Afternoon Report | ASX up as commodities climb

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. Commodities help ASX rise

2. RBA flags house price lift

3. Coalition support slumps

4. Canva’s profits examined

5. Charlie Kirk memorial

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
for Monday, the twenty second of September twenty twenty five
are Michael Thompson. Every Afternoon, I got the five stories
that happened today that you need to know about. Story
number one, it's all about markets. The SMPA is sex
two hundred climbs zero point four percent today to eighty
eight hundred and eleven points, largely thanks to commodities.

Speaker 2 (00:24):
Resources stocks had a really good day. The prices of
iron ore, uranium, lithium, gold, copper all up and that
saw some pretty strong results for many of those miners.
Iron ore giants Rio Tinto and Fortescue were both up sharply.
BHP climbed one percent. Uranium company Boss Energy was up
nearly seven percent, Paladin up nearly five percent after the

(00:46):
World Nuclear Association forecast are doubling in uranium demand by
twenty forty. Gold miners surged. Regis Resources were up nearly
nine percent, Perseus Mining, Northern Star, Evolution Mining, Newmont basically
shopping list of the gold miners. They all climbed today.
At the other end of the market, the banks had
a pretty ordinary day with comwealth Bank, A and Z

(01:08):
and NAB all down slightly onto story number two. Now
and the Reserve Bank says the government's plan to bring
forward an expanded First Home Buyers scheme could put upward
pressure on house prices. Reserve Bank Governor Michelle Bullock and
other members of her team front at a parliamentary committee
today in Canberra. Assistant Governor Brad Jones told Parliament that

(01:29):
the First Home Buyer scheme, which kicks in next month,
may put and I quote a little more upward pressure
on house prices in the short term. But he also
went on to say the Treasury has also done some
work on medium term supply response and their sense is
that we will see over time and uplift in supply
in response to that extra demand as well, and so

(01:50):
that will end up dampening the price effect over the
medium term. In other words, prices may go up a little,
but increased supply of homes on the market eventually should
help it out. It was a pretty wide ranging appearance
at Parliament by the Reserve Bank and we will have
plenty more on this in tomorrow morning show. Story number three.
Support for the Federal Coalition has slumped to new lows

(02:11):
with young voters and across the East Coast States. New
analysis of Newspot data from the last three months shows
support among people in the eighteen to thirty four demographic
has dropped to eighteen percent for the Coalition compared to
Labour on thirty six percent and the Greens on twenty
six percent, while in New South Wales the Coalition is
sitting at just twenty five percent on its primary vote

(02:35):
and Labour is leading sixty to forty percent on two
party preferred. Interestingly, it seems that men are deserting the
Conservative Party. It was previously skewing mail and now there's
actually a more even split between men and women supporting
the party. One Nation has picked up share, especially with
older voters. As the Coalition continues to struggle to regain

(02:56):
ground post election, Opposition leader Susan Lee has a very
big job to do. Story number four Today, Canvas long
standing claims about being profitable are under scrutiny after long
delayed accounts revealed the design software giant booked years of
losses despite surging revenue. Now, the company has long said
that it's been profitable for seven years, but accounts for

(03:18):
twenty twenty one and twenty twenty two, filed three years late,
show Canvas Australia ran statutory losses between twenty nineteen and
twenty twenty two, including a two hundred and twenty two
million dollar loss in twenty two, even as revenue is jumping.
Canvas insists, though that it has been cash flow positive
for nine years, arguing that non cash costs like stock

(03:41):
based pay does skew its results, which is a reporting
style also used by another Australian giant at Lassion Now.
Canvas recently opened a share sale valuing it at forty
two billion US dollars ahead of a potential Wall Street
listing next year. It has continued to grow though. It
says that it now has two hundred and forty million

(04:02):
monthly users, including twenty seven million paying subscribers, and more
than three point four billion US dollars in annualized revenue. Finally,
story number five, US President Donald Trump has honored murdered
conservative activist Charlie Kirk at a packed memorial in Arizona,
calling him a martyr to American freedom. Thousands filled the

(04:25):
stadium there, including Vice President JD Vance and Elon Musk.
Trump said Kirk inspired young voters and would be awarded
the Presidential Medal of Freedom. Charlie Kirk's widow, Erica forgave
the alleged killer and announced that she will now lead
Turning Point, which is the group that Kirk founded. The
FBI is also investigating whether the shooter had accomplices. That's

(04:47):
it for the afternoon Report for Monday, the twenty second
of September twenty twenty five. Make sure you hit follow
on the podcast and we'll be back tomorrow morning with
the Tuesday edition of Fear and Greed. A Michael Thompson.
I'll enjoy your evening