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

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Speaker 1: for Wednesday, the fourth of June twenty twenty five. I'm

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Speaker 1: sure in Aylmer 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: and I'm more, I'm the comwell. Fank hit a new

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Speaker 1: record today, pushing the value of the company beyond three

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Speaker 1: hundred million dollars for the first time. It was the

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Speaker 1: standout stock on a pretty good day for the boss,

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Speaker 1: with the SMPASX two hundred closing up nearly one percent

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Speaker 1: to eighty five hundred and forty two points. That's just

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Speaker 1: fourteen points behind the all time high of February. Energy,

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Speaker 1: consumer discretionary, and financials did best today, while consumer staples

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Speaker 1: did worst of the eleven sectors on the ASX two hundred.

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Speaker 1: Best in the day by now Pay Later group Zipco

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Speaker 1: it was up fourteen percent, worst of the top two hundred.

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Speaker 1: New farm it fell more than five percent. Meanwhile, strong

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Speaker 1: jobs data in the US boosted commodity prices, which helped

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Speaker 1: a bunch of minors. Higher metal prices helped push PHP

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Speaker 1: in forty s Q metals. Higher oil prices are on

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Speaker 1: the rise that helped wood sign in Santas and the

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Speaker 1: local uranium stocks Alcala and South thirty two did well.

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Speaker 1: That came after Donald Trump pushed ahead with fifty percent

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Speaker 1: steel and aluminum tariffs. Mind you, there is a carve

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Speaker 1: out for UK steel and our minium. All that came

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Speaker 1: as figures from the Bureau of Statistics shows the Australian

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Speaker 1: economy grew by just zero point two percent in the

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Speaker 1: March quarter, very disappointing, taking the annual rate to one

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Speaker 1: point three percent. Sorry number two. The new Federal Parliament

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Speaker 1: won't sit until late next month, but there's plenty going

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Speaker 1: on in politics, including plans for European Commission President Ursula

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Speaker 1: von Delayan to visit Australia Trade minutes to Don Farrell

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Speaker 1: is in Paris this week for his first face to

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Speaker 1: face talks with the Europeans since negotiations collapsed in October

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Speaker 1: twenty twenty three. According to the fin Review, he told

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Speaker 1: the news organization that the world has changed and Europe

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Speaker 1: and Australia need to be the adults in the room.

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Speaker 1: Wonder Layan has mooted a visit in either late July

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Speaker 1: or early August. In anticipation of signing a deal should

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Speaker 1: one be reached by then. Farrell also met with his

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Speaker 1: US counterpart, Jefferson Grier. He said that because Trump's tariff

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Speaker 1: on Australia is only ten percent, the US hasn't sent

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Speaker 1: Australia a letter asking for the best offer for a

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Speaker 1: trade deal. Straight number three. The final undeclared seat in

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Speaker 1: the federal election will go to at Teel, meaning yet

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Speaker 1: another loss for the Liberals. The Sydney North Shore seat

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Speaker 1: of Bradfield was declared today. The Australian Electoral Commission says

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Speaker 1: Nicola Ole has won the once blue Ribbon seat after

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Speaker 1: a recount, beating Liberal candidate Giselle Capterian by just twenty

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Speaker 1: six votes in one of the tightest elections in history.

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Speaker 1: So the next Parliament at this point will include ninety

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Speaker 1: four Labor MPs, forty three coalition MPs, one each from

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Speaker 1: the Greens, the Center Alliance and Caters Australian Party, and

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Speaker 1: ten independents Austraight number four. In corporate news today, the

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Speaker 1: corporate Regulator is suing Westpac subsidiary Rams Asset claims that

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Speaker 1: Ram's homelands fail to properly supervise franchisees, some of whom

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Speaker 1: submitted false pacelips from fake employers, changed borrower expense calculations

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Speaker 1: to get loans over the line, and US pharmaceutical giant

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Speaker 1: Cosette has told Maine Farmer it will terminate its six

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Speaker 1: hundred and seventy two million dollar take over a bid

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Speaker 1: for the Adelaide based drug company. Maine Farmer shares fell

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Speaker 1: last month after Casette raised concerns the target had issued

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Speaker 1: weaker than expected earnings guidance and disclosed a possible US

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Speaker 1: regulatory issue with one of its key products. Finally, a

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Speaker 1: straight number fire, The Dutch government has collapsed, most likely

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Speaker 1: ushering in a snap election, after anti Muslim politician Gert

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Speaker 1: Wilders quit the right wing coalition, accusing other parties of

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Speaker 1: failing to back his tougher immigration policies. But Prime Minister

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Speaker 1: Dick Schuff, an independent, accused the political maverick of irresponsibility

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Speaker 1: and the other coalition parties denied failing to support Wilders.

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Speaker 1: According to Reuter's, ministers in the cabinet from Gertz's PVV

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Speaker 1: party will also quit, leaving the others to continue as

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Speaker 1: a caretaker administration until an election unlikely to be held

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Speaker 1: before October. Frustration with migration and the high cost of

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Speaker 1: living is boosting the far right and widening divisions in Europe,

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Speaker 1: just as it deals with the hostile Russia in an

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Speaker 1: unpredictable and combative US president in Donald Trump. That's it

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Speaker 1: for the Afternoon Report for Wednesday, the fourth of June

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

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Speaker 1: We'll be back tomorrow morning with the Thursday edition of

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Speaker 1: the past five business news by Fear and Greed. I'm

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Speaker 1: Sean Elmer. Enjoy your reaving