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

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Speaker 1: for Monday, the twentieth of October twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Let's get

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Speaker 1: cracking with story number one. The S and p ASX

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Speaker 1: two hundred climbed zero point four percent today to nine

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Speaker 1: thirty two points. Nine of the eleven sectors gained ground,

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Speaker 1: led by the banks. The big four were all higher,

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Speaker 1: with Commonwealth Bank climbing two point six percent. By now

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Speaker 1: pay Later operator ZIP was up four point three percent

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Speaker 1: after upgrading its growth outlook. For the US, the miners, though,

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Speaker 1: were the worst performers today. Investors sold off gold stocks,

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Speaker 1: even though the price of the precious metal climbed. Shares

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Speaker 1: in Newmont dropped almost six percent, Evolution down almost five percent,

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Speaker 1: PERSEUS Mining about four percent lower. Critical minerals companies were

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Speaker 1: also down. I Luka was off six point seven percent,

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Speaker 1: although Linus rare earths actually went the other way, climbing

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Speaker 1: six point seven percent. Some relatively weak economic data out

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Speaker 1: of China certainly didn't help, with iron ore minor BHP

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Speaker 1: off one point one percent. The biggest move today, though,

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Speaker 1: came from uranium minor Deep Yellow, which fell almost twenty

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Speaker 1: percent with the chief executive leaving the company, and Drone

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Speaker 1: Shield dropped two point six percent despite reporting a significant

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Speaker 1: jump in revenue in the September quarter. How significant, I

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Speaker 1: hear you ask about one thousand percent? There you go.

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Speaker 1: Moving on to story number two. Now and Prime Minister

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Speaker 1: Anthony Alberanezi has arrived in Washington ahead of his face

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Speaker 1: to face meeting with US President Donald Trump, where he

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Speaker 1: is expected to push for support to build a strategic

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Speaker 1: reserve of Australian critical minerals. The Oval Office talks come

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Speaker 1: amid rising US China tensions, with Beijing accused of essentially

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Speaker 1: weaponizing export curbs on minerals essential for defense, chip making

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Speaker 1: and evs. The renewed trade friction has given our Prime

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Speaker 1: Minister perhaps an opening to pitch Australia as a secure

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Speaker 1: alternative supply, but it also risks putting him at odds

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Speaker 1: with our largest export market. We will have full coverage

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Speaker 1: of the meeting on tomorrow morning's episode. Story number three.

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Speaker 1: China's growing buying power could push mining giant BHP and

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Speaker 1: Rio tinto toward a limited iron ore alliance, once considered impossible.

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Speaker 1: According to analysts at the Royal Bank of Canada, Beijing's

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Speaker 1: state backed China Mineral Resources Group now coordinates much of

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Speaker 1: the country still demand and is demanding new terms that

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Speaker 1: threaten to erode miners pricing power. The Australian reports today

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Speaker 1: that RBC analysts are predicting a JV light model focused

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Speaker 1: on logistics blending renewable energy and decarbonization could help defend

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Speaker 1: the pricing premium of the pilbre miners while avoiding antitrust concerns.

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Speaker 1: BHP and RIO have declined to comment on the speculation.

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Speaker 1: Story number four. A buyer has reportedly been found for

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Speaker 1: collapsed regional carrier Rex Airline, with nine newspapers reporting that

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Speaker 1: Nasdaq listed airt has agreed to acquire the business fifteen

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Speaker 1: months after it entered voluntary administration. Rex, which operates fifty

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Speaker 1: seven planes on regional routes, had struggled with mounting debts

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Speaker 1: after expanding into capital city markets. The Golden Triangle to

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Speaker 1: compete with Quantus and Virgin airte runs cargo and charter

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Speaker 1: services in the US, and it will provide access to

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Speaker 1: spare parts for Rex's aging Saab fleet and help maintain

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Speaker 1: these crucial regional connections that are a vital part of

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Speaker 1: what REX does. The Albanezer government, which loaned up to

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Speaker 1: eighty million dollars to keep the airline flying and bought

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Speaker 1: fifty million dollars of debt from its largest creditor, had

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Speaker 1: insisted any buyer commit to servicing remote communities. Full details

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Speaker 1: of the deal are expected to emerge later this week.

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Speaker 1: And finally story number five. Two people have died after

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Speaker 1: a cargo Boeing seven four to seven, operating for Emirates

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Speaker 1: skid it off the runway into the sea while landing

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Speaker 1: in Hong Kong early this morning. The aircraft collided with

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Speaker 1: an airport patrol car during poor weather, pushing it into

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Speaker 1: the water and killing two security staff on the ground.

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Speaker 1: All four crew were rescued taken to hospital. No cargo

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Speaker 1: was on board the aircraft. The incident has prompted the

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Speaker 1: temporary closure of the airport's northern runway, which is one

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Speaker 1: of our Asia's busiest, while investigator search for the planes

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Speaker 1: black boxes. The thirty two year old jets was originally

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Speaker 1: delivered as a passenger aircraft in nineteen ninety three. Before

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Speaker 1: being converted to freight use. That is it for the

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Speaker 1: afternoon Report for Monday, the twentieth of October twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast and head

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Speaker 1: along to Fear and Greed dot com dot au and

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Speaker 1: sign up for our free daily newsletter. I'm Michael Thompson.

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Speaker 1: Enjoy your ethning.