1 00:00:04,080 --> 00:00:06,720 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,960 --> 00:00:09,200 Speaker 1: for Monday, the second of June twenty twenty five on 3 00:00:09,320 --> 00:00:12,200 Speaker 1: Shaan Almer. Every afternoon, we've got the five stories have 4 00:00:12,240 --> 00:00:14,400 Speaker 1: happened today that you need to know about. Storying them one. 5 00:00:14,440 --> 00:00:17,960 Speaker 1: The SMPASX two hundred closed down zero point two percent 6 00:00:18,000 --> 00:00:21,040 Speaker 1: today to eighty four hundred and fourteen points. There's a 7 00:00:21,079 --> 00:00:23,600 Speaker 1: pretty poor session, with energy stocks leading the way lower. 8 00:00:23,960 --> 00:00:27,120 Speaker 1: They had plenty of friends. Westpac and National Australia Bank 9 00:00:27,200 --> 00:00:30,000 Speaker 1: both fell one percent, as did the Quarry Group. Fort Es, 10 00:00:30,040 --> 00:00:31,920 Speaker 1: qu Metals Group and Rare were both down more than 11 00:00:31,920 --> 00:00:34,640 Speaker 1: two percent, while BHP was off one point two percent. 12 00:00:34,720 --> 00:00:38,199 Speaker 1: The best performers were the steady stocks less dependent on 13 00:00:38,320 --> 00:00:42,760 Speaker 1: economic conditions. Companies like Telstra, Transurban, Woollis and Coles Zero, 14 00:00:42,960 --> 00:00:46,320 Speaker 1: Brambles and QBA Insurance were among the best performers. In 15 00:00:46,320 --> 00:00:50,400 Speaker 1: corporate news, James Hardy rose after securing new debt totaling 16 00:00:50,440 --> 00:00:53,440 Speaker 1: three and a half billion dollars with broad support including 17 00:00:53,600 --> 00:00:57,360 Speaker 1: thirty participating banks, to contribute to its takeover of Azek. 18 00:00:57,840 --> 00:01:00,880 Speaker 1: Perpetual jumped after the finn Review reported a Baying Capital 19 00:01:01,480 --> 00:01:04,080 Speaker 1: had made a first round bid for the group's five 20 00:01:04,160 --> 00:01:07,560 Speaker 1: hundred million dollar Oddit wealth management business, and Eager's Automotive 21 00:01:07,720 --> 00:01:11,200 Speaker 1: is extending its share buy back for a further twelve months. 22 00:01:11,360 --> 00:01:14,560 Speaker 1: Sorry number two. Prime Minister Anthony Alberizi says he's considering 23 00:01:14,600 --> 00:01:19,080 Speaker 1: introducing low and zero interest loans to assist farmers through 24 00:01:19,120 --> 00:01:22,080 Speaker 1: the drought. The Prime Minister said the nation is seeing 25 00:01:22,240 --> 00:01:25,959 Speaker 1: more extreme weather events of different varieties and the government 26 00:01:26,000 --> 00:01:28,960 Speaker 1: is working with farmer groups to address the challenges. He 27 00:01:29,080 --> 00:01:31,640 Speaker 1: said there are already some provisions for loans and the 28 00:01:31,680 --> 00:01:34,640 Speaker 1: government's considering more. There's also more money for the Rural 29 00:01:34,720 --> 00:01:39,000 Speaker 1: Financial Counseling Service to assist farmers through the challenging period. 30 00:01:39,360 --> 00:01:42,679 Speaker 1: Straight number three. One company who doesn't mind a hike 31 00:01:42,760 --> 00:01:46,279 Speaker 1: in tariffs from the US is Bluescope Steel. It owns 32 00:01:46,319 --> 00:01:49,120 Speaker 1: a big meal in Ohio and could well be a 33 00:01:49,160 --> 00:01:51,880 Speaker 1: winner from Donald Trump's announcement over the weekend to lift 34 00:01:52,040 --> 00:01:55,600 Speaker 1: tariffs on steel and aluminum to fifty percent. Bluescope's US 35 00:01:55,680 --> 00:01:59,520 Speaker 1: operations supply automotive, white goods, and agricultural industries in total 36 00:01:59,560 --> 00:02:02,400 Speaker 1: about three million tons of steel a year. That's about 37 00:02:02,400 --> 00:02:04,960 Speaker 1: ten times the output of its port Kemblo operation in 38 00:02:04,960 --> 00:02:08,080 Speaker 1: New South Wales. Its share price jumped five percent today. 39 00:02:08,440 --> 00:02:10,480 Speaker 1: Story number four. One of the big debates at the 40 00:02:10,520 --> 00:02:14,240 Speaker 1: moment in financial markets is whether the US would ever default, 41 00:02:14,680 --> 00:02:18,000 Speaker 1: given the multi trillion dollar legislation Donald Trump is trying 42 00:02:18,000 --> 00:02:21,320 Speaker 1: to push through. It's always been a theoretical possibility, but 43 00:02:21,400 --> 00:02:24,920 Speaker 1: most pundits don't think whatever actually happen. But that is 44 00:02:25,000 --> 00:02:29,120 Speaker 1: now being questioned, and overnight US Treasury Secretary Scott Besant 45 00:02:29,480 --> 00:02:32,360 Speaker 1: said the US is never going to default now. Just 46 00:02:32,400 --> 00:02:34,880 Speaker 1: the fact that he felt out to say it is 47 00:02:34,919 --> 00:02:38,720 Speaker 1: of consequence. Otherwise, in global markets, iron or is training 48 00:02:38,760 --> 00:02:40,360 Speaker 1: at a one month low on the back of the 49 00:02:40,440 --> 00:02:43,760 Speaker 1: doubling of steel and aluminium tariffs by the US. Oil 50 00:02:43,840 --> 00:02:45,840 Speaker 1: rose about two percent to just stay over sixty four 51 00:02:45,919 --> 00:02:48,440 Speaker 1: US dollars a barrel. Gold rose on the back of 52 00:02:48,520 --> 00:02:52,679 Speaker 1: heightened geopolitical tensions and story number five. It happened in 53 00:02:52,720 --> 00:02:55,320 Speaker 1: the US, now it's happening here. Investors are dumping at 54 00:02:55,360 --> 00:03:00,560 Speaker 1: gold ETFs and heading for cryptocurrencies. Last month, bitcoin exchange 55 00:03:00,600 --> 00:03:04,200 Speaker 1: traded funds attracted eighty seven point three million dollars in Australium, 56 00:03:04,400 --> 00:03:06,160 Speaker 1: compared to just one and a half million dollars for 57 00:03:06,200 --> 00:03:10,200 Speaker 1: gold bullion ETFs. According to Vanneck, if investors got in early, 58 00:03:10,680 --> 00:03:12,919 Speaker 1: they probably made some money. With Bitcoin up ten percent 59 00:03:13,000 --> 00:03:15,520 Speaker 1: during May, it actually hit an all time high at 60 00:03:15,520 --> 00:03:17,959 Speaker 1: one point of just under one hundred twelve thousand US 61 00:03:17,960 --> 00:03:20,480 Speaker 1: dollars a unit that compares to a slight dropping goal 62 00:03:20,560 --> 00:03:23,440 Speaker 1: prices in recent sessions, a bitcoin has come back. It's 63 00:03:23,480 --> 00:03:26,080 Speaker 1: now training around one hundred and five thousand US dollars 64 00:03:26,120 --> 00:03:29,200 Speaker 1: a unit. That's it for the Outernoon Report for Monday 65 00:03:29,240 --> 00:03:31,359 Speaker 1: eighty second of June twenty twenty five. Make sure you 66 00:03:31,440 --> 00:03:33,720 Speaker 1: hit follow on the podcast. We will be back tomorrow 67 00:03:33,760 --> 00:03:36,360 Speaker 1: morning with a Tuesday edition. The past five business used 68 00:03:36,400 --> 00:03:39,040 Speaker 1: by Fear and Greek. I'm Sean ae Elmer. I'm Joey 69 00:03:39,160 --> 00:03:39,440 Speaker 1: Evening