FEAR & GREED | Business News Afternoon Report | ASX climbs 0.8pc
6 snips
Oct 12, 2026 The ASX rises 0.8% as mining, banking and tech stocks lead the advance. Firmus founder Oliver Curtis criticises Australia’s scepticism after the company abandons its proposed listing. Anthony Albanese defends his small-business record amid cost pressures, while Sydney airport transport links face delays. McKinsey removes a senior partner following controversial comments about women’s advancement.
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Miners And Banks Drive The ASX Higher
- The ASX gained 0.8% as miners and banks outweighed concerns about rising global bond yields.
- BHP rose 2.5%, NAB and Westpac exceeded 2%, while Telstra fell 2.5% and TPG Telecom nearly 5%.
Mars Group Falls After Firmus Float Collapse
- Mars Group plunged another 16% after the collapse of Firmus’s planned float.
- The company’s decline illustrated the wider fallout from investor rejection of Firmus’s valuation.
Firmus Founder Defends Failed $44 Billion IPO
- Firmus founder Oliver Curtis defended the company after its proposed $44 billion IPO collapsed.
- He said Australians discourage risk-taking and warned technology companies could move offshore, while Firmus reportedly seeks $4.3 billion privately.