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Speaker 1: Welcome to the Fear and Greed Business News. The Afternoon

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Speaker 1: Report for Tuesday, the twenty ninth of April twenty twenty five.

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Speaker 1: I'm suan Alma. Every afternoon, we've got the five stories

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Speaker 1: that happened today that you need to know about. Story

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Speaker 1: number one, the S and PA six two hundred closed

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Speaker 1: at a two month high, say afternoon. Notwithstanding a pretty

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Speaker 1: ordinary night on Wall Street. The local Boss ended up

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Speaker 1: nearly one percent to eight thousand and so every one points.

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Speaker 1: That's four consecutive days of rises. It was a good

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Speaker 1: day for the tech stocks, with zero and Weis Tech

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Speaker 1: both outperforming. Also a good day for property companies. Goodman

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Speaker 1: and Mervak led the way there, but they're being mirverers again.

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Speaker 1: Were the uranium stocks up until early last week they'd

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Speaker 1: been sold off, but Boss Energy, Deep Yellow, and Paladin

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Speaker 1: Energy have gone on iran. All were up around ten

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Speaker 1: percent yesterday. Paladin is up more than forty percent in

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Speaker 1: five trading sessions. If only I knew that a week ago.

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Speaker 1: Story number two. Rio Tinto says it is uncertain whether

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Speaker 1: it can can continue to operate its Bell Bay aluminum

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Speaker 1: smelter after spending six years unsuccessfully negotiating a new Palace

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Speaker 1: apply agreement with the Tasmanian government. The company has eight

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Speaker 1: months before its existing deal with the state government's Hydro

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Speaker 1: Tasmania expires. According to the Finn Review, While REO Chief

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Speaker 1: executive yakubstouse Home has promised to work toward a viable

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Speaker 1: low carbon future for Rio's Forest Australation smelters, his patience

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Speaker 1: is definitely being tested with decisions on the future of

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Speaker 1: New South Wales to Margo Smelter and the Bell Bay

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Speaker 1: Smelter due this year. Aluminium smelters are Australia's biggest power consumers,

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Speaker 1: while Rio's Tomogo and Boyne smelters are largely powered by

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Speaker 1: fossil fuels. The low carbon hydroelectricity provided by the Tasmanian

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Speaker 1: government means the Bell Bay smelter already fits with Rio's

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Speaker 1: decarbonization agenda. Story number three beleague at iron ore and

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Speaker 1: lithium group. Mineral Resources has cut its guidance for the

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Speaker 1: red ore and is burning through, but investors today pushed

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Speaker 1: its share price up thirteen percent. Mineral Resources said net

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Speaker 1: debt had risen by three hundred million dollars to five

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Speaker 1: point four billion dollars. Its market cap is just four

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Speaker 1: point one billion dollars. Therefore, it owes a lot more

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Speaker 1: than it's worth. Mind Jim, it has tumbled this stock.

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Speaker 1: It's about worth about a quarter of what it was

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Speaker 1: a year ago. Now. The Australian Securities and Investments Commission

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Speaker 1: is investigating the allegations against Mineral Resources and its CEO

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Speaker 1: Chris Ellison, who remains the diversified miners managing director and

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Speaker 1: biggest shareholder with an eleven point five percent stake. Ellison

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Speaker 1: has pleaged to quit by midnext year, and Chair James

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Speaker 1: McClements will depart in coming weeks. Notwithstanding all that, the

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Speaker 1: share price surge today when those results came in and

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Speaker 1: weren't quite as poor as expected story number five in

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Speaker 1: Corporate News. Northern Star Resources share price fell five percent

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Speaker 1: today after downgrading its full year gold output guidance. Mind you,

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Speaker 1: it's still up nearly thirty percent this year and white

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Speaker 1: having coal raise five percent as investors pretty much dismissed

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Speaker 1: before and its quarterly production and sales owing to seasonal

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Speaker 1: weather impacts on its Queensland mine and slower than planned

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Speaker 1: progress at Narrambria in New South Wales and Finally story

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Speaker 1: at number five. Prime Minister Mark Carney's Liberal Party won

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Speaker 1: Canada's federal election this morning, capping a pretty incredible turnaround

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Speaker 1: in fortunes fueled by Donald Trump's annexation threats in trade

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Speaker 1: war after Pole's closed. The Liberals were projected to win

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Speaker 1: more of the parliament's three hundred and forty three seats

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Speaker 1: than the Conservative Party, though it wasn't immediately clear if

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Speaker 1: they would win an outright majority or have to rely

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Speaker 1: on one or small smaller parties to form a government

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Speaker 1: and pass legislation. The Liberals looked headed for a crushing

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Speaker 1: defeat until the American President started attacking Canada's economy, threatening

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Speaker 1: its sovereignty. In fact, he suggested it should become the

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Speaker 1: fifty first state. That's all. According to Reuters, Mark Carney's

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Speaker 1: Liberal Party did an incredible turnaround the Poles and they

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Speaker 1: are going in for their fourth term. That's it for

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Speaker 1: the Afternoon Report for Tuesday, the twenty ninth of April

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Speaker 1: twenty twenty five. Make sure you follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the Wednesday edition

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Speaker 1: of Fear and Greed Business News. I'm Seanelma. Enjoy your evening,