1 00:00:03,560 --> 00:00:06,520 Speaker 1: Welcome to the Fear and Greed Afternoon Report for Thursday 2 00:00:06,559 --> 00:00:09,239 Speaker 1: of the twenty third of October twenty twenty five. I'm 3 00:00:09,240 --> 00:00:12,280 Speaker 1: Michael Thompson, and every afternoon we've got five stories that 4 00:00:12,320 --> 00:00:14,800 Speaker 1: you need to know. This is business news. You can 5 00:00:14,960 --> 00:00:18,120 Speaker 1: use story number one. The SMPA is Sex two hundred 6 00:00:18,160 --> 00:00:21,400 Speaker 1: closed higher today, not by much though, just zero point 7 00:00:21,440 --> 00:00:25,520 Speaker 1: one percent to nine thousand and thirty three points. Six 8 00:00:25,640 --> 00:00:29,400 Speaker 1: of eleven sectors gained ground, led by Energy, which benefited 9 00:00:29,440 --> 00:00:32,000 Speaker 1: from a spike in oil prices. A bit more on 10 00:00:32,040 --> 00:00:35,479 Speaker 1: that one later, Santos climbed two point two percent and 11 00:00:35,520 --> 00:00:38,360 Speaker 1: Woodside jumped four point three percent, though that was also 12 00:00:38,440 --> 00:00:40,880 Speaker 1: due to a partnership it signed with a gas infrastructure 13 00:00:40,880 --> 00:00:44,360 Speaker 1: company in the US. Tech stocks were down, with Zero 14 00:00:44,560 --> 00:00:47,080 Speaker 1: off two and a half percent by now Pay. Later 15 00:00:47,240 --> 00:00:50,879 Speaker 1: company Zip down about the same, and Wistech Global was 16 00:00:50,960 --> 00:00:54,200 Speaker 1: off about one and a half percent. That all followed 17 00:00:54,200 --> 00:00:57,520 Speaker 1: an ordinary leading from tech stocks on Wall Street overnight, 18 00:00:57,600 --> 00:01:01,560 Speaker 1: chiefly Netflix, which tumbled ten percent. Apple was down as well. 19 00:01:01,840 --> 00:01:05,240 Speaker 1: The gold price fell a little more today after yesterday's 20 00:01:05,319 --> 00:01:08,880 Speaker 1: huge selloff, but both Northern Star and Regis Resources gained 21 00:01:08,880 --> 00:01:12,280 Speaker 1: around two percent on some solid quarterly reports. A fair 22 00:01:12,319 --> 00:01:15,440 Speaker 1: bit of corporate news around today. Actually, poker machine manufacturer 23 00:01:15,480 --> 00:01:19,880 Speaker 1: Ainsworth Game Technology jumped four percent after it confirmed it 24 00:01:19,920 --> 00:01:24,440 Speaker 1: has received a partial takeover offer from its second largest shareholder, 25 00:01:24,720 --> 00:01:28,240 Speaker 1: who is also the son of founder Lenn Ainsworth. Forts 26 00:01:28,280 --> 00:01:31,720 Speaker 1: QW Metals Group said it has recorded a jump in 27 00:01:31,840 --> 00:01:35,280 Speaker 1: first quarter iron ore shipments. Its share price climbed two 28 00:01:35,319 --> 00:01:39,360 Speaker 1: point four percent today, and IAG Insurer rose one point 29 00:01:39,520 --> 00:01:43,280 Speaker 1: four percent after it upgraded its twenty twenty six fiscal 30 00:01:43,360 --> 00:01:48,640 Speaker 1: year earnings guidance following the completion of its RACQ Insurance acquisition. 31 00:01:49,440 --> 00:01:51,440 Speaker 1: Onto story number two now and we are in the 32 00:01:51,480 --> 00:01:55,960 Speaker 1: middle of AGM season and one today was ASX Limited, 33 00:01:56,240 --> 00:02:00,320 Speaker 1: where chaired David Clark called it a difficult year. I 34 00:02:00,440 --> 00:02:04,480 Speaker 1: reckon for my money. That's an understatement. Both ASSEK and 35 00:02:04,520 --> 00:02:08,680 Speaker 1: the RBA are inquiring into ASX limited operations after an 36 00:02:08,680 --> 00:02:12,480 Speaker 1: equity market outage late last year. It has not been 37 00:02:12,639 --> 00:02:15,480 Speaker 1: an easy year. The board of the underfire operator of 38 00:02:15,520 --> 00:02:19,400 Speaker 1: the Securities Exchange just avoided a second strike. There was 39 00:02:19,440 --> 00:02:22,359 Speaker 1: another one today. Perpetual also held its AGM. It too 40 00:02:22,400 --> 00:02:24,920 Speaker 1: avoided a second strike. The big issue at Perpetual is 41 00:02:24,960 --> 00:02:28,440 Speaker 1: the progress or otherwise in the sale of its wealth 42 00:02:28,480 --> 00:02:32,920 Speaker 1: management business, and Brambles reaffirmed its full year guidance at 43 00:02:33,000 --> 00:02:36,799 Speaker 1: its AGM. Shareholders at Brambles are somewhat happier than many 44 00:02:36,880 --> 00:02:40,040 Speaker 1: other places, with the palette maker's share price up thirty 45 00:02:40,080 --> 00:02:42,880 Speaker 1: four percent over the past year. I think that's grounds 46 00:02:42,880 --> 00:02:46,800 Speaker 1: to be reasonably happy. Story number three. Liberal MP Andrew 47 00:02:46,840 --> 00:02:50,519 Speaker 1: Hasty has broken ranks with his coalition colleagues, which he 48 00:02:50,520 --> 00:02:53,040 Speaker 1: has a tendency to do these days, saying that he 49 00:02:53,120 --> 00:02:57,400 Speaker 1: believes US President Donald Trump did know who Kevin Rudd 50 00:02:57,480 --> 00:03:00,000 Speaker 1: was during this week's White House meeting and was simply 51 00:03:00,160 --> 00:03:02,040 Speaker 1: putting on a show. It is a bit of a 52 00:03:02,080 --> 00:03:05,959 Speaker 1: split from Opposition leader Susan Lee, who suggested previously that 53 00:03:06,040 --> 00:03:09,119 Speaker 1: Kevin Rudd should be removed from the position of ambassador 54 00:03:09,400 --> 00:03:13,120 Speaker 1: as it was untenable, particularly not being known by the President. 55 00:03:13,560 --> 00:03:17,760 Speaker 1: Mister Hasty, who did quit the Shadow Ministry recently over 56 00:03:17,800 --> 00:03:21,240 Speaker 1: a split on a number of policies, particularly immigration, told 57 00:03:21,440 --> 00:03:25,200 Speaker 1: to gb Today that mister Trump was quote doing good 58 00:03:25,200 --> 00:03:29,600 Speaker 1: reality TV when he mocked Australia's ambassador. Hasty said he 59 00:03:29,720 --> 00:03:32,200 Speaker 1: humiliated Rudd, but Rudd copped it on the chin for 60 00:03:32,240 --> 00:03:34,800 Speaker 1: the country. We got the deal, and we move on. 61 00:03:35,360 --> 00:03:39,000 Speaker 1: The remarks do undercut those opposition calls for Rudd's removal. 62 00:03:39,480 --> 00:03:41,680 Speaker 1: Hopefully this might be the last we hear of this 63 00:03:41,720 --> 00:03:45,000 Speaker 1: one for a little while. Story number four, the historic 64 00:03:45,120 --> 00:03:48,120 Speaker 1: East Wing of the White House is being demolished to 65 00:03:48,160 --> 00:03:51,120 Speaker 1: make way for Donald Trump's new three hundred million dollar ballroom. 66 00:03:51,160 --> 00:03:56,160 Speaker 1: Despite earlier assurances the building would be preserved, bulldozers began 67 00:03:56,320 --> 00:03:58,920 Speaker 1: tearing down the structure earlier this week. In fact, the 68 00:03:58,960 --> 00:04:01,920 Speaker 1: work was taking place on the east wing as Anthony 69 00:04:01,920 --> 00:04:04,520 Speaker 1: Albanezi was meeting with Donald Trump in the west wing. 70 00:04:05,080 --> 00:04:08,320 Speaker 1: Trump has defended the decision, saying the east wing quote 71 00:04:08,360 --> 00:04:11,880 Speaker 1: wasn't much, and the new ballroom was paid for one 72 00:04:12,000 --> 00:04:14,920 Speaker 1: hundred percent by me and some friends, and it will be, 73 00:04:14,960 --> 00:04:19,000 Speaker 1: another quote, one of the great ballrooms anywhere in the world. 74 00:04:19,400 --> 00:04:22,680 Speaker 1: Historians and preservationists have condemned the move, warning that the 75 00:04:22,800 --> 00:04:27,320 Speaker 1: addition will overwhelm the White House's classical design. Donald Trump 76 00:04:27,360 --> 00:04:30,640 Speaker 1: has already made some significant changes to the White House, 77 00:04:30,640 --> 00:04:33,599 Speaker 1: having paved over the Rose Garden and added some gold 78 00:04:33,640 --> 00:04:37,159 Speaker 1: trimmings to the Oval office. And finally, story number five, 79 00:04:37,360 --> 00:04:41,080 Speaker 1: a serious one where the US has hit Russia's two 80 00:04:41,320 --> 00:04:45,680 Speaker 1: biggest oil companies with fresh sanctions, accusing Moscow of refusing 81 00:04:45,720 --> 00:04:48,920 Speaker 1: to end its war in Ukraine. It is the first 82 00:04:48,960 --> 00:04:52,119 Speaker 1: time that the US has sanctioned Russia since Donald Trump 83 00:04:52,160 --> 00:04:55,359 Speaker 1: returned to the White House in January. The move comes 84 00:04:55,360 --> 00:04:58,600 Speaker 1: a day after the President scrapped plans for peace talks 85 00:04:58,600 --> 00:05:02,640 Speaker 1: with Vladimir Putin. Treasury Secretary Scott Bessent said the sanctions 86 00:05:02,680 --> 00:05:06,279 Speaker 1: were aimed at degrading Putin's war chest, and he urged 87 00:05:06,320 --> 00:05:10,680 Speaker 1: allies to follow suit. I mentioned earlier in the episode 88 00:05:10,720 --> 00:05:13,520 Speaker 1: that oil price has climbed. They jumped more than two 89 00:05:13,680 --> 00:05:16,240 Speaker 1: US dollars a barrel on the news now. At the 90 00:05:16,279 --> 00:05:20,320 Speaker 1: same time, Putin has overseen a test of Russia's nuclear forces, 91 00:05:20,360 --> 00:05:24,000 Speaker 1: including the launch of a number of nuclear capable missiles. 92 00:05:24,320 --> 00:05:26,799 Speaker 1: That's it for the Afternoon Report for Thursday, the twenty 93 00:05:26,880 --> 00:05:29,400 Speaker 1: third of October twenty twenty five. Make sure you hit 94 00:05:29,480 --> 00:05:32,360 Speaker 1: follow on the podcast and sign up for our free 95 00:05:32,480 --> 00:05:36,040 Speaker 1: daily newsletter for your chance to win an exclusive merchandise 96 00:05:36,120 --> 00:05:38,000 Speaker 1: pack head along to Fear and Greed dot Com. Today 97 00:05:38,080 --> 00:05:40,240 Speaker 1: you I'm Michael Thompson. Enjoy your evening.