says Chemist Warehouse 47 00:02:42,080 --> 00:02:45,800 Speaker 1: sales jumped seventeen point nine percent in the September quarter, 48 00:02:46,120 --> 00:02:49,520 Speaker 1: fueled by surging demand for weight loss drugs like a Zenpic. 49 00:02:50,000 --> 00:02:54,000 Speaker 1: Chief Executive Vikesh Ramsunder told shareholders today that the strong 50 00:02:54,040 --> 00:02:57,959 Speaker 1: start to FI twenty six reflected a stronger contribution from 51 00:02:58,080 --> 00:03:01,560 Speaker 1: GLP one sales. Now. This was the company's first AGM 52 00:03:01,680 --> 00:03:06,480 Speaker 1: since Chemist Warehouses reverse takeover of Sigma Sigma Shares Bros. 53 00:03:06,560 --> 00:03:10,240 Speaker 1: Zero point seven percent today Onto story number four, And 54 00:03:10,320 --> 00:03:12,520 Speaker 1: we've been talking about it for a very long time, 55 00:03:12,639 --> 00:03:17,600 Speaker 1: but after fifteen months in administration, Regional Airline Rex has 56 00:03:17,639 --> 00:03:21,960 Speaker 1: officially found a buyer. E Y has now confirmed US 57 00:03:22,040 --> 00:03:26,480 Speaker 1: aviation company AIRT will acquire the carrier and its Ballarat 58 00:03:26,480 --> 00:03:29,480 Speaker 1: training school in a deal supported by the federal government. 59 00:03:29,760 --> 00:03:33,840 Speaker 1: EY says the transaction will keep Rex flying will preserve jobs. 60 00:03:33,960 --> 00:03:37,840 Speaker 1: Airte plans to fund Rex's engine renewal program and return 61 00:03:37,880 --> 00:03:41,840 Speaker 1: its full fleet of SABA three fortys to service. Transport 62 00:03:41,840 --> 00:03:44,440 Speaker 1: Minister Catherine King has welcomed the deal, saying it will 63 00:03:44,480 --> 00:03:48,120 Speaker 1: secure critical regional airlinks. Creditors are due to vote on 64 00:03:48,160 --> 00:03:51,440 Speaker 1: the sale later this week, and finally, story number five, 65 00:03:51,880 --> 00:03:55,120 Speaker 1: planned peace talks between Donald Trump and Vladimir Putin in 66 00:03:55,160 --> 00:03:59,880 Speaker 1: Budapest have been scrapped after Moscow accused Washington of backtracking 67 00:04:00,080 --> 00:04:03,960 Speaker 1: on a ceasefire proposal. Russia rejected Trump's call for an 68 00:04:03,960 --> 00:04:08,080 Speaker 1: immediate halt to fighting along current frontlines, calling it a 69 00:04:08,360 --> 00:04:13,360 Speaker 1: betrayal of earlier agreements. The collapse comes amid growing frustration 70 00:04:13,840 --> 00:04:19,000 Speaker 1: in Ukraine after Trump refused to supply Kiv with Tomahawk missiles. 71 00:04:19,240 --> 00:04:22,039 Speaker 1: European leaders have backed Trump's demand for a ceasefire, but 72 00:04:22,080 --> 00:04:25,320 Speaker 1: want tougher sanctions to pressure Moscow into what have been 73 00:04:25,360 --> 00:04:28,680 Speaker 1: described as genuine talks. That's it for the afternoon report 74 00:04:28,760 --> 00:04:31,800 Speaker 1: for Wednesday, the twenty second of October twenty twenty five, 75 00:04:32,120 --> 00:04:34,400 Speaker 1: make sure you hit follow on the podcast and head 76 00:04:34,400 --> 00:04:37,919 Speaker 1: along to Fearangreed dot com dot au. Sign up for 77 00:04:37,920 --> 00:04:40,920 Speaker 1: our free daily newsletter. I'll put a link in today's 78 00:04:40,920 --> 00:04:42,839 Speaker 1: show notes, and for a limited time you have a 79 00:04:42,920 --> 00:04:47,200 Speaker 1: chance to win a very exclusive Fear and Greed merchandise pack. 80 00:04:47,279 --> 00:04:49,080 Speaker 1: I'm Michael Thompson. Enjoy your evening.