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Speaker 1: Welcome to the Fear and Greed Business News.

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Speaker 2: The Afternoon Report for Tuesday, the twenty ninth of April

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Speaker 2: twenty twenty five. I'm sure, Alma, every afternoon, we've got

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Speaker 2: the five stories that happened today that you need to

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Speaker 2: know about. Story number one, the SMPASX two hundred closed

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Speaker 2: at a two month hides afternoon notwithstanding a pretty ordinary

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Speaker 2: night on Wall Street. The local Boss ended up nearly

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Speaker 2: one percent to eight thousand and seventy one points.

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Speaker 1: That's four consecutive days of rises. It was a good

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Speaker 1: day for the tech stocks, with Zero and Weis Tech

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Speaker 1: both outperforming. Also a good day for property companies. Goodman

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Speaker 1: and Mervak led the way there, but they're being mirverers again.

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Speaker 1: Were the uranium stocks up until early last week they'd

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Speaker 1: been sold off, but Boss Energy, Deep Yellow, and Paladin

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Speaker 1: Energy have gone on iran. All were up around ten

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Speaker 1: percent yesterday. Paladin is up more than forty percent in

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Speaker 1: five trading sessions. If only I knew that a week ago.

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Speaker 1: Story number two. Rio Tinto says it is uncertain whether

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Speaker 1: it can continue to operate its Bell Bay aluminum smelter

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Speaker 1: after spending six years unsuccessfully negotiating a new palaceupply agreement

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Speaker 1: with the Tasmanian government. The company has eight months before

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Speaker 1: its existing deal with the state government's Hydro Tasmania expires.

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Speaker 1: According to the Finn Review, While REO Chief executive Yakub

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Speaker 1: steals Home has promised to work toward a viable low

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Speaker 1: carbon future for Rio's Forest Australation smelters, his patience is

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Speaker 1: definitely being tested with decisions on the future of New

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Speaker 1: South Wales to Margo Smelter and the Bell Bay Smelter

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Speaker 1: due this year. Aluminium smelters are Australia's biggest power consumers,

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Speaker 1: while Rio's Tomago and Boyne smelters are largely powered by

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Speaker 1: fossil fuels. The low carbon hydroelectricity provided by the Tasmanian

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Speaker 1: government means the Bell Bay smelter already fits with Rio's

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Speaker 1: decarbonization agenda. Story number three beleague at iron ore and

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Speaker 1: Lithium group. Mineral Resources has cut its guidance for the

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Speaker 1: red ore and is burning through cash, but investors today

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Speaker 1: pushed its share price up thirteen percent. Mineral Resources said

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Speaker 1: net debt had risen by three hundred million dollars to

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Speaker 1: five point four billion dollars. Its market cap is just

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Speaker 1: four point one billion dollars. Therefore, it owes a lot

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Speaker 1: more than it's worth. Mind jim, it has tumbled this stock.

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Speaker 1: It's about worth about a quarter of what it was

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Speaker 1: a year ago. Now.

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Speaker 2: The Australian Securities and Investments Commission is investigating the allegations

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Speaker 2: against Mineral Resources and its CEO Chris Ellison, who remains

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Speaker 2: the diversified miners managing director and biggest shareholder with an

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Speaker 2: eleven point five percent stake. Ellison has pleaged to quit

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Speaker 2: by midnext year, and Chair James McClements will depart in

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Speaker 2: coming weeks. Notwithstanding all that, the share price surge today

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Speaker 2: when those results came in and weren't quite as poor

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Speaker 2: as expected story number five in Corporate News. Northern Star

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Speaker 2: Resources share price fell five percent today after downgrading its

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Speaker 2: full year gold output guidance. Mind you, it's still up

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Speaker 2: nearly thirty percent this year and White having coal raise

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Speaker 2: five percent. Investors pretty much dismissed before them its quarterly

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Speaker 2: production and sales owing to seasonal weather impacts on its

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Speaker 2: Queensland mine and slower than planned progress at Narrambria in

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Speaker 2: New South Wales and Finally story at number five, Prime

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Speaker 2: Minister Mark Carney's Liberal Party, who won Canada's federal election

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Speaker 2: this morning, capping a pretty incredible turnaround in fortunes fueled

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Speaker 2: by Donald Trump's annexation threats and trade war after Pole's closed.

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Speaker 1: The Liberals were projected to win more of the parliament's

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Speaker 1: three hundred and forty three seats than the Conservative Party,

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Speaker 1: though it wasn't immediately clear if they would win an

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Speaker 1: outright majority or have to rely on one or small

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Speaker 1: smaller parties to form a government and pass legislation. The

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Speaker 1: Liberals looked headed for a crushing defeat until the American

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Speaker 1: President started attacking Canada's economy, threatening its sovereignty. In fact,

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Speaker 1: he suggested it should become the fifty first state. That's all.

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Speaker 1: According to Reuters, Mark Carney's Liberal Party did an incredible

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Speaker 1: turnaround the Poles and they are going in for their

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Speaker 1: fourth term. That's it for the Afternoon Report Fortune Tuesday,

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Speaker 1: the twenty ninth of April twenty twenty five. Make sure

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Speaker 1: you hit follow on the podcast. We'll be back tomorrow

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Speaker 1: morning with the Wednesday edition of the Past five Business Years.

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Speaker 1: Five Heere and Greek. I'm Sean Alma enjoy your evening