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

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Speaker 1: for Thursday, the twenty fourth of July twenty twenty five.

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Speaker 1: I'm Sean 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: at number one. The SMPASEX two hundred closed down zero

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Speaker 1: point three percent today to eight thousand, seven hundred and

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Speaker 1: nine points. A lower price in gold pushed down the

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Speaker 1: gold stocks, while the industrial's index was the worst performer

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Speaker 1: on the course. Brambles and computer share, both part of

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Speaker 1: that index, fell sharply. The banks and miners were mixed,

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Speaker 1: while the retailers were generally lower. Healthcare stocks were higher,

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Speaker 1: led by CSL, which is up fifteen percent over the

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Speaker 1: past four weeks. Others to do well today include Clarity Pharmaceutical,

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Speaker 1: Neurine Pharmaceutical, and Miso Blast. Story number two. Fordescu share

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Speaker 1: price that rose today after it shipped a record volume

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Speaker 1: of iron ore in the year to June four carst

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Speaker 1: stronger growth in the next twelve months, although there are

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Speaker 1: more problems for the miners green energy ambitions. Fordescu share

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Speaker 1: price is up thirty percent over the past month, out

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Speaker 1: doing BHP and Rio Tinto. Now most of that is

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Speaker 1: on the back of renewed confidence around iron ore. The

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Speaker 1: minor expects iron ore export volumes to rise three percent

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Speaker 1: over the next year. Higher volumes means lower unit costs,

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Speaker 1: so it's a virtuous circle. The group also flagged a

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Speaker 1: two hundred and twenty seven million dollar in pairman on

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Speaker 1: two failed energy projects, providing another knock to its clean

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Speaker 1: energy goals. The Arizona Hydrogen and Gladston Electrolyizer projects won't

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Speaker 1: go ahead and the assets will be repurposed their word

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Speaker 1: Story number three, Day three of the new parliament and

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Speaker 1: Minister for Employment and Workplace Relations Amanda Rishworth introduced a

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Speaker 1: bill to protect penalty rates. She said, if you rely

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Speaker 1: on the modern awards, safety net and work weekends, public holidays,

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Speaker 1: early mornings, late nights, you deserve to have your wages protected.

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Speaker 1: The Coalition accused the Government of trying to rush through

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Speaker 1: the legislation on penalty rates without proper consultation with small businesses. Otherwise.

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Speaker 1: In question time, the rg Barji revolved around the US

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Speaker 1: beef biosecurity restrictions. Overnight we heard that Australia will allow

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Speaker 1: US beef to be exported into this country. There was

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Speaker 1: also debate over potential changes to taxation of superbalances above

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Speaker 1: three million dollars straight um before. In corporate news, Pexa's

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Speaker 1: share price jump to seventeen percent after the digital Settlement

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Speaker 1: platform entered a formal commitment with nat West that will

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Speaker 1: see the UK lender deliver remortgages, sale and purchase transactions

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Speaker 1: on pexas platform, very big news for that company. Linus

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Speaker 1: Rare Earths jumped after signing a memorandum of understanding with

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Speaker 1: Korean permanent magnet manufacturer Jslink for a potential manufacturing and

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Speaker 1: supply partnership. It also said in a statement that it

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Speaker 1: sold its minerals for the highest price achieved in the

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Speaker 1: past three years and believes the price will go even

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Speaker 1: higher given the Trump administration's interest in critical minerals and

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Speaker 1: Northern Star Resources has axed its forward hedging pose to

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Speaker 1: try and take advantage of the sewing goal price, but

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Speaker 1: acknowledges that troubles that it's super Pitmind and cal Gurley

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Speaker 1: will keep a lid on production. Finally, story number five,

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Speaker 1: Wall Street is training at another record high after earnings

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Speaker 1: from a couple of the big tech stocks Alphabet, owner

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Speaker 1: of Google, beat expectations and said it's lifting its twenty

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Speaker 1: twenty five capital expenditure budget by about ten billion US

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Speaker 1: dollars amid surging demand for its cloud products and services.

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Speaker 1: In after hours training, its share price surged. That was

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Speaker 1: the good news. The news for Tesla wasn't so good.

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Speaker 1: The ev maker confirmed sales and revenue tumbled last quarter,

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Speaker 1: sending its share price lower in after hours training. The

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Speaker 1: manufacturer also said it has begun initial production of a

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Speaker 1: cheaper electric vehicle model, but boss Inlon Musk warned of

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Speaker 1: a potential rough stretch ahead. That's it for the afternoon

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Speaker 1: report for Thursday, the twenty fourth of July twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with the Friday edition of Fear

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Speaker 1: and Greed Business News. I'm Sean Elmer. Enjoy reading