Afternoon Report | Copper boosts big miners

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. Hastie shuts down leadership talk

3. Youth crime surges in Victoria

4. Qantas unveils new jets

5. Trump claims UN sabotage

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News Afternoon Report
for Thursday, the twenty fifth of September twenty twenty five.
Are Michael Thompson and every afternoon we've got the five
stories that happened today that you need to know about.

Speaker 2 (00:14):
Let's go with story number one. It's all about markets
are soaring.

Speaker 1 (00:17):
Copper price has given a boost to the big miners,
helping the s and PASX two hundred to a narrow
zero point one percent gain today, closing at eighty seven
hundred and seventy three points. BHP and Rio Tinto were
both up three point six percent today. Pure play copper
produces even more as the price of the metal climbed.

(00:37):
It has been driven by a landslide at a major
mine in Indonesia earlier this month. Gold miners, on the
other hand, went backwards today, the price of gold retreating slightly,
and Romelius, Genesis and Northern Star all lost a bit
of ground. Higher oil prices helped the energy companies Woodside, Santos,
Beach Energy all climbing today. Tough day though for the

(00:58):
healthcare stocks. Some of the retailers struggled to Meyer's bad
run continued and Premier investments that rose early in the
day then closed zero point two percent lower on a
drop in profit, and claims as well by Premiers founder
Solomon Lou that an internal investigation into its Smiggle stationery
chain had allegedly uncovered a culture of serious misconduct ranging

(01:23):
from absenteeism, intoxication during work hours, bullying and more. I
will have more on that one in tomorrow morning show
under story number two. Now and Liberal MP Andrew Hasey
has dismissed speculation yet again that he is preparing a
tilt at the party leadership, insisting that he does support
opposition leader Susan Lee. He was speaking on Sydney radio

(01:45):
station two GB and said anyone who's speculating otherwise is
being mischievous. I'm a team player. He has made several
significant interventions on net zero policy, immigration manufacturing that have
divided Liberal MPs. Some see them as a distraction, others
say though, and I quote he would make a remarkable
leader one day. Meanwhile, as the Opposition continues to deal

(02:08):
with all of this speculation end well in fighting. The
Prime Minister has used his first address to the United
Nations General Assembly to recommit Australia to tackling climate change,
urging world leaders to embrace clean energy. He also confirmed,
though that Australia is going to campaign for a temporary
seat on the UN Security Council in twenty twenty nine
twenty thirty. That is reviving a goal set a decade

(02:31):
ago under Julie Bishop. Story number three, Victoria Police say
COVID lockdowns have played a role in fueling a youth
crime wave, with children now responsible for nearly half of
all aggravated burglaries and more than a quarter of car
thefts across the state. New crime data released today shows
one hundred and twenty eight repeat youth offenders committed over

(02:54):
seven thousand defenses last year, driving an eighteen percent surge
in overall incidents. Deputy Commissioner Robert Hill says young people
had been influenced by gang culture, social media and the
disconnection caused by lockdowns. Police have also raised concerns about
knife crime, car key thefts, and organized retail crime syndicates,

(03:15):
as total offenses rose to more than six hundred and
thirty eight thousand that is the highest since records began.

Speaker 2 (03:22):
Story number four. Today, quantus CEO Vanessa Hudson has launched
the airline's first new airbus, A three twenty one XLR,
on the Sydney to Melbourne route, marking the start of
a fifteen billion dollar much talked about fleet renewal. The
new aircraft replaces the aging Boeing seven three sevens, offering
more capacity. There's extra business class seats, wider cabins, larger

(03:45):
overhead storage, but according to some reports, fewer toilets per
passenger on long haul flights. Hudson says the upgrade will
deliver better outcomes right across the spectrum for customers and
for investors as well. The new planes can fly long
range regional route Analysts say the move will ease pressure
on load factors, with capacity growth outpacing rival Virgin Australia

(04:08):
and finally, Story number five. The Secret Service is investigating
what US President Donald Trump has called the triple sabotage
of his United Nations appearance after an escalator stopped working
while he was on it and he experienced technical difficulties
during his speech. We did talk about this yesterday, but
it has escalated somewhat. Trump blamed the UN, calling the

(04:29):
events sinister. He has demanded arrests. The UN says, though,
that the escalator incident was triggered by a US delegation
videographer and the White House actually ran the teleprompter that
stopped midway or before the President even began his speech.
The third issue that was raised, which was the sound
dropping out during his speech, was actually reported by the

(04:50):
First Lady herself. It all comes as the White House
has replaced Joe Biden's portrait on a new Presidential Walk
of Fame. Instead of a picture of the former president,
there is a picture of the automatic pen that Joe
Biden and other presidents have used to sign executive orders.
Make of that what you will. That's it for the
Afternoon Report for Thursday, the twenty fifth of September twenty

(05:12):
twenty five. Make sure you hit follow on the podcast
and we'll be back tomorrow morning with the Friday edition
of Fear and Greed.

Speaker 1 (05:18):
I'm Michael Thompson. Enjoy your evening.