Afternoon Report | ASX and Trump tariffs

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. ASX closes lower

2. Lifestyle tumbles

3. Telix win

4. G8 cameras

5. Trumps’ wrath

Find out more: https://fearandgreed.com.au

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News Afternoon Report.
Paul Wednesday, ninth of July twenty twenty five. I'm suan alma.
Every afternoon, We've got the five stories that happened today
that you really do need to know about. Story number one.
The SMPA six two hundred dropped in the first thirty
minutes of trading today, called its way back to be
in positive territory, then tumbled at the end of the
day to close down zero point six percent to eighty

(00:25):
five hundred and thirty one points. It followed an announcement
overnight by US President Donald Trump that he's going to
impose large tariffs on copper fifty percent and potentially two
hundred percent on pharmaceutical products. A dropping the price of
gold hit the miners of the precious metal, with Newmont,
Perseus and Northern Star or lower interest rate sensitive stocks. Notably,

(00:47):
the property companies fell on the back of yesterday's decision
by the RBA to not cut interest rates. Goodman Group
was the worst performing of the megastocks, dropping two point
three percent today, and the uranium stocks so fell back
in line with the price of ekake. The big banks
were mixed, the big miners were lower and more. Quari
Group fell more than two percent. Story number two retirement

(01:08):
living operator Lifestyle Communities shares hit the boss today, having
been suspended since Monday, and its price tumbled more than
forty percent before closing down thirty seven percent. It follows
a Victorian tribunal ruling that the exit fees the business
charges to departing residents are invalid. The Victorian Civil and

(01:28):
Administrative Tribunal found that Lifestyle Communities had breached tenancy laws
by failing to clearly disclose to third management fees in
its residential site agreements. Lifestyle says it will appeal the finding.
Story number three. One local health company to do well
today thanks to goings on in the US is Telix Pharmaceuticals,
the therapeutic and diagnostic imaging group. Its share price finished

(01:52):
up more than six percent, the best of the top
two hundred after announcing its prostate cancer imaging product go
Zoelix has been granted a permanent code by the US
Centers for Medicare and Medicaid Services. That means a product
is a big step closer to being used regularly in
the US for the diagnosis of prostate cancer, which is

(02:13):
the second most common cancer in men in the US,
with about three hundred and fourteen thousand new cases diagnosed
each year. Story number four G eight Education, one of
Australia's largest child care providers, will install CCTV cameras inside
all of its four hundred centers after a former employee
was charged with more than seventy abuse offenses. The company

(02:34):
has already banned staff from using personal devices while working
in its center's rooms. It will also provide parents with
the opportunity to have preferences on who supports their child's
personal care routines, such as nappy changing that type of thing.
G eight will also advocate for a national registry for
working with vulnerable people, including working with children. Jade's share

(02:55):
prices dropped twenty percent since the charges were revealed, and
story number five. Donald Trump has taken aim at the
boss of the Federal Reserve and Russian President Vladimir Putin,
sparing neither of them from his wrath, starting with Jerome Powell,
chair of the Federal Reserve, who Trump called terrible. Trump
accused him and I quote of whining like a baby

(03:16):
about non existing inflation for months and refusing to do
the right thing. Cut interest rates Jerome. Now is the time.
End quote on Pertin, Trump reiterated plans to send more
weapons to Ukraine, telling a cabinet meeting quote, I'm not
happy with Pertin. I can tell you that much right now,
because he's killing a lot of people. We get a

(03:37):
lot of bullshit thrown at us by Pertin. You want
to know the truth. He is very nice all the time,
but it turns out to be meaningless. End quote. That's
it for the afternoon report for Wednesday, the ninth of
July twenty twenty five. Make sure you hit follow on
the podcast. We will be back tomorrow morning with the
Thursday edition of Fear and Greed Business News. I'm Shohn Elmer.
Enjoy your evening.