1 00:00:03,680 --> 00:00:07,040 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report, Paul, Wednesday, 2 00:00:06,920 --> 00:00:09,360 Speaker 1: the fourth of June twenty twenty five. I'm sure, Alma, 3 00:00:09,720 --> 00:00:12,039 Speaker 1: every afternoon We've got the five stories that happened today 4 00:00:12,039 --> 00:00:13,560 Speaker 1: that you need to know about story and I'm more. 5 00:00:13,560 --> 00:00:16,800 Speaker 1: I'm the Commewell Bank get a new record today, pushing 6 00:00:16,800 --> 00:00:19,920 Speaker 1: the value of the company beyond three hundred million dollars 7 00:00:19,920 --> 00:00:22,720 Speaker 1: for the first time. It was the standout stock on 8 00:00:22,760 --> 00:00:25,200 Speaker 1: a pretty good day for the boss, with the SMPASX 9 00:00:25,239 --> 00:00:28,319 Speaker 1: two hundred hosing up nearly one percent to eighty five 10 00:00:28,400 --> 00:00:31,920 Speaker 1: hundred and forty two points. That's just fourteen points behind 11 00:00:32,040 --> 00:00:36,479 Speaker 1: the all time high of February. Energy, consumer discretionary, and 12 00:00:36,520 --> 00:00:39,720 Speaker 1: financials did best today, while consumer staples did worst of 13 00:00:39,760 --> 00:00:42,519 Speaker 1: the eleven sectors on the ASX two hundred. Best in 14 00:00:42,560 --> 00:00:45,159 Speaker 1: the day by now Pay Later group Zipco it was 15 00:00:45,240 --> 00:00:48,519 Speaker 1: up fourteen percent, worst of the top two hundred. New 16 00:00:48,560 --> 00:00:52,360 Speaker 1: farm it fell more than five percent. Meanwhile, strong jobs 17 00:00:52,440 --> 00:00:55,240 Speaker 1: data in the US boosted commodity prices, which helped a 18 00:00:55,240 --> 00:00:58,360 Speaker 1: bunch of minors. Higher metal prices help push PHP in 19 00:00:58,400 --> 00:01:01,320 Speaker 1: FORTESQ Metals. Higher prices are on the rise that helped 20 00:01:01,320 --> 00:01:04,000 Speaker 1: Wood sign in Santas and the local uranium stocks Alcala 21 00:01:04,080 --> 00:01:06,720 Speaker 1: and South thirty two did well. That came after Donald 22 00:01:06,720 --> 00:01:10,320 Speaker 1: Trump pushed ahead with fifty percent steel and aluminum tariffs. 23 00:01:10,560 --> 00:01:12,759 Speaker 1: Mind you, there is a carve out for UK steel 24 00:01:12,760 --> 00:01:14,920 Speaker 1: and our minium. All that came as figures from the 25 00:01:14,959 --> 00:01:18,800 Speaker 1: Bureau of Statistics shows the Australian economy grew by just 26 00:01:19,000 --> 00:01:21,640 Speaker 1: zero point two percent in the March quarter, very disappointing, 27 00:01:21,680 --> 00:01:24,280 Speaker 1: taking the annual rate to one point three percent. Sorry 28 00:01:24,400 --> 00:01:27,960 Speaker 1: number two. The new Federal Parliament won't sit until late 29 00:01:28,000 --> 00:01:30,760 Speaker 1: next month, but there's plenty going on in politics, including 30 00:01:30,760 --> 00:01:35,199 Speaker 1: plans for European Commission President Ursula von Delayan to visit 31 00:01:35,240 --> 00:01:37,760 Speaker 1: Australia Trade minutes to Don Farrell is in Paris this 32 00:01:37,800 --> 00:01:40,080 Speaker 1: week for his first face to face talks with the 33 00:01:40,120 --> 00:01:44,200 Speaker 1: Europeans since negotiations collapsed in October twenty twenty three. According 34 00:01:44,240 --> 00:01:47,000 Speaker 1: to the fin Review, he told the news organization that 35 00:01:47,040 --> 00:01:49,240 Speaker 1: the world has changed and Europe and Australia need to 36 00:01:49,240 --> 00:01:52,160 Speaker 1: be the adults in the room. Wonder Layan has mooted 37 00:01:52,200 --> 00:01:55,200 Speaker 1: a visit in either late July or early August in 38 00:01:55,280 --> 00:01:58,200 Speaker 1: anticipation of signing a deal should one be reached by then. 39 00:01:58,360 --> 00:02:02,080 Speaker 1: Farrell also met with his US counterpart, Jefferson Grier. He 40 00:02:02,200 --> 00:02:05,840 Speaker 1: said that because Trump's tariff on Australia is only ten percent, 41 00:02:06,160 --> 00:02:09,120 Speaker 1: the US hasn't sent Australia a letter asking for the 42 00:02:09,120 --> 00:02:12,600 Speaker 1: best offer pro trade deal Straight number three. The final 43 00:02:12,760 --> 00:02:15,840 Speaker 1: undeclared seat in the federal election will go to at Teel, 44 00:02:16,360 --> 00:02:19,200 Speaker 1: meaning yet another loss for the Liberals. The Sydney North 45 00:02:19,200 --> 00:02:23,000 Speaker 1: Shore seat of Bradfield was declared today. The Australian Electoral 46 00:02:23,000 --> 00:02:26,480 Speaker 1: Commission says Nicola Ole has won the once Blue Ribbon 47 00:02:26,520 --> 00:02:30,959 Speaker 1: seat after a recount, beating Liberal candidate Giselle Capterian by 48 00:02:31,080 --> 00:02:33,600 Speaker 1: just twenty six votes in one of the tightest elections 49 00:02:33,639 --> 00:02:37,239 Speaker 1: in history. So the next Parliament at this point will 50 00:02:37,240 --> 00:02:41,320 Speaker 1: include ninety four Labor MPs, forty three coalition MPs, one 51 00:02:41,320 --> 00:02:44,440 Speaker 1: each from the Greens, the Center Alliance and Catters Australian Party, 52 00:02:44,880 --> 00:02:48,040 Speaker 1: and ten independents Austraight number four. In corporate news today, 53 00:02:48,040 --> 00:02:52,200 Speaker 1: the corporate Regulator is suing Westpac subsidiary Rams Asset claims 54 00:02:52,440 --> 00:02:56,120 Speaker 1: that Ram's homelands fail to properly supervise franchisees. Some of 55 00:02:56,160 --> 00:03:00,400 Speaker 1: whom submitted false pacelips from fake employers and changed borrower 56 00:03:00,560 --> 00:03:03,480 Speaker 1: expense calculations to get loans over the line. And US 57 00:03:03,480 --> 00:03:07,000 Speaker 1: pharmaceutical giant Cosette has told Maine Farmer it will terminate 58 00:03:07,080 --> 00:03:09,560 Speaker 1: its six hundred and seventy two million dollar take over 59 00:03:09,560 --> 00:03:12,000 Speaker 1: a bid for the Adelaide based drug company. Maine Farmer 60 00:03:12,040 --> 00:03:15,000 Speaker 1: shares felled last month after Casette raised concerns the target 61 00:03:15,040 --> 00:03:18,480 Speaker 1: had issued weaker than expected earnings guidance and disclosed a 62 00:03:18,560 --> 00:03:21,760 Speaker 1: possible US regulatory issue with one of its key products. Finally, 63 00:03:21,800 --> 00:03:24,480 Speaker 1: straight number fire. The Dutch government has collapsed, most likely 64 00:03:24,560 --> 00:03:28,840 Speaker 1: ushering in a snap election, after anti Muslim politician Gert 65 00:03:29,120 --> 00:03:32,560 Speaker 1: Wilders quit the right wing coalition, accusing other parties of 66 00:03:32,560 --> 00:03:35,880 Speaker 1: failing to back his tougher immigration policies. But Prime Minister 67 00:03:36,160 --> 00:03:40,600 Speaker 1: Dick Schuff, an independent, accused the political maverick of irresponsibility 68 00:03:40,920 --> 00:03:44,280 Speaker 1: and the other coalition parties denied failing to support Wilders. 69 00:03:44,320 --> 00:03:48,040 Speaker 1: According to Reuter's, ministers in the cabinet from Gertz's PVV 70 00:03:48,200 --> 00:03:50,920 Speaker 1: party will also quit, leaving the others to continue as 71 00:03:50,960 --> 00:03:54,680 Speaker 1: a caretaker administration until an election unlikely to be held 72 00:03:54,720 --> 00:03:57,800 Speaker 1: before October frustration with migration and the high cost of 73 00:03:57,840 --> 00:04:01,080 Speaker 1: living is boosting the far right and widening divisions in Europe, 74 00:04:01,360 --> 00:04:03,640 Speaker 1: just as it deals with the hostile Russia in an 75 00:04:03,720 --> 00:04:07,600 Speaker 1: unpredictable and combative US president in Donald Trump. That's it 76 00:04:07,680 --> 00:04:09,839 Speaker 1: for the Afternoon Report for Wednesday, the fourth of June 77 00:04:09,880 --> 00:04:11,720 Speaker 1: twenty twenty five. Make sure you hit the follow on 78 00:04:11,720 --> 00:04:13,640 Speaker 1: the podcast. We will be back to our own morning 79 00:04:13,680 --> 00:04:15,840 Speaker 1: with a Thursday edition of Fear and Greed business new news. 80 00:04:15,920 --> 00:04:17,680 Speaker 1: I'm sure Elma enjoy your evening.