1 00:00:03,520 --> 00:00:06,320 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:09,120 Speaker 1: for Monday, the twentieth of October twenty twenty five. Are 3 00:00:09,119 --> 00:00:11,720 Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that 4 00:00:11,760 --> 00:00:13,840 Speaker 1: happened today that you need to know about. Let's get 5 00:00:13,920 --> 00:00:16,360 Speaker 1: cracking with story number one. The S and p ASX 6 00:00:16,360 --> 00:00:20,280 Speaker 1: two hundred climbed zero point four percent today to nine 7 00:00:20,360 --> 00:00:24,120 Speaker 1: thirty two points. Nine of the eleven sectors gained ground, 8 00:00:24,200 --> 00:00:26,520 Speaker 1: led by the banks. The big four were all higher, 9 00:00:26,600 --> 00:00:29,640 Speaker 1: with Commonwealth Bank climbing two point six percent. By now 10 00:00:29,680 --> 00:00:33,120 Speaker 1: pay Later operator ZIP was up four point three percent 11 00:00:33,159 --> 00:00:36,680 Speaker 1: after upgrading its growth outlook. For the US, the miners, though, 12 00:00:36,720 --> 00:00:39,920 Speaker 1: were the worst performers today. Investors sold off gold stocks, 13 00:00:39,920 --> 00:00:42,760 Speaker 1: even though the price of the precious metal climbed. Shares 14 00:00:42,760 --> 00:00:46,680 Speaker 1: in Newmont dropped almost six percent, Evolution down almost five percent, 15 00:00:46,760 --> 00:00:51,440 Speaker 1: PERSEUS Mining about four percent lower. Critical minerals companies were 16 00:00:51,479 --> 00:00:54,520 Speaker 1: also down. I Luka was off six point seven percent, 17 00:00:54,560 --> 00:00:57,560 Speaker 1: although Linus rare earths actually went the other way, climbing 18 00:00:57,800 --> 00:01:01,760 Speaker 1: six point seven percent. Relatively weak economic data out of 19 00:01:01,840 --> 00:01:04,880 Speaker 1: China certainly didn't help, with iron ore minor BHP off 20 00:01:04,920 --> 00:01:08,160 Speaker 1: one point one percent. The biggest move today though, came 21 00:01:08,160 --> 00:01:12,680 Speaker 1: from uranium minor Deep Yellow, which fell almost twenty percent 22 00:01:12,800 --> 00:01:16,200 Speaker 1: with the chief executive leaving the company, and Drone Shield 23 00:01:16,520 --> 00:01:20,880 Speaker 1: dropped two point six percent despite reporting a significant jump 24 00:01:20,920 --> 00:01:23,720 Speaker 1: in revenue in the September quarter. How significant, I hear 25 00:01:23,720 --> 00:01:28,000 Speaker 1: you ask about one thousand percent? There you go. Moving 26 00:01:28,000 --> 00:01:30,160 Speaker 1: on to story number two. Now and Prime Minister Anthony 27 00:01:30,200 --> 00:01:32,880 Speaker 1: Alberanezi has arrived in Washington ahead of his face to 28 00:01:32,920 --> 00:01:36,000 Speaker 1: face meeting with US President Donald Trump, where he is 29 00:01:36,040 --> 00:01:38,840 Speaker 1: expected to push for support to build a strategic reserve 30 00:01:39,000 --> 00:01:42,600 Speaker 1: of Australian critical minerals. The Oval Office talks come amid 31 00:01:42,680 --> 00:01:47,360 Speaker 1: rising US China tensions, with Beijing accused of essentially weaponizing 32 00:01:47,440 --> 00:01:51,080 Speaker 1: export curbs on minerals essential for defense, chip making and evs. 33 00:01:51,440 --> 00:01:55,680 Speaker 1: The renewed trade friction has given our Prime Minister perhaps 34 00:01:55,760 --> 00:01:59,440 Speaker 1: an opening to pitch Australia as a secure alternative supplier, 35 00:01:59,680 --> 00:02:03,320 Speaker 1: but also risks putting him at odds with our largest 36 00:02:03,360 --> 00:02:06,320 Speaker 1: export market. We will have full coverage of the meeting 37 00:02:06,400 --> 00:02:10,840 Speaker 1: on tomorrow morning's episode. Story number three. China's growing buying 38 00:02:10,960 --> 00:02:15,040 Speaker 1: power could push mining giant BHP and Rio tinto toward 39 00:02:15,560 --> 00:02:19,400 Speaker 1: a limited iron ore alliance, once considered impossible, according to 40 00:02:19,440 --> 00:02:22,840 Speaker 1: analysts at the Royal Bank of Canada, Beijing's state backed 41 00:02:22,960 --> 00:02:25,960 Speaker 1: China Mineral Resources Group now coordinates much of the country's 42 00:02:25,960 --> 00:02:29,280 Speaker 1: steel demand and is demanding new terms that threaten to 43 00:02:29,440 --> 00:02:34,880 Speaker 1: erode miners pricing power. The Australian reports today that RBC 44 00:02:35,160 --> 00:02:39,840 Speaker 1: analysts are predicting a JV light model focused on logistics 45 00:02:40,160 --> 00:02:44,720 Speaker 1: blending renewable energy and decarbonization could help defend the pricing 46 00:02:44,880 --> 00:02:50,280 Speaker 1: premium of the pilbre miners while avoiding antitrust concerns. BHP 47 00:02:50,480 --> 00:02:54,240 Speaker 1: and RIO have declined to comment on the speculation. Story 48 00:02:54,320 --> 00:02:57,799 Speaker 1: number four. A buyer has reportedly been found for collapsed 49 00:02:57,800 --> 00:03:00,960 Speaker 1: regional carrier Rex Airlines, with nine new newspapers reporting that 50 00:03:01,040 --> 00:03:05,040 Speaker 1: Nasdaq listed airt has agreed to acquire the business fifteen 51 00:03:05,080 --> 00:03:09,520 Speaker 1: months after it entered voluntary administration. Rex, which operates fifty 52 00:03:09,560 --> 00:03:13,000 Speaker 1: seven planes on regional routes, had struggled with mounting debts 53 00:03:13,000 --> 00:03:16,880 Speaker 1: after expanding into capital city markets. The Golden Triangle to 54 00:03:16,960 --> 00:03:20,959 Speaker 1: compete with Quantus and Virgin airte runs cargo and charter 55 00:03:21,120 --> 00:03:23,840 Speaker 1: services in the US, and it will provide access to 56 00:03:23,919 --> 00:03:28,360 Speaker 1: spare parts for Rex's aging Saab fleet and help maintain 57 00:03:28,440 --> 00:03:31,400 Speaker 1: these crucial regional connections that are a vital part of 58 00:03:31,440 --> 00:03:34,120 Speaker 1: what REX does. The Albanezer government, which loaned up to 59 00:03:34,160 --> 00:03:37,040 Speaker 1: eighty million dollars to keep the airline flying and bought 60 00:03:37,080 --> 00:03:39,920 Speaker 1: fifty million dollars of debt from its largest creditor, had 61 00:03:39,920 --> 00:03:44,760 Speaker 1: insisted any buyer commit to servicing remote communities. Full details 62 00:03:44,800 --> 00:03:47,680 Speaker 1: of the deal are expected to emerge later this week. 63 00:03:48,080 --> 00:03:51,120 Speaker 1: And finally story number five. Two people have died after 64 00:03:51,160 --> 00:03:54,400 Speaker 1: a cargo Boeing seven four to seven, operating for Emirates, 65 00:03:54,600 --> 00:03:56,880 Speaker 1: skid it off the runway into the sea while landing 66 00:03:56,920 --> 00:04:00,200 Speaker 1: in Hong Kong early this morning. The aircraft collise added 67 00:04:00,240 --> 00:04:02,840 Speaker 1: with an airport patrol car during poor weather, pushing it 68 00:04:02,880 --> 00:04:05,720 Speaker 1: into the water and killing two security staff on the ground. 69 00:04:06,120 --> 00:04:09,680 Speaker 1: All four crew were rescued taken to hospital. No cargo 70 00:04:09,800 --> 00:04:12,400 Speaker 1: was on board the aircraft. The incident has prompted the 71 00:04:12,440 --> 00:04:15,120 Speaker 1: temporary closure of the airport's northern runway, which is one 72 00:04:15,120 --> 00:04:18,640 Speaker 1: of our Asia's busiest, while investigator search for the planes 73 00:04:18,720 --> 00:04:22,000 Speaker 1: black boxes. The thirty two year old jets was originally 74 00:04:22,040 --> 00:04:25,159 Speaker 1: delivered as a passenger aircraft in nineteen ninety three before 75 00:04:25,200 --> 00:04:27,800 Speaker 1: being converted to freight use. That is it for the 76 00:04:27,839 --> 00:04:30,800 Speaker 1: afternoon Report for Monday, the twentieth of October twenty twenty five. 77 00:04:31,000 --> 00:04:33,200 Speaker 1: Make sure you hit follow on the podcast and head 78 00:04:33,200 --> 00:04:35,640 Speaker 1: along to Fearangreed dot com dot au and sign up 79 00:04:35,680 --> 00:04:39,440 Speaker 1: for our free daily newsletter. I'm Michael Thompson. Enjoy your evening.