Afternoon Report | ASX up; Albo snubbed

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 up

2. Albanese snubbed by Trump

3. Push for weight-loss subsidy

4. Officer charged over arrest

5. Trump warns on paracetamol

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News Afternoon Report
for Tuesday, the twenty third of September twenty twenty five.
Are Michael Thompson. Every afternoon, We've got the five stories
that happen today that you need to know about. So
let's go a story number one. It is all about
markets today. The S and PA Sex two hundred climbed
zero point four percent to eight hundred and forty six
points after a very strong lead in from Wall Street overnight.

(00:26):
Eight of the eleven sectors on the local boss finished
the day higher, led by the Bank's Commonwealth Bank, NAB, Westpac,
A and Z all up between zero points seven and
one percent today. There's another new record for the price
of gold today as well. The precious metal just seems
to keep on going. It hit three thousand, seven hundred
and forty nine US dollars, an ounce that of course

(00:47):
flowed through to the local gold miners, with Emerald resources
up more than five percent. West Gold, Perseus and Romilius
all climbing as well. A couple of stocks worth a mention.
Meyer's shares tumbled twenty five percent today after the department
store reported a thirty percent drop in annual profit that
was well below expectations. Telix Pharmaceuticals climbed more than nine

(01:09):
percent after it had some good news out of the
US for its prostate cancer imaging product and online luxury
fashion retailer set Hire. Its share price soared nearly nineteen
percent today after founder and CEO Dan Mintz bought more
shares in the company. Under story number two, and Prime
Minister Anthony Albernizi has been snubbed in New York, with

(01:30):
the White House confirming President Trump has no plans to
meet him during the UN General Assembly. Trump will instead
meet leaders from Ukraine, Argentina, the EU, and several Middle
Eastern nations. At best albome get a handshake at a
reception for world leaders tomorrow morning Australian time. The snub
comes as Trump slammed Australia's decision to recognize a Palestinian state,

(01:53):
saying it rewards humas at home. Oppositionally to Susan Lee
has backed Trump's stance, prompting FOREIGI and Minister Penny Wong
to accuse her of running a rogue foreign policy onto
story number three now, and drug maker Nova nor Disk
has asked the federal government to subsidize its weight loss
drug we Govi for up to five hundred thousand Australian

(02:14):
to our obese and living with heart disease. Currently, the
drugs are only subsidized for type two diabetes. The submission
to the Pharmaceutical Benefits Advisory Committee would see the taxpayer
cover most of the monthly cost of the drug, which
currently runs between three hundred and forty five dollars and
six hundred and forty five dollars. Novo says wider access

(02:35):
could prevent repeat heart attacks and strokes, arguing cardiovascular disease
and obesity are closely linked. The committee will hand down
its advice in November. Rival drug maker Eli Lilly is
also pushing for its obesity drug to be listed. Story
number four one out of New South Wales where a
police officer has been charged with assault after the arrest
of former Green's candidate Hannah Thomas at a pro Palestinian

(02:59):
protest in Sydney in June. Thomas claims she was punched
in the eye during the demonstration outside a defense supplier,
leaving her a serious injuries. The thirty five year old
had charges against her dropped earlier this month, and she
was awarded twenty two thousand dollars in legal costs. The officer,
a senior constable, will face court in November. Police say

(03:19):
his employment status is under review, while Greens MPs have
called for wider accountability over the handling of protests and finally,
story number five Big one out of the States today,
President Donald Trump has warned pregnant women to avoid a
set of minifan, which is known here more commonly as paracetamol,
claiming that it may be linked to autism now. The

(03:41):
President held a major press conference at the White House
alongside Health Secretary Robert F. Kennedy Junior, where he declared
that the drug should only be taken if medically necessary.
Medical experts have rejected the claim, saying there is no
clear evidence of harm linking paracetamol to autism, but Trump
has ordered new warning labels and a public awareness campaign.

(04:04):
Shares in Kenview, which is the maker of Tail and Old,
the big brand in the US, slumped more than seven
percent before recovering some ground. The President also suggested changes
to vaccine schedules for children, continuing his administration's controversial push
to overhaul public health guidance. That is it for the
afternoon report for Tuesday, the twenty third of September twenty

(04:27):
twenty five. Make sure you hit follow on the podcast
and we'll be back tomorrow morning with the Wednesday edition
of Fear and Greed. A'm Michael Thompson. Enjoy your evening.