Fear and Greed Afternoon Report | 7 Jul 2025

This is the Fear and Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.

1. Slow day for ASX

2. OPEC boosts output

3. Star troubles

4. Northern decline

5. Lifestyle’s loss

Support the show: http://fearandgreed.com.au

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:04):
Welcome to the Fearing Greed Business News Afternoon Report for Monday,
the seventh of July twenty twenty five. I'm sure, alma,
every afternoon, we've got the five stories that happened today
that you need to know about. Story number one. The
SMPASX two hundred finished down just touch today to eight thousand,
five hundred and eighty nine points. Utilities did best in
a relatively quiet day, while material stocks were worse. Among

(00:26):
the large caps, all the big banks were lower, while
West Farmers fell two percent and Woodside and Transurban dropped
one percent. CSL was the best performer, up more than
two percent. Story number two on global markets, Fuel prices
are set to fall after Opec plus accelerated plans to
lift output, triggering fears of an oversupply. Now, it depends

(00:47):
on how you look at this as an oil supply.
You might not like the idea of an oil glut.
As a user, think we people have put petrol into
our cars. It's somewhat more attractive because it should put
downward pressure on prices. Over the week. Kendopeck plus spent
just ten minutes on a video call before agreeing to
up output. It comes as US President Donald Trump calls

(01:08):
for lower fuel costs. In the short term, analysts say
the market is tight and can absorb the increased production.
But when the northern winter kicks in and people aren't
driving their cars as much in the US, that's likely
to see a drop in demand and that could see
a sharp fallen prices. Story Number three Star Entertainment has
postponed any final decision on the sale of its stake

(01:30):
in Brisbane's new Queen's Warf casino and hotel complex until
the end of this month. But if the deal doesn't
go ahead then Star will have to pay thirty seven
million dollars. Now Choo Tayfouk Enterprises and Far East Consortium
each owned twenty five percent of the Brisbane precinct they
had planned to buy Star's steak. Last week, they threatened

(01:53):
to walk away from the deal, which was struck when
the gaming group was desperate for cash. Today, Star said
Invested had agreed to postpone a final call on the
deal until the end of this month. Now, if a
deal isn't reached, the Stars up for effectively a poison
pilled thirty six point five million dollars. Storing Number four
Gold Stocks were the big winners in the twenty twenty

(02:14):
five financial year, but the precarious nature of their success
was demonstrated today when market leader Northern Star said output
would be at the lower end of its forecast range,
sending its share price sharply lower. In fact, it was
the worst performing stock on the ASX two hundred, down
to nine percent. Northern Style also outlined plans to boost
capital expended expenditure to increase output. Meanwhile, Bellevue Gold reported

(02:39):
strong production rates and its share price jumped to two percent,
and Regius Resources, another gold digger, produced gold at the
top end of its guidance range, but its share price
finished two percent lower. Finally, story number five in corporate News,
Lifestyle Communities ended a trading halt this morning ahead of
an announcement in connection with proceedings currently before the Victorian
Civil and Administrative Tribunal. By the afternoon, the tribunal had

(03:03):
found that the group had been charging residents significant exit
fees without properly disclosing them, and they need to be scrapped.
Points Bet, which has operations in both Australia and Canada,
said that the Alcohol and Gaming Commission of Ontario has
approved the bookmaker's takeover by Japanese gaming giant Mixy, and
South thirty two rose after announcing it had entered into

(03:24):
an agreement to sell its Columbian nickel mine to a
global industrial conglomerate called Correx for one hundred and fifty
three million dollars. It follows a review into the nickel
market by South thirty two. That's at Theouthnoon Report for Monday,
the seventh of July twenty twenty five. Make sure you
hit follow on the podcast. We'll be back tomorrow morning
with the Tuesday edition of the Fast five Business News

(03:45):
by Few and Greed. I'm Sean Elmer. Enjoy your reading