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Speaker 1: Welcome to the Fear and Green Business News Afternoon Report

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Speaker 1: for Monday, the second of June twenty twenty five. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about storing them

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Speaker 1: one there s and PASX two hundred closed down zero

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Speaker 1: point two percent today four hundred and fourteen points. There's

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Speaker 1: a pretty poor session with energy stocks leading the way lower.

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Speaker 1: They had plenty of friends. Westpac and National Astralia Bank

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Speaker 1: both fell one percent, as did Requary Group. Fortes qu

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Speaker 1: Metals Group and Rare were both down more than two percent,

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Speaker 1: while BHP was off one point two percent. The best

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Speaker 1: performers were the steady stocks less dependent on economic conditions.

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Speaker 1: Companies like Telstra, Transurban, Woollis and Coles Zero, Brambles and

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Speaker 1: QBA Insurance were among the best performers. In corporate news,

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Speaker 1: James Hardy rose after securing new debt totaling three and

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Speaker 1: a half billion dollars with broad support including thirty participating banks,

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Speaker 1: to contribute to its takeover of Azek. Perpetual jumped after

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Speaker 1: the finn Review reported that Bain Capital had made a

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Speaker 1: first round bid for the group's five hundred million dollar

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Speaker 1: oddit wealth management business, and Eager's Automotive is extending its

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Speaker 1: share buy back for a further twelve months. Sorry number two.

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Speaker 1: Prime Minister Anthony Alberizi says he's considering introducing low and

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Speaker 1: zero interest loans to assist farmers through the drought. The

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Speaker 1: Prime Minister said the nation is seeing more extreme weather

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Speaker 1: events of different varieties and the government is working with

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Speaker 1: farmer groups to address the challenges. He said there are

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Speaker 1: already some provisions for loans and the government's considering more.

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Speaker 1: There's also more money for the Rural Financial Counseling Service

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Speaker 1: to assist farmers through the challenging period. Straight number three.

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Speaker 1: One company who doesn't mind a hike in tariffs from

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Speaker 1: the US is Bluescope Steel. It owns a big meal

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Speaker 1: in Ohio and could well be a winner from Donald

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Speaker 1: Trump's announcement over the weekend to lift tariffs on steel

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Speaker 1: and aluminum to fifty percent. Bluescope's US operations supply automotive,

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Speaker 1: white goods and agricultural industries in total about three million

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Speaker 1: tons of steel a year. That's about ten times the

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Speaker 1: output of its port Kembler operation in New South Wales.

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Speaker 1: Its share price jumped five percent today. Story number four.

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Speaker 1: One of the big debates at the moment in financial

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Speaker 1: markets is whether the US would ever default, given the

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Speaker 1: multi trillion dollar legislation Donald Trump is trying to push through.

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Speaker 1: It's always been a theoretical possibility, but most pundits don't

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Speaker 1: think whatever actually happen. But that is now being questioned,

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Speaker 1: and overnight US Treasury Secretary Scott Besant said the US

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Speaker 1: is never going to default now. Just the fact that

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Speaker 1: he felt out to say it is of consequence. Otherwise,

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Speaker 1: in global markets, iron or is training at a one

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Speaker 1: month low on the back of the doubling of steel

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Speaker 1: and aluminium tariffs by the US. Oil rose about two

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Speaker 1: percent to just over sixty four US dollars a barrel.

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Speaker 1: Gold rose on the back of heightened geopolitical tensions and

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Speaker 1: story number five. It happened in the US, now it's

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Speaker 1: happening here. Investors are dumping at gold ETFs and heading

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Speaker 1: for cryptocurrencies. Last month, bitcoin exchange traded funds attracted eighty

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Speaker 1: seven point three million dollars in Australium, compared to just

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Speaker 1: one and a half million dollars for gold bullion ETFs.

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Speaker 1: According to van Neck, if investors got in early, they

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Speaker 1: probably made some money. With bitcoin up ten percent during May,

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Speaker 1: it actually hit an all time high at one point

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Speaker 1: of just under one hundred twelve thousand US dollars a unit.

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Speaker 1: That compares to a slight dropping goal prices in recent sessions.

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Speaker 1: The bitcoin has come back. It's now training around one

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Speaker 1: hundred and five thousand US dollars a unit. That's it

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Speaker 1: the Afternoon Report for Monday, the second of June twenty

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Speaker 1: twenty five. Make sure you hit following on the podcast.

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Speaker 1: We will be back tomorrow morning with a Tuesday edition

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Speaker 1: of Fear and Greed Business Unions. I'm sure Elmer enjoying

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Speaker 1: your evening