FEAR & GREED | Business News Afternoon Report | ASX close to record
Jun 4, 2025
The podcast dives into recent market movements, highlighting the Commonwealth Bank reaching a record valuation and the ASX 200 inching closer to its all-time high. It discusses the implications of Europe-Australia trade talks and significant political shifts, including a key teal party win. Listeners learn about Westpac facing a lawsuit and the Dutch government collapsing, underscoring how political events impact the business landscape.
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Commonwealth Bank Record Boosts ASX
- Commonwealth Bank hit a new record value over $300 million, boosting the ASX 200 close to its all-time high.
- Energy, consumer discretionary, and financial sectors drove the gains while consumer staples lagged behind.
Australia's Weak Economic Growth
- Australia's economy grew by only 0.2% in the March quarter, lowering annual growth to 1.3%.
- This weak economic growth contrasts with strong commodity prices and stock performances.
Europe-Australia Trade Talks Renewed
- Trade talks between Australia and Europe resumed after collapse in 2023, signaling a need for pragmatic negotiations.
- European Commission President Ursula von der Leyen plans to visit Australia, anticipating a trade deal.