Afternoon Report | ASX down for day, up for year
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Welcome to the Fear and Greed Business News Afternoon Report for Tuesday the 30th of June 2026. I'm Michael Thompson and every afternoon we've got the five stories that happened today that you need to know about. Let's get cracking. Story number one, it is the end of the financial year and Australian shares slipped on the final day of FY26. As investors rebalanced portfolios and weaker commodity prices weighed on mining stocks, the S&P ASX 200 fell half a percent today. to 8,779 points, although the Bourse did still finish the financial year up nearly 3%, and it also notched its third straight month of gains. Today, though, mining stocks were the biggest drag. Gold slipped below $4,000 an ounce. Aluminium headed for its biggest monthly fall since the global financial crisis.
BHP and Rio Tinto Both lost a bit of ground while the gold miners were among the market's worst performers. Regis Resources, for instance, was down almost 7%. Northern Star off nearly 6%. Newmont more than 2%.
Why did the ASX decline on the last day of the financial year?
The property companies were the worst though. While tech stocks bucked the trend, Megaport and Life360 both gained ground today. Story number two, almost half of businesses have reported a jump in expenses in the past four weeks with fuel prices, perhaps unsurprisingly, being the main reason. The increases also relate to staffing and overhead costs. These figures are from the Supply chain disruptions resulting from the Middle East conflict are continuing to significantly affect many Australian businesses. Transport, postal and warehousing was the industry most impacted by rising fuel costs. No surprises there. 99% of businesses in that space are impacted, followed by agriculture, forestry and fishing at 96% and construction then at 87%.
Story number three, a bit of corporate news around today to finish off the financial year. KFC operator Collins Foods, well, its share price fell today as slowing sales in Germany offset a bit of an improvement in underlying profit for the 2026 fiscal year. It closed two and a half percent lower today. Atlas Arteria rose after IFM investors increased at stake to 55%. And as it's $5.10 a share takeover offer for the toll road operator moves into its final week and Neuron Pharmaceuticals jumped to its highest level since January as investors continue to buy into the stock after the European regulator backed the company's Rett syndrome drug debut, reversing an earlier decision. We talked about this yesterday afternoon and then again this morning on the show.
Shares rose 36% yesterday and a further 7.5% today. Story number four, the Fair Work Commission has ordered an AGL employee to attend the office for just four hours every fortnight. In the latest battle over work from home rights, News Limited reports the employee who sought rather to work permanently from home while caring for a family member who is unwell, rejected the company's proposal to attend the office for one four-hour shift every two weeks. The dispute ended up before the Fair Work Commission, which ruled that AGL's compromise was fair and reasonable, saying that employers do have legitimate business grounds to require some face-to-face contact for training, mentoring and performance management.
The six-month arrangement will see the employee attend the office just 12 times in total while otherwise continuing to work from home. The decision you would expect is likely to be closely watched as employers and workers continue to negotiate these flexible working arrangements. And finally, story number five, it's been a very big day for the US President Donald Trump in the Supreme Court over there. The court handed the president a major victory by dramatically expanding presidential power over independent government agencies, while also reminding him that there are limits to that authority. The court ruled that presidents have broad powers to remove officials from independent regulatory bodies,
Overturning a legal precedent that has stood for almost 90 years, Trump hailed the decision as a landmark expansion of presidential authority, but the Supreme Court also delivered two significant setbacks.
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Chapters
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