1 00:00:04,080 --> 00:00:07,160 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,240 --> 00:00:10,160 Speaker 1: for Wednesday, the twenty second of October twenty twenty five. 3 00:00:10,280 --> 00:00:13,200 Speaker 1: Are Michael Thompson. Every afternoon, We've got the five stories 4 00:00:13,240 --> 00:00:15,240 Speaker 1: that happened today that you need to know about. Let's 5 00:00:15,240 --> 00:00:17,400 Speaker 1: go starting number one. The S and p ASX two 6 00:00:17,520 --> 00:00:21,000 Speaker 1: hundred fell zero point seven percent today to close at 7 00:00:21,160 --> 00:00:24,120 Speaker 1: nine thousand and thirty points. It hit a record yesterday, 8 00:00:24,239 --> 00:00:27,320 Speaker 1: not doing the same today, pulled down by a major 9 00:00:27,360 --> 00:00:29,200 Speaker 1: slump in the gold price. We'll have more on that 10 00:00:29,240 --> 00:00:31,440 Speaker 1: one in a moment. But it wasn't just the gold 11 00:00:31,480 --> 00:00:34,840 Speaker 1: miners having a shock at today. Rare Earth's mineers tumbled 12 00:00:35,040 --> 00:00:38,240 Speaker 1: just a day after Donald Trump and Anthony Albanezi signed 13 00:00:38,240 --> 00:00:42,239 Speaker 1: a critical Minerals and rare Earths deal worth billions. Our 14 00:00:42,400 --> 00:00:45,800 Speaker 1: Fura was off thirteen and a half percent, Australian Strategic 15 00:00:45,920 --> 00:00:49,720 Speaker 1: Minerals almost twelve percent, Australian rare Earth's eleven percent. There's 16 00:00:49,760 --> 00:00:52,920 Speaker 1: better news from oil and gas. Giant Woodside mcclimbed three 17 00:00:52,960 --> 00:00:56,360 Speaker 1: and a half percent after an increase in quarterly production 18 00:00:56,920 --> 00:01:01,880 Speaker 1: a whopping fifty point eight millions of oil. A few 19 00:01:01,920 --> 00:01:05,240 Speaker 1: other bits and pieces around four d Medical jumped almost 20 00:01:05,280 --> 00:01:09,040 Speaker 1: three percent after securing its first commercial deployment of its 21 00:01:09,080 --> 00:01:14,560 Speaker 1: respiratory imaging technology. Online. Luxury retailer Setire dropped two point 22 00:01:14,600 --> 00:01:18,120 Speaker 1: one percent after announcing an eighteen percent lift in revenue 23 00:01:18,120 --> 00:01:22,160 Speaker 1: outside the US in the September quarter. Overall sales revenue, though, 24 00:01:22,560 --> 00:01:26,800 Speaker 1: shrank three percent, largely thanks to the US tariffs. Homewares 25 00:01:26,840 --> 00:01:30,240 Speaker 1: Group Adares had a great date surge eight percent today 26 00:01:30,280 --> 00:01:34,399 Speaker 1: despite slightly downgrading its sales forecast, and Air New Zealand 27 00:01:34,400 --> 00:01:37,319 Speaker 1: fell after saying it expected a bigger loss in the 28 00:01:37,480 --> 00:01:41,120 Speaker 1: current half year. Onto story number two, and it is 29 00:01:41,160 --> 00:01:44,800 Speaker 1: all about gold. The record breaking rally in the price 30 00:01:45,000 --> 00:01:48,040 Speaker 1: of gold has come to a sudden halt, you'd say, 31 00:01:48,080 --> 00:01:51,120 Speaker 1: with prices plunging more than six percent in their biggest 32 00:01:51,120 --> 00:01:55,120 Speaker 1: one day fall since twenty thirteen. The selloff overnight continued today, 33 00:01:55,200 --> 00:01:58,040 Speaker 1: sending the spot price as low as four thousand and 34 00:01:58,240 --> 00:02:01,800 Speaker 1: four US dollars an ounce before recovering to four one 35 00:02:01,920 --> 00:02:06,280 Speaker 1: hundred and thirty eight. The drop has really smashed a 36 00:02:06,320 --> 00:02:09,360 Speaker 1: wave of new retail investors. Everyone wanted in on the 37 00:02:09,440 --> 00:02:11,680 Speaker 1: stunning climb in the price of the precious metal. We've 38 00:02:11,680 --> 00:02:14,760 Speaker 1: been talking about it for so long ASX listed gold 39 00:02:14,800 --> 00:02:20,200 Speaker 1: miners have been hammered. Today Neumont, Evolution, Bellevue Gold, Romeilias Resources, 40 00:02:20,200 --> 00:02:23,840 Speaker 1: Genesis Minerals, all of them down around ten percent. Analysts 41 00:02:23,840 --> 00:02:27,519 Speaker 1: say the pullback was inevitable, and City now expects gold 42 00:02:27,600 --> 00:02:30,720 Speaker 1: to stabilize around four thousand US dollars. Announces the US 43 00:02:30,960 --> 00:02:35,000 Speaker 1: government shutdown ends and trade tensions ease. There is a 44 00:02:35,000 --> 00:02:36,720 Speaker 1: lot to this and we will have a lot more 45 00:02:36,840 --> 00:02:40,200 Speaker 1: on it in tomorrow morning's episode under story number three. 46 00:02:40,240 --> 00:02:44,480 Speaker 1: Now in Sigma Healthcare says Chemist Warehouse sales jumped seventeen 47 00:02:44,520 --> 00:02:47,800 Speaker 1: point nine percent in the September quarter, fueled by surging 48 00:02:47,840 --> 00:02:51,440 Speaker 1: demand for weight loss drugs like a Zenpic. Chief executive 49 00:02:51,560 --> 00:02:55,000 Speaker 1: vikesh Ramsunder told shareholders today that the strong start to 50 00:02:55,120 --> 00:03:00,320 Speaker 1: FY twenty six reflected a stronger contribution from GLP one sale. Now, 51 00:03:00,320 --> 00:03:04,320 Speaker 1: this was the company's first AGM since Chemist Warehouses reverse 52 00:03:04,400 --> 00:03:08,320 Speaker 1: takeover of Sigma Sigma Shares Bros. Zero point seven percent 53 00:03:08,360 --> 00:03:11,840 Speaker 1: Today onto story number four, and we've been talking about 54 00:03:11,880 --> 00:03:15,440 Speaker 1: it for a very long time, but after fifteen months 55 00:03:15,480 --> 00:03:19,960 Speaker 1: in administration, Regional Airline Rex has officially found a buyer. 56 00:03:20,400 --> 00:03:25,560 Speaker 1: EY has now confirmed US aviation company AIRT will acquire 57 00:03:25,639 --> 00:03:28,560 Speaker 1: the carrier and its Ballarat training school in a deal 58 00:03:28,600 --> 00:03:31,960 Speaker 1: supported by the federal government. EY says the transaction will 59 00:03:32,000 --> 00:03:35,960 Speaker 1: keep Rex flying will preserve jobs. AIRT plans to fund 60 00:03:36,040 --> 00:03:39,600 Speaker 1: Rex's engine renewal program and return its full fleet of 61 00:03:39,720 --> 00:03:43,600 Speaker 1: SABA three forties to service. Transport Minister Catherine King has 62 00:03:43,640 --> 00:03:46,960 Speaker 1: welcomed the deal, saying it will secure critical regional airlinks. 63 00:03:47,280 --> 00:03:50,000 Speaker 1: Creditors are due to vote on the sale later this week. 64 00:03:50,480 --> 00:03:54,240 Speaker 1: And finally, story number five, planned peace talks between Donald 65 00:03:54,280 --> 00:03:58,080 Speaker 1: Trump and Vladimir Putin in Budapest have been scrapped after 66 00:03:58,160 --> 00:04:02,880 Speaker 1: Moscow accused Washington of tracking on a ceasefire proposal. Russia 67 00:04:03,040 --> 00:04:06,440 Speaker 1: rejected Trump's call for an immediate halt to fighting along 68 00:04:06,600 --> 00:04:11,560 Speaker 1: current frontlines, calling it a betrayal of earlier agreements. The 69 00:04:11,720 --> 00:04:16,919 Speaker 1: collapse comes amid growing frustration in Ukraine after Trump refused 70 00:04:17,040 --> 00:04:21,080 Speaker 1: to supply Kiv with Tomahawk missiles. European leaders have backed 71 00:04:21,120 --> 00:04:23,839 Speaker 1: Trump's demand for a ceasefire, but want tougher sanctions to 72 00:04:23,839 --> 00:04:27,520 Speaker 1: pressure Moscow into what had been described as genuine talks. 73 00:04:27,920 --> 00:04:30,480 Speaker 1: That's it for the Afternoon report for Wednesday, the twenty 74 00:04:30,560 --> 00:04:33,440 Speaker 1: second of October twenty twenty five. Make sure you hit 75 00:04:33,480 --> 00:04:36,520 Speaker 1: follow on the podcast and head along to Fearangreed dot 76 00:04:36,560 --> 00:04:40,400 Speaker 1: com dot au. Sign up for our free daily newsletter. 77 00:04:40,440 --> 00:04:42,440 Speaker 1: I'll put a link in today's show notes, and for 78 00:04:42,480 --> 00:04:44,680 Speaker 1: a limited time you have a chance to win a 79 00:04:45,200 --> 00:04:48,680 Speaker 1: very exclusive Fear and Greed merchandise pack. I'm Michael Thompson. 80 00:04:48,960 --> 00:04:49,679 Speaker 1: Enjoy your evening.