1 00:00:03,760 --> 00:00:06,320 Sean Aylmer: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:08,880 Sean Aylmer: for Wednesday, the twenty third of April twenty twenty five. 3 00:00:08,920 --> 00:00:11,840 Sean Aylmer: I'm Sean Aylmer. Every afternoon, We've got the five stories 4 00:00:11,880 --> 00:00:14,520 Sean Aylmer: that happened today that you need to know about. Storry 5 00:00:14,600 --> 00:00:16,919 Sean Aylmer: number one, there's and PASX two hundred finished up one 6 00:00:16,960 --> 00:00:19,840 Sean Aylmer: point three percent today to seven nine hundred and twenty 7 00:00:19,840 --> 00:00:23,040 Sean Aylmer: one points. The market benefited from comments out of the US, 8 00:00:23,160 --> 00:00:27,000 Sean Aylmer: whereby US President Donald Trump said he won't sack Federal 9 00:00:27,000 --> 00:00:30,760 Sean Aylmer: Reserve Chair J Powell. He also sounded more conciliatory to 10 00:00:30,920 --> 00:00:34,199 Sean Aylmer: China around Tariff's Wall. Street jumped in response, and the 11 00:00:34,240 --> 00:00:37,080 Sean Aylmer: local market followed the lead. The energy and techtoks did best, 12 00:00:37,440 --> 00:00:40,479 Sean Aylmer: while the gold miners were sold off. The big miners 13 00:00:40,520 --> 00:00:44,960 Sean Aylmer: BHP four to squ Metals, Real, Hinto, and US facing 14 00:00:44,960 --> 00:00:47,919 Sean Aylmer: stocks all surged, while the Commonwealth Bank was he laggard 15 00:00:48,000 --> 00:00:50,839 Sean Aylmer: of the large caps, losing more than two percent. Mind you, 16 00:00:50,960 --> 00:00:54,200 Sean Aylmer: it jumped four percent yesterday. Otherwise, the major banks did well. 17 00:00:54,440 --> 00:00:58,000 Sean Aylmer: Story number two. The International Montree Fund has released its 18 00:00:58,160 --> 00:01:01,760 Sean Aylmer: latest forecast for the global economy. It says the pace 19 00:01:01,880 --> 00:01:04,679 Sean Aylmer: of growth across the globe will drop to two point 20 00:01:04,720 --> 00:01:07,440 Sean Aylmer: eight percent this year from its previous forecast of three 21 00:01:07,440 --> 00:01:11,000 Sean Aylmer: point three percent. The downgrade in the US was from 22 00:01:11,080 --> 00:01:14,720 Sean Aylmer: two point seven percent to one point eight percent, a 23 00:01:14,840 --> 00:01:18,160 Sean Aylmer: much larger fall than what the IMF thinks will happen 24 00:01:18,200 --> 00:01:21,200 Sean Aylmer: in China. In other words, the biggest loser from tariffs, 25 00:01:21,240 --> 00:01:24,880 Sean Aylmer: according to the IMF, is the US. Story number three, 26 00:01:24,959 --> 00:01:28,920 Sean Aylmer: Santos's flagship five point eight billion dollar Barossa gas project 27 00:01:29,000 --> 00:01:31,720 Sean Aylmer: in the t or C has been granted its last 28 00:01:31,920 --> 00:01:35,320 Sean Aylmer: major regulatory approval, clearing the way for the offshore field 29 00:01:35,360 --> 00:01:38,759 Sean Aylmer: to finally begin full production within months. The Barossa project 30 00:01:38,800 --> 00:01:41,240 Sean Aylmer: has been a target for environmental groups because of its 31 00:01:41,319 --> 00:01:44,959 Sean Aylmer: high carbon footprint. According to the Finn Review, the Environmental 32 00:01:44,959 --> 00:01:49,000 Sean Aylmer: Defender's Office launched a controversial and ultimately unsuccessful court action 33 00:01:49,080 --> 00:01:52,240 Sean Aylmer: to have regulatory approvals for the development ruled void. Now, 34 00:01:52,240 --> 00:01:55,080 Sean Aylmer: the offshore oil and gas regulator, something called the National 35 00:01:55,120 --> 00:01:59,200 Sean Aylmer: Offshore Petroleum Safety and Environmental Management Authority, has now approved 36 00:01:59,240 --> 00:02:02,920 Sean Aylmer: a key permit allowing Santos to attach its processing vessel 37 00:02:02,960 --> 00:02:06,560 Sean Aylmer: and pipeline to the gas field. The final significant milestone 38 00:02:06,720 --> 00:02:10,440 Sean Aylmer: for the project. The six subsea wells located in a 39 00:02:10,440 --> 00:02:13,120 Sean Aylmer: field two hundred and eighty five kilometers northwest of Darwin 40 00:02:13,440 --> 00:02:16,560 Sean Aylmer: are expected to produce gas for twenty five years. The 41 00:02:16,600 --> 00:02:19,360 Sean Aylmer: gas will be transported through a pipeline to the Darwin 42 00:02:19,600 --> 00:02:23,800 Sean Aylmer: LNG plant, where the condensate will be exported via tanker straight. 43 00:02:23,840 --> 00:02:26,800 Sean Aylmer: Number four Woodside Energy, Australia's largest oil and gas producer, 44 00:02:26,919 --> 00:02:29,280 Sean Aylmer: reported a four percent drop in production from the March 45 00:02:29,360 --> 00:02:32,440 Sean Aylmer: quarter to forty nine point one million barrels of oil 46 00:02:32,480 --> 00:02:34,800 Sean Aylmer: equivalent now. That was due to bad weather at the 47 00:02:34,800 --> 00:02:38,960 Sean Aylmer: Northwest Shelf and unplanned outages at Pluto. The fall in 48 00:02:39,000 --> 00:02:42,440 Sean Aylmer: Australian assets were partially offset by a stronger performance at 49 00:02:42,480 --> 00:02:45,520 Sean Aylmer: its United States based gas fields, that's the Shenzi and 50 00:02:45,680 --> 00:02:49,120 Sean Aylmer: Atlantisk fields. They're both located off the coast of Louisiana 51 00:02:49,160 --> 00:02:52,799 Sean Aylmer: in the South. Quarterly revenue for Woodside fell five percent 52 00:02:52,840 --> 00:02:55,720 Sean Aylmer: from the previous quarter to about three point three billion dollars. 53 00:02:55,760 --> 00:02:59,520 Sean Aylmer: That was driven by lower output and softer oil linked pricing. However, 54 00:02:59,600 --> 00:03:01,880 Sean Aylmer: in a year on year basis, both production and revenue 55 00:03:01,960 --> 00:03:05,240 Sean Aylmer: was higher. CEO Mega o' neils said a customer demand 56 00:03:05,280 --> 00:03:08,320 Sean Aylmer: for Woodsides L and G remains robust and Finally, story 57 00:03:08,320 --> 00:03:11,280 Sean Aylmer: in number five, a bunch of corporate stories let's see 58 00:03:11,280 --> 00:03:13,600 Sean Aylmer: if we can get through the mall. Uranium minor Palade 59 00:03:13,600 --> 00:03:16,280 Sean Aylmer: and Energy was the ASX two hundred's best performer today, 60 00:03:16,360 --> 00:03:19,640 Sean Aylmer: jumping twenty five percent and lifting other uranium stocks after 61 00:03:19,680 --> 00:03:23,680 Sean Aylmer: its Langue Heindrich mine notched a record quarterly output result 62 00:03:24,160 --> 00:03:28,400 Sean Aylmer: even as major rainfall effaked operations. Telix Pharmaceuticals rose twelve 63 00:03:28,400 --> 00:03:31,000 Sean Aylmer: percent after reporting a more than sixty percent jump in 64 00:03:31,040 --> 00:03:33,400 Sean Aylmer: revenues that was driven by strong sales of its imaging 65 00:03:33,480 --> 00:03:37,640 Sean Aylmer: agent for men with prostate cancer. Retailer Cettire fell more 66 00:03:37,640 --> 00:03:40,880 Sean Aylmer: than twenty percent after reporting week demand from US customers 67 00:03:40,920 --> 00:03:43,840 Sean Aylmer: owing to the impact of US President Donald Trump's tariffs, 68 00:03:44,200 --> 00:03:47,720 Sean Aylmer: and West Australian gold miner Capricorn Metal sank eleven percent 69 00:03:48,240 --> 00:03:51,440 Sean Aylmer: after it stood down its chief executive, who's been charged 70 00:03:51,560 --> 00:03:55,760 Sean Aylmer: with aggravated assault. That's it for the afternoon report for Wednesday, 71 00:03:55,760 --> 00:03:58,000 Sean Aylmer: the twenty third of April twenty twenty five. Make sure 72 00:03:58,040 --> 00:04:00,320 Sean Aylmer: you hit follow on the podcast. We'll be back tomorrow 73 00:04:00,400 --> 00:04:03,000 Sean Aylmer: morning with the birthday edition of Beer and Greed Business News. 74 00:04:03,080 --> 00:04:05,040 Sean Aylmer: I'm Sean Aylmer. Enjoy your evening.