School holiday costs are climbing with $275 million a day being spent on activities for children. See omnystudio.com/listener for privacy information.

Matt Bowen, ING Head of Consumer and Market Insights

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Headline inflation rises to 3.6% sparking talks for RBA rate hikes; EVs being developed for 2000km road trips; Anglo American rejects a BHP proposal for an extension to get a takeover deal done; we’re living longer than ever before; and Kate Hanrahan joins us for the Market Wrap.
Host: Deborah Knight
Executive Producer: Tom Storey
Technical Producer: Francis Fuller
Publisher: Nine Radio See omnystudio.com/listener for privacy information.

Money News with Deborah Knight - 29th May

BHP will ask for even more time to get a takeover deal for resources giant Anglo American done.


ASX200: down 1.30% to 7,665
AUD: buying 66.54 US cents
GOLD: $2,371 USD/oz
BITCOIN: $101,857 AUD



Every sector was in the red, with Industrials, Staples and Financials all falling more than 1.5%
A fall in the iron ore price wasn’t great news for our miners, as Fortescue lost 3.6% to $25.57 and Rio Tinto was down 1.5% to $129.66.
Recent jumps for Neuren Pharmaceuticals were offset by falls of 9.3% today.
Lendlease shed 2.4% after it said it had struck a deal to sell off its US construction business.
And a poor day for Consumer Staples stocks, with Woolworths down 1.3%, Coles dropping 2%, and Treasury Wines off 4.5%.
Heading the other way was Fisher & Paykel, which had good optimism on 2025 net profit, with shares up 3.7%.
Gold miner Ramelius may have dropped 7.3% on news of a possible deal, but on the other side of it Westgold Resources climbed 6.5%.
And BHP finished the day flat as the next deadline for its Anglo-American deal approaches – although the Big Australian announced to the market late today it wants more time to get it done.
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The Market Wrap with Kate Hanrahan, Private Client Adviser, Sequoia Wealth Management

Headline inflation for the month of April rose to 3.6% year on year, killing off hopes of rate cuts and putting hikes back on the table. See omnystudio.com/listener for privacy information.

Warren Hogan, Managing Director of EQ Economics

We’re living longer than ever before, but how can we translate a life that’s increasing in length with some financial goals that match? See omnystudio.com/listener for privacy information.

Kaye Fallick, Retirement Commentator

The Australian share market fell by 1.3% after the monthly inflation figure suggested that fiscal & monetary policy might have a lot more work to do to hit the 2-3% target range. See omnystudio.com/listener for privacy information.

Matt Bowen, ING Head of Consumer and Market Insights

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