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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: Financial markets are on edge as US President Donald Trump

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Speaker 1: heads home to oversee the US's response to the Middle

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Speaker 1: East conflict. Australia's Future Fund decides to reduce its investments

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Speaker 1: in the US on the back of the political and

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Speaker 1: economic instability. And we'll tell you about a stock that

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Speaker 1: has jumped forty six thousand percent in the last year plus.

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Speaker 1: Federal Treasurer Jim Chalmers warns that there's a long way

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Speaker 1: to go on the Santas sale and uranium stocks keep running.

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Speaker 1: It is Wednesday, the eighteenth of June twenty twenty five.

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Speaker 1: I'm Michael Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning Michael.

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Speaker 1: Sean quick mention of the Fear and Greed newsletter. It

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Speaker 1: is out today. It's out every weekday, actually, isn't it.

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Speaker 1: It's every morning by six am. It is just so

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Speaker 1: done regular, oh so done.

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Speaker 2: Regular, And it's got all the information you need before

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Speaker 2: you get to your desk every morning. Read it on

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Speaker 2: the train on your phone as you're going in. Then

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Speaker 2: you'll arrive at work one step ahead.

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Speaker 1: Yeah, and it is entirely free. Sign up at Fearandgreed

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Speaker 1: dot com dot au. I'll put a link in today's

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Speaker 1: show notes as well, so you can find it very easily.

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Speaker 1: All right, on with the show. The main story this

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Speaker 1: morning sewn financial markets are on edge after US President

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Speaker 1: Donald Trump said people should evacuate from the Iranian capital

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Speaker 1: of Tehran as he left the G seven summit in

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Speaker 1: Canada early after.

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Speaker 2: Five days of fighting. The warning from Trump rattled investors

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Speaker 2: who are worried about a major attack on the Iranian capital.

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Speaker 2: Any such attack would escalate the situation in the Middle East. Notwithstanding,

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Speaker 2: there are reports that Iran is pushing for some sort

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Speaker 2: of de escalation. The Wall Street journals reporting that Tehran

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Speaker 2: signaled it wants to de escalate hostilities with Israel and

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Speaker 2: is willing to resume nuclear talks with the US as

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Speaker 2: long as Washington doesn't join the Israeli attacks. At this point,

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Speaker 2: Iran has suffered far more casualties, including deaths, than Israel,

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Speaker 2: and there's a sense, which was voiced by Donald Trump,

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Speaker 2: that Israel is clearly winning the battle. Oil price is

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Speaker 2: pushed higher on the Trump comments about Tehran, reflecting fears

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Speaker 2: of disruptions to world supply. Iran controls the Strait of Hermas,

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Speaker 2: which carries about nineteen percent of Coude production. So if

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Speaker 2: it becomes a prior in the global economy, that's really

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Speaker 2: going to hit well. Supply of oil, gold price is

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Speaker 2: pushed back towards thirty four hundred US dollars. Announced safe

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Speaker 2: haven status comes back into focus on that one. Now,

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Speaker 2: Donald Trump has convened a meeting of his National security staff.

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Speaker 2: He went straight there on his arrival back in Washington overnight.

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Speaker 2: The US is repositioning warships and military aircraft in the

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Speaker 2: region to respond if the conflict escalates further.

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Speaker 1: And as part of this is heading back to Washington.

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Speaker 1: As you said, that though, means that Prime Minister Anthony

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Speaker 1: Abernezi will not be meeting the US presidents as planned

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Speaker 1: and as we've been talking about for days now.

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Speaker 2: Yeah, the timing wasn't good. Now, Albanezi had just given

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Speaker 2: a press conference about what he wanted out of the

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Speaker 2: meeting with Trump and then the US President said I'm

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Speaker 2: heading home. So that was that he had already met

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Speaker 2: Canadian Prime Minister Mark Carney and the UK's Keir Starmer.

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Speaker 2: Now he actually did a deal with Keir Starmer on

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Speaker 2: tariffs for the UK. He didn't endorse ORCAS in any

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Speaker 2: of those meetings, which is notable. A spokesperson for Anthony

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Speaker 2: Aberneze he said Donald Trump's decision to head home was

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Speaker 2: understandable maybe, but it certainly leaves plenty of uncertainty around

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Speaker 2: ORCUS and tariffs on Australian products, given Australia is not

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Speaker 2: in the G seven and Alberanze hasn't met with Donald

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Speaker 2: Trump since he became president. Really, the main goal for

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Speaker 2: the Prime Minister in the past few days was introductory

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Speaker 2: talks getting to know the US president, and he didn't

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Speaker 2: get them. So you'd have to say this has been

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Speaker 2: a bit of a fail, this trip to Canada for

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Speaker 2: Anthony Alberanezi.

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Speaker 1: Yeah, it does appear that way. I mean they could

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Speaker 1: have had that, They could have had a call on

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Speaker 1: Air Force one. Right, I'm pretty sure air Force one's

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Speaker 1: well equipped with phones and the like. Its just it's

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Speaker 1: not a great look, is it.

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Speaker 2: No, it's not. And I mean you don't totally blame

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Speaker 2: Anthony Abernezi. Donald Trump does what he Donald Trump wants

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Speaker 2: to do, of course, and nothing that ALBERNIZI could do

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Speaker 2: about it. But at the end of the day, if

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Speaker 2: our Prime minister's over there. The main goal was talked

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Speaker 2: to Trump and it didn't happen.

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Speaker 1: Okay, local market, how did it respond to what is

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Speaker 1: an awful lot of overseas turmoil?

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Speaker 2: Well, sensibly that's not much for a news story, but

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Speaker 2: it was there and PAX two hundred it's pretty flat.

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Speaker 2: It closed down just a touched eighty five hundred and

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Speaker 2: forty one points the best. The local boss has been

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Speaker 2: really steady the last few sessions. Now, the gold and

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Speaker 2: uranium stocks did world yesterday, but not really much going on.

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Speaker 2: I think investors are in a bit of a holding

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Speaker 2: pattern now. Neither of the ten largest stocks were lower,

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Speaker 2: including all the big banks, BHP wes Farmer's. Only Goodman

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Speaker 2: Group really did anything of significance. It jumped one point

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Speaker 2: four percent. Another strong performer worth pointing out again Sigma Healthcare.

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Speaker 2: Thanks it's with Chemist Warehouse. It's now the seventeenth largest

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Speaker 2: company on the burse, having appreciated one hundred and sixty

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Speaker 2: nine percent over the past year.

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Speaker 1: Now, Australia's three hundred billion dollars sovereign Wealth fund, the

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Speaker 1: Future Fund, is going to cut its US exposure in

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Speaker 1: response to fears that President Donald Trump has added quote

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Speaker 1: layers of volatility and uncertainty to the world's biggest economy.

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Speaker 1: That's a that's a pretty big statement, it is.

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Speaker 2: Future Fund chair Greg Comba pointed to a series of

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Speaker 2: controversial calls made by Washington, including the decision to review

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Speaker 2: ORCUS and its global tariff regime, as proof that Australia's

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Speaker 2: traditional economic and security relationships with the US are riskier.

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Speaker 2: Komme gave a bunch of reasons for not investing as

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Speaker 2: much in the US going forward. Its retreat from a

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Speaker 2: leadership role in global and economic security, the rising rivalry

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Speaker 2: between the US and China, the tariff policies I've mentioned,

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Speaker 2: the US dollar depreciation that threatens its role as a

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Speaker 2: world's reserve currency. Combay also talked about threats to CISS

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Speaker 2: schemically important institutions such as the Federal Reserve, which has

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Speaker 2: been attacked by Donald Trump. Also the President's Big Beautiful Bill,

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Speaker 2: which intends to increase taxes on foreign investors such as

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Speaker 2: Australia's super funds. Hence, Combays reckons that the Future Funds

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Speaker 2: shouldn't be investing as much money in the US. He

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Speaker 2: said it's of material significance because the majority of the

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Speaker 2: future funds physical assets are actually denominated in US dollars,

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Speaker 2: and that's not great news.

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Speaker 1: No, okay, Now, Sean, every week we take a look

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Speaker 1: at business by numbers. This happened every Wednesday. This is

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Speaker 1: the top three numbers to know for the week, brought

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Speaker 1: to you by zero zero dot com slash au. What's

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Speaker 1: our first number.

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Speaker 2: Our first number thirty billion dollars. Obvious one the bid

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Speaker 2: for Santos by Abu Dhabi's national oil Company.

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Speaker 1: Now we have covered that one fairly extensively, and more

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Speaker 1: to come, Sean. Next one, this is a great one.

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Speaker 2: Twenty million tons with the T tons. What else it'd

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Speaker 2: be definitely ta twenty million tons of copper. That's what

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Speaker 2: a Reo Tinto BHP joint venture wants to produce over

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Speaker 2: the next forty years out of the earth in Arizona.

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Speaker 2: We'll tell you about that one in a moment too.

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Speaker 2: And finally, number three, forty six thousand percent. That's the

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Speaker 2: jump and the share price over the past year of

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Speaker 2: a group called Reagan Cell Bioscience Company that has zero revenue.

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Speaker 2: We'll talk about that one later as well.

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Speaker 1: Oh, that is a cracker of a number. So that

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Speaker 1: is the three numbers, the top three numbers to know

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Speaker 1: for the week. Sean, We've got a lot to get through,

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Speaker 1: including a couple of those stories. We'll be back in

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Speaker 1: a moment with the rest of the day's business news. Sean.

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Speaker 1: Federal Treasurer Jim Chalmers says the thirty billion dollars Santos

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Speaker 1: takeover bid from a consortium led by Abu Dhabi's national

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Speaker 1: oil company quote has a long way to run yet.

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Speaker 2: Yes, that doesn't help with share price Santas's share price.

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Speaker 2: That is, it was the first time the Treasurer, who

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Speaker 2: needs to approve the deal, has spoken since details of

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Speaker 2: it were announced on Monday. Mister Chalmers said the Foreign

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Speaker 2: Investment Review Board's advice would consider economic and national security.

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Speaker 2: Santatsra's share price jumped eleven percent on Monday, it was

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Speaker 2: flat yesterday. It actually closed at seven dollars seventy six

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Speaker 2: a share, still well below the offer price of eight

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Speaker 2: dollars eighty nine. Quite a difference there at this point. Yeah.

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Speaker 1: Indeed, you've got an interview coming up after the show.

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Speaker 1: You're speaking with Nick Burns, who is head of energy

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Speaker 1: research at Jarden. This is a great insight into that

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Speaker 1: whole deal.

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Speaker 2: Yes it is, and why Adnock, the Middle Eastern Consortium

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Speaker 2: is interested in Santos, and then we talk about what's

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Speaker 2: happening woodside, generally with what's happening with those oil and

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Speaker 2: gas players.

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Speaker 1: It's a great chat, yeah, indeed, and particularly why there

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Speaker 1: are so much interest coming out of the Middle East

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Speaker 1: for Australia. Fascinating stuff. So that's coming up after the show. Sean,

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Speaker 1: you mentioned this one earlier. A multi billion dollar underground

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Speaker 1: copper mine proposed by Rio Tinto and BHP in the

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Speaker 1: US state of Arizona has received environmental approval from the

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Speaker 1: US Department of Agriculture. That would be a big step, right.

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Speaker 2: A big step because this has been in limbo for

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Speaker 2: a number of years. It's called Resolution Copper. It had

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Speaker 2: gained clearance in twenty twenty one environmental clearance that was

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Speaker 2: rescinded by the Biden administration. Now the project has drawn

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Speaker 2: opposition from indigenous environmental groups, according to the Finn Review,

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Speaker 2: but this week US Department of Agriculture Secretary Brook Roland

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Speaker 2: to the approvals a major step forward for the project

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Speaker 2: that eventually aims to employ fifteen hundred people. Resolution says

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Speaker 2: the proposed underground mine is expected to become the largest

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Speaker 2: copper mine in North America. Aims to produce twenty million

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Speaker 2: tons of copper over forty years. No wonder, it's one

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Speaker 2: of our zero number of the day.

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Speaker 1: Yeah, it's interesting, isn't it that that originally had approval

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Speaker 1: and then was rescinded by the Biden administration. I know

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Speaker 1: we talk a lot about uncertainty created by the Trump administration,

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Speaker 1: but something like that where there was approval in place

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Speaker 1: and that it was rescinded by a previous government, shows

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Speaker 1: that it does happen in all governments, right, absolutely.

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Speaker 2: And the original approval was from Trump, Mark I, and

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Speaker 2: then Biden came in and rescinded it. Yeah. So as

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Speaker 2: we always talk about, business hates uncertainty. Yeah.

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Speaker 1: Indeed. Now CSL has announced that the United States Food

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Speaker 1: and Drug Administration has approved its new drug designed to

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Speaker 1: prevent attacks of hereditary angiodema, which is a rare genetic

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Speaker 1: condition that triggers uncontrolled and seemingly random swelling.

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Speaker 2: It's called andembri It is formulated to provide sustained protection

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Speaker 2: from at tax of this hereditary angioedema. It occurs in

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Speaker 2: about one in every fifty thousand people. Now CSL will

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Speaker 2: launch the treatment in the US immediately. It also it

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Speaker 2: means already received approval in Australia, the UK, the European Union, Japan,

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Speaker 2: SWITZ and United Arab Emirates didn't do a lot to

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Speaker 2: see this SOL share price yesterday, but good news for

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Speaker 2: that company.

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Speaker 1: Uranium stocks Sean are having a good time of it,

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Speaker 1: with forty eight hours of share price increases. It comes

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Speaker 1: after sprot Physical Uranium Trust says it will raised one

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Speaker 1: hundred million US dollars to buy the nuclear fuel.

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Speaker 2: Okay, so we know uranium stocks are doing well. But

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Speaker 2: this is for me just this kind of interesting little

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Speaker 2: story because what sprot Physical Uranium Trust does, it's an ETF.

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Speaker 2: It actually holds uranium physically, probably not in their hands,

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Speaker 2: I'm hoping preferably in some vaults, hope not. Yes, in

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Speaker 2: the form of what's done as U three R eight,

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Speaker 2: which is better known as yellow cake. So it's a

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Speaker 2: form of uranium. Given the growing number of nuclear reactors

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Speaker 2: in the planning, the price of uraniums on the rise,

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Speaker 2: like it was training pre covid uranium was around twenty

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Speaker 2: dollars a pound. You dollars a pound, got about one

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Speaker 2: hundred US dollars a pound late last year. Now it's

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Speaker 2: about eighty US dollars a pound. Still, you know, four

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Speaker 2: times what it was pre uranium. That's really helped the

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Speaker 2: share prices of companies, particularly in recent weeks. Deep Yellow,

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Speaker 2: Boss Energy, Paladin, Silent Systems, They've all surged, particularly in

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Speaker 2: recent weeks, but in the last few days because of

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Speaker 2: this sprot physical uranium trust.

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Speaker 1: Okay, turning to international news. Now, Sean and Donald Trump

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Speaker 1: might have left the G seven summit in Canada a

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Speaker 1: touch early, but the show went on with the Group

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Speaker 1: of seven nations expressing support for Israel and labeling its

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Speaker 1: rival Iran as a source of instability in the Middle East.

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Speaker 2: Very serious topic. But just allow me to suggest something

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Speaker 2: Donald Trump. It was all about Donald Trump and then

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Speaker 2: he left. It's kind of like, you know a Broadway

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Speaker 2: show and the lead actor turns up, does the first half,

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Speaker 2: then leaves. Yeah, so the second half, I mean, no

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Speaker 2: one really cares at that point.

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Speaker 1: No, And for a body like that, for the G

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Speaker 1: seven to have weight, it needs the strongest player there.

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Speaker 2: Yeah. Yeah, nice sports analogy for a man who doesn't

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Speaker 2: really like sports. That's a good sports analogy.

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Speaker 1: Thanks. It was entirely deliberate.

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Speaker 2: As I mentioned earlier, he Trump did, prior to leaving

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Speaker 2: talk to the UK Prime Minister Keir Starma that resulted

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Speaker 2: in a trade deal with reduced tariffs on British carmakers

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Speaker 2: and aerospace manufacturers. Trump also held talks with Japanese Prime

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Speaker 2: Minister Shigeru Yeshiba. Now they failed to reach an agreement

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Speaker 2: on a trade package. It's also worth mentioning we discussed

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Speaker 2: Anthony Albernezi didn't get a meeting with Donald Trump, nor

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Speaker 2: did Ukrainian President Vladimir Zelenski, nor Mexican President Claudia's Shinebohm

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Speaker 2: or Indian Prime Minister Narendra Mody. So a few disappointed

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Speaker 2: global leaders out there. Yeah. Now shown.

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Speaker 1: This final story is one that we alluded to earlier.

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Speaker 1: It's about a stock that trades on Mall Street has

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Speaker 1: made zero revenue this year, much less a profit at

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Speaker 1: share price is four hundred and sixty times higher today

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Speaker 1: than it was a year ago.

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Speaker 2: This is so share price has risen forty six one

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Speaker 2: thousand percent. That means incredible. It's a biotech focused on

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Speaker 2: herbal medicine regions sell buyers Science Holdings Limited. Its market

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Speaker 2: cap is now almost thirty billion US dollars, up from

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Speaker 2: about fifty three million dollars fifty three million to thirty billion.

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Speaker 2: That's over the past two months, according to Bloomberg. Earlier

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Speaker 2: this month, the company said has Boord approved a thirty

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Speaker 2: eight for one stock split. So if you ended if

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Speaker 2: it shares thirty eight dollars, thirty eight for one stock

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Speaker 2: split means you get thirty eight one dollar shares instead

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Speaker 2: of that thirty eight dollars share. When the split took

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Speaker 2: effect on Monday, the share price raise two hundred and

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Speaker 2: eighty three percent one day, the biggest one day jump

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Speaker 2: in almost a year, to a record high. It triggered

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Speaker 2: what they call ten volatility halts, so in share trading,

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Speaker 2: when a stock rises or falls too much, it actually

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Speaker 2: the market steps in and says, no, no, no, tell

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Speaker 2: us why you're trading like this, Wise, we won't let

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Speaker 2: you trade. Well, it had ten of days in one day.

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Speaker 2: The extraordinary thing here is there's been little or no

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Speaker 2: news about the company that has prompted this totally ridiculous run.

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Speaker 2: It's a Hong Kong based firm debut on the nasday

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Speaker 2: twenty twenty one. It's in the research and development stage.

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Speaker 2: It's the goal is to treat neurological disorders such as

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Speaker 2: ADHD and autism spectrum disorder through traditional based herb based medicines.

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Speaker 2: But no revenue, no profit, no news. Up forty six

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Speaker 2: thousand percent.

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Speaker 1: So is it watch a solely kind of hype?

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Speaker 2: I don't know, Like I it's it's so ridiculous, you

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Speaker 2: just it's possible to know.

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Speaker 1: Oh, it's certainly one to keep an eye on just

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Speaker 1: what happens, because I'll be fascinated to see what goes on.

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Speaker 1: This is extraordinary. Now, Sean, we are working with FONTO

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Speaker 1: or Research Agency to learn more about our our fear

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Speaker 1: and Greed community, our fear and Greed friends. We are

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Speaker 1: running a short survey to hear from you. It is

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Speaker 1: we want to know how are you feeling and what

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Speaker 1: you love about fear and greed, what we could improve on,

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Speaker 1: anything else that you have in your heart that you'd

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Speaker 1: like to share. It only takes a few minutes and

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Speaker 1: by taking part by June thirty, you'll be in the

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Speaker 1: running to win a three thousand dollars luxury escapes about You,

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Speaker 1: which is a cracker of a prize. Sean Up next

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Speaker 1: Fear and Greed Daily Interview Jardin Australias, Nick Burns is

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Speaker 1: your guest. It is coming up in the Fear and

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Speaker 1: Greed playlist on your podcast platform or at Fearangreed dot

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Speaker 1: com dot au. Thank you very much, Sean.

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Speaker 2: Thank you Michael for is.

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Speaker 1: Wednesday, the eighteenth of June twenty twenty five. Make sure

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Speaker 1: you're following the podcast and please join us online on LinkedIn, Instagram,

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Speaker 1: x TikTok and Facebook. Michael Thompson and that was Fear

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Speaker 1: and Greed. Have a great day.