Afternoon Report | ASX flat

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. Gold outperforms

2. DroneShield surge

3. Abacus bid

4. South32 warning

5. EU-US spat

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News Afternoon Report
for Monday, the Food of July twenty twenty five. I'm
Sean Elmer. Every afternoon, we've got the five stories that
happened today that you need to know about. Storingum one.
The SMPA SEX two hundred closed down slightly today zero
point one percent in fact, to eight five hundred and
seventy points. The banks were mixed, so to the big miners,

(00:24):
it's like investors are on school holidays at the moment.
Perhaps they are. It's a pretty good day for the
gold stocks. In the back of the geo political uncertainty
around the place. Northern Star, Newmont and the Evolution Mining
all rows. The same uncertainty hit some of the mid
cap tech stocks Zip Appen, Block, NNAC Sonics all Film
story number two. There were bits and pieces of corporate

(00:45):
news around today. Drone Shield will invest thirteen million dollars
in a major new research, development and manufacturing facility, triple
the size of its current facility that pushed its share
price up as much as twelve percent to a record high.
Retail Lesh city Ship Collective said it will make a
profit for the last financial year after losing money of
the previous year, but the forecast bottom line disappointed investors.

(01:09):
Its share price closed down one percent. Henson Technology Is
upgraded its underlying profit outlooks, sending its share price up
eleven percent. Coal minor Bowen Coching resumed trading on the
AX after a three week suspension sparked by growing concerns
about its liquidity. Its share price closed up four percent,
And finally, Acquari Technology Group said its data center arm

(01:30):
has entered into an option to purchase a pace of
land for a new data center campus in Sydney. It's
share price top ten percent, the best of the top
two hundred today. Story number three bidders for Abicus Storage
King have up their offer for the group by almost
fifteen percent to two point two billion dollars. That was
enough to convince the ASX listed company to open its

(01:51):
books to the bidders, led by a South African businessman
and a Wall Street listed company. In April, Abacus rejected
a one dollar forty seven per security bid, saying its
portfolio really is valued about a dollar seventy three a share.
The latest offer is a dollar sixty five a share.
Its share price closed today at a dollar sixty five,
so there's still a ways to go there. Apicus owns

(02:12):
two hundred and ten self storage sites in Australia and
New Zealand, adding to the intrigue. Another storage operator ASX
listed National Storage Route, owns nine percent of Abicus. As
I said, still a long way to go on that one.
Story number four. Diversified Minors South thirty two has put
its production guidance under review, flagging an unquantified expense at

(02:35):
its Moses aluminium smelter in Mozambique. The problem is getting
energy to the mine. Electricity is supplied to Moses under
an agreement due to expiring March next year. Now. Historically,
the majority of electricity from Moses has been generated in
Mozambique by a hydroelectric power generator, which is majority owned
by the Mozambacon government. Negotiations over affordable power after March

(02:59):
next year is the reason for the warning yesterday and
story number five. The fallout from Donald Trump's announcement of
tariffs on the European Union continues, with German Chancellor Frederick
Mertz saying thirty percent tariffs would hit exporters in Europe's
largest economy to the core Mertz is hoping to find
a negotiated solution in coming weeks. He said, if the

(03:20):
tariffs are introduced, they would overshadow domestic policy in Germany's
government may need to postpone parts of its economic policy efforts.
The European Union will extend the suspension of trade countermeasures
against the US until August one to allow for further talks. However,
according to Italy's foreign minister, the EU has already already
prepared a list of tariffs on US goods if the

(03:42):
two regions fail to reach a deal. Meanwhile, Bloomberg is
reporting that the EU will step up its engagement with
other countries hit by US tariffs. Both Canada and Japan
are included in those plans. That's it for their afternoon
report for Monday, the fourteenth of July twenty twenty five.
Make sure you follow on the podcast will be back
tomorrow morning with a Tuesday edition of Field and Great
Business Unions. I'm Sean i Elmer enjoyry