Afternoon Report | Markets, gold and Dolly

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 flat

2. Gold hits $US4,000 an ounce

3. Aust-Singapore deal

4. NDIS fraud

5. Dolly Parton’s health fears

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Episode Transcript

Speaker 1 (00:03):
Welcome to Fear and Greed. Business Year's Afternoon Report for Wednesday,
the eighth of October twenty twenty five. I'm sure in
ailmar every afternoon, we've got the five stories that happened
today that you need to know about. Stoneum one. The
SMPA SEX two hundred closed slightly lower today to eighty
nine hundred and forty eight points, and it was the
consumer discretionary stocks leading the market south that followed a

(00:23):
pretty good day for those stocks yesterday. The market can
be very fickle at times. Among the large caps, West Farmers, Aristocrat,
Leisure in Tostra were the worst performers. QBE, Sigma Healthcare
and Rio Tinto among the best couple of notables today.
Miso blast rallied nine percent after reporting US revenues for
ryan thul its therapy to treat children for complications that

(00:44):
could occur during bone marrow transplants, had increased by sixty
six percent in the September quarter. Its share price has
almost doubled since its loads in June, though it is
only back to where it was at the beginning of
the year, and James Hardy's share price jump ten percent
today after upgrading its sales and earnings Forecast Chief executive
Aaron Uta said the integration of the US based AZC

(01:07):
was on track. Hardy share price, notwithstanding today's rise, is
off almost twenty percent this year. Storry number two Gold
has pushed through four thousand US dollars announce driven by
investors seeking safety from economic and geopolitical uncertainty alongside expectations
of further interesstraight cuts by the US Federal Reserve. Spot

(01:27):
gold today hit an all time high of four thousand
US dollars and ninety six cents US goal futures for
decemberly rereached four twenty US dollars per ounce. Spot gold
is up fifty two percent year to date after rising
twenty seven percent last year. A bunch of factors in
that higher central bank purchases, renewed interest in gold backed

(01:48):
exchange traded funds, softer US dollars, resilient retail demand all
have fueled the metal's bullish run. Also been a bit
of fomo going on there too. Story number three. Australia
and Singapore all have committed to closer ties with Prime
Minister Anthony Albernezi and his Singaporean counterpart Lawrence Wong launching
an upgraded Comprehensive Strategic partnership today. This year marks sixty

(02:11):
years of diplomatic relations between the two countries, ten years
of a comprehensive strategic partnership. That partnership two point zero,
as Albernizi called it, aims to increase defense cooperation, expand
economic partnerships on supply chains, and deepen cultural ties. Prime
Minister Wong said the partnership will seek to give Australia
greater access to Singapore's air and naval bases straight um before.

(02:33):
The Albanesi government has stopped eighty six million dollars in
fraudulent and wrongful National Disability Insurance Scheme claims, but has
had to spend more than half eight billion dollars implementing
the crackdown. The rejected claims are among one hundred thousand
from NDIS providers, plan managers and participants scrutinized by the
independent statutory Agency in the twenty four to twenty five

(02:55):
Financial Air NDIS Minister Jenny McCallister said twenty thousand high
risk clims were reviewed each month. These account for just
zero point one percent of the fifteen point two million
claims made over the same period. Experts, including the Gratin Institute,
have repeatedly said cracking down on fraud doesn't achieve meaningful
savings that can only be done through a structural overhaul

(03:16):
of the NDS, and story number five a little left
field for a business program. But fears are growing for
Dolly Parton's health after the country music superstar canceled shows
and her sister posted an emotional message to fans on
social media. Free to Parton posted, I quote last night,
I was up all night praying for my sister Dolly.

(03:36):
She's strong, she's loved, and with all the prayers being
lifted for her, I know in my heart she's going
to be just fined. Godspeed, my cissy, Dolly. We all
love you now. Dolly Parton is an absolute legend of
the music industry, not just country music, but all music.
She canceled a series of Vegas shows. At the time
of those cancelations a couple of months ago, she posted,

(03:58):
as many of you know, I have been dealing with
some health challenges and my doctors tell me I must
have a few procedures. As I joked with them, it
must be time for my one hundred thousand mile checkup.
Although it's not the usual trip to see my plastic surgeon,
a tremendous individual, we wish her the best. That's it's
the afternoon Report for Wednesday, the eighth of October twenty
twenty five. Make sure you hit follow on the podcast.
We will be back tomorrow morning with the Thursday edition

(04:20):
of Fear and Green Business News. I'm sure I Alma,
enjoy your evening.