Afternoon Report | Markets, elections and sentiment

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 closing high

2. Bradfield dispute

3. Keating invite

4. Sentiment rising

5. Trump’s Russia threat

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 Tuesday, the fifteenth of July twenty twenty five. I'm
Sean Aylmer. Every afternoon, we've got the five stories that
happened today that you need to know about. Stort number one.
The SMPA six two hundred finished up zero point seven
percent today to eighty six hundred and thirty points, eclipsing
the previous closing high, though it is still shy of

(00:25):
its all time home. There were big jumps in some
of the tech stocks on the back of Wall Street increases,
with Life three sixty up eight percent, Wistech Global zero,
Technology one, and next dc will rose around two percent.
The tariff news out of the US, where Donald Trump
said he's willington gatio with URIM, helped the healthcare stocks,
with CSL rising nearly four percent. Telstra was also a

(00:47):
strong performer. The big banks have had a few slower sessions,
but all four and Macquarie Group were higher today. In contrast,
the big miners were lower. In corporate news, wealth management
platform Hub twenty four more than six percent after announcing
an increase in funds under management. The stock is up
one hundred and twenty percent over the past year. Story

(01:08):
number two. The federal election held two and a half
months ago isn't quite over yet, with the unsuccessful Liberal
candidate in the seat of Bradfield in Sydney's North asking
the High Court to examine a small number of disputed
ballot papers. Tail MP Nicolot Bowl won the one time
blue ribbon Liberal seat by just twenty six votes. She'll

(01:30):
be sworn in as in as an MP when Parliament
sits next week. The Liberal candidate, Giselle Capterian, was initially
declared the winner by eight votes, then she lost the recount.
Capterian said she had full respect for the Australian Electoral
Commission in integrity of the process, but she's entitled under
the law to request a judge count a small number
of disputed ballot papers and that's what she's done. Bowle

(01:52):
said she'll seek community donations to fund her defense. Story
number three. Former Labour Prime Minister Paul Keating has been
asked to be a strategic advisor on East Asia to
Indonesian President Prabawo Subianto and joined the advisory board of
Indonesia's Sovereign Wealth Fund, known as the Nantara, Prabawo invited

(02:13):
Keating to take on the roles, according to the finn Review.
Now Keating confirmed the invitation, but he's not commenting. The
Sovereign Wealth Fund was launched by Prabawo in February. It
was given nine hundred billion US dollars that's about one
point four trillion osin in assets to manage, including several
state owned enterprises. It is one of the largest sovereign
wealth funds in the world and central to Probao's push

(02:35):
to boost economic growth in Indonesia to about eight percent
per annum by twenty twenty nine. Sorry number four. Consumer
sentiment is on the rise slowly, though there are still
more pessimens than optimists out there in the economy. The
Westpac Melbourne Institute survey shows an increase in sentiment in June,
following rises in April and May. However, it is coming

(02:55):
off a very low base and overall pessimism prevails. The
measure in the survey there's lagging most is family finances
this a year ago, though consumers are more upbeat about
the next twelve months. Not surprisingly, wage journers are still
worse off than twenty twenty and that's because price levels
are up about twenty percent of that time wages growth
it's up only fifteen percent. And finally, straight number five.

(03:16):
Donald Trump has threatened to impose stiff financial penalties on
Russia if it does not end hostilities with Ukraine, even
as he pledged fresh weapons supplies for Kiev. The US
President said the US will set tariffs at about one
hundred percent on Russia if there isn't a deal to
stop the war with Ukraine in fifty days. Trump said
the levies would come in the form of secondary tariffs,

(03:40):
without providing any details. According to Bloomberg, the US President
has used the term in the past to describe duties
imposed on countries for trading with America's adversaries, the idea
being if you trade with Russia, you'll get hit with
a tariff and that will flow through to Russia. We'll
see what happens on that one. That's it the Afternoon
Report for Tuesday, the fifteenth of July twenty twenty five.
Make sure you hit follow on the podcast. We'll be

(04:01):
back tomorrow morning with you Wednesday edition of Fear and
Green Business News. I'm lma enjoy your reaving