FEAR & GREED | Business News Afternoon Report | ASX, politics and Lendlease’s royal sale
May 19, 2025
Dive into the latest market fluctuations and discover how Moody's downgrades and China's industrial performance create ripples in the Australian financial scene. Get insights into major political happenings, including Prime Minister Albanese's backing of Ukraine. Plus, don't miss the intriguing details surrounding Lendlease's significant sale and the unexpected conversation between Putin and Trump. This analysis is a whirlwind of business developments and political dynamics!
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Market Impact from Global Events
- Moody's downgrade of US government debt and China's industrial output drop hurt Australian market sentiment.
- Energy and mining stocks led declines while some large caps like Commonwealth Bank held gains.
Coal Slump and Corporate Changes
- Coal producer New Hope lowered its sales outlook amid a prolonged price slump but sees early rebound signs.
- Mineral Resources named a non-mining chairman to mend company image after scandals.
Australia's Support for Ukraine
- PM Albanese committed to sending more tanks to Ukraine during a meeting with Zelensky at the Vatican.
- Discussions included sanctions on Russia and prospects for closer EU-Australia defense ties.