Afternoon Report | ASX lower for the week
episodeTranscript
jump: chapters · speakers · find in transcriptTranscript
Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Welcome to the Fear and Greed Business News Afternoon Report for Friday the 17th of April 2026. I'm Sean Aylmer. Every afternoon we've got the five stories that happened today that you need to know about. Story number one, the S&P ASX 200 finished down slightly today to 8,947 points, meaning for the week the bourse was off about 0.1%, 0.2%.
uncertainty around the potential for an extension of the US-Iran ceasefire is dominating trading. The tech index was the best performer today, while the consumer discretionary sector was worst. The latter is being hit by growing concerns of a recession in Australia later in the year. The big banks were generally lower today, while the miners were higher. The more defensive stocks did best among the top performers by now-pay-later group Zipco. It rose 15% after releasing a trading update. Story number two, Australia and Japan will tomorrow announce the signing of a $10 billion contract for three Japanese-built frigates as the two countries deepen military cooperation in response to China's rise. The Financial Review is reporting that the two countries' defence ministers will meet in Melbourne and announce the contract.
Richard Miles, our defense minister, selected Japan's Megami design last year for the Navy's general purpose frigate program after an independent surface fleet review recommended rapidly acquiring 11 light frigates of about 5,000 tons to expand the fleet and boost missile capacity. Story number three, former war hero Ben Robert Smith has been granted bail after 10 days in custody, having been charged with war crimes over the alleged murders of five unarmed detainees in Afghanistan.
Why did the ASX 200 finish lower this week?
His release is subject to a series of conditions, and Robert Smith appeared at the bail hearing via an audiovisual link from Sydney's Silverwater Jail. Judge Greg Gogan said there was no dispute the offences with which Robert Smith were charged were serious and, if proven, would lead to a lengthy prison sentence. But he said the matter would take years to get before the court and Robert Smith would surely spend years in custody if he was not released on bail. Story number four, US President Donald Trump has again lashed out at Australia over its lack of commitment to the war in Iran. The president said he was particularly upset with Australia for not supporting his actions in the Strait of Hormuz.
He said, I quote, I'm not happy with Australia because they were not there when we asked them to be there, end quote. Prime Minister Anthony Albanese has always contended that the US has never asked Australia officially for help. Trump also said prospects for a deal with Iran were looking very good. and the two sides were in discussions to extend a truce ahead of its expiration next week. Also, Israeli Prime Minister Benjamin Netanyahu said he's agreed to a 10-day ceasefire in Lebanon. And story number five, Europe is certainly hoping for the Strait of Hormuz to reopen soon. After the International Energy Agency said the region had maybe six weeks or so of remaining jet fuel supplies, Executive Director Fatih Birol warned of possible flight cancellations if oil supplies remain disrupted, calling the situation the largest energy crisis we've ever faced.
That's it for the afternoon report for Friday, the 17th of April, 2026.
Make sure you're following the podcast and head along to fairandgreed.com.au to sign up for our free daily newsletter. I'm Sean Aylmer. Enjoy your evening.
No segments match your search.
Select any passage to copy it with its citation or turn it into a shareable card.
Chapters
2 chaptersSpeakers
2 identifiedMore from FEAR & GREED | Business News
RBA readies for rate hike; PM touts AI control; $50b listing for ASX
Q+A: The Week Ahead | 21 Sep 2026
Money advice for your 20-year-old self
The Saturday Edition | 19 Sep 2026
Afternoon Report | ASX flat after rates warning
Students, backpackers migration hit; BHP’s carbon backdown; shoplifting surges