FEAR & GREED | Business News Afternoon Report | Gold miners rally
Oct 31, 2025
In today's discussion, the ASX showed mixed performance with gold miners seeing a rally. Meta's stock took a hit after warnings about increased AI spending and tax charges. ANZ announced a staggering $1.1 billion profit impact under its new CEO. There's a political stir with the Liberal Party reconsidering its net-zero stance, stirring business uncertainty. Meanwhile, ResMed is set to double its US manufacturing capacity with a new plant in Indianapolis. Lastly, Buckingham Palace decided to strip Prince Andrew of his royal titles.
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Market Mixed As Gold Boosts Miners
- The S&P/ASX 200 closed slightly down while gold miners and major banks showed divergent moves today.
- Gold near US$4,000 lifted miners like Northern Star and Evolution, while some retail and brokers lagged.
ANZ Flags $1.1bn Hit Under New CEO
- ANZ will book a $1.1 billion after-tax hit as Nuno Matos accelerates restructuring and integration costs.
- The charges include job cuts, ASIC fines, Suncorp Bank integration and other write-offs but capital ratios stay above requirements.
Liberals Split Over Net Zero Commitment
- The Coalition is fracturing on net zero with conservatives wanting to drop the term and moderates fearing voter backlash.
- The party will delay final climate policy until well after the next election, creating business uncertainty on targets.