1 00:00:03,680 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,440 --> 00:00:09,200 Speaker 1: for Thursday, the twentieth of February twenty twenty five. I'm 3 00:00:09,240 --> 00:00:11,920 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:12,000 --> 00:00:14,880 Speaker 1: happened today that you need to know about. Sorry number one, 5 00:00:15,040 --> 00:00:17,520 Speaker 1: it was super Thursday on the AX today, with some 6 00:00:17,640 --> 00:00:21,119 Speaker 1: of the country's biggest companies reporting. Telks for a share 7 00:00:21,120 --> 00:00:24,280 Speaker 1: price jump draft it said it will spend up big 8 00:00:24,520 --> 00:00:28,080 Speaker 1: on mobile phones. Super Retail Group announced a lower net 9 00:00:28,120 --> 00:00:31,080 Speaker 1: profit for December half. It's battling a downturn and spending 10 00:00:31,320 --> 00:00:34,400 Speaker 1: in the automotive sector, which is hurting its super cheap 11 00:00:34,440 --> 00:00:37,440 Speaker 1: auto business and forcing it to discount products. Its share 12 00:00:37,440 --> 00:00:39,639 Speaker 1: price finished down twelve percent, the worst of the top 13 00:00:39,680 --> 00:00:42,360 Speaker 1: two hundred. On the other end of the spectrum, almost 14 00:00:42,360 --> 00:00:44,960 Speaker 1: the best was white Haven Coal. Its earnings rose by 15 00:00:45,000 --> 00:00:47,280 Speaker 1: a third and a half a year to December, owing 16 00:00:47,280 --> 00:00:51,159 Speaker 1: to a strong performance from newly acquired minings. Story number two. 17 00:00:51,240 --> 00:00:54,000 Speaker 1: The S and PA six two hundred finished down more 18 00:00:54,040 --> 00:00:57,360 Speaker 1: than one percent today to close at eighty three hundred 19 00:00:57,400 --> 00:01:00,600 Speaker 1: and twenty three points away from earnings results. The banks 20 00:01:00,680 --> 00:01:03,560 Speaker 1: are causing us to among investors. A and Z provided 21 00:01:03,560 --> 00:01:07,240 Speaker 1: a quarter report today, It said lending growth was decent, 22 00:01:07,680 --> 00:01:09,880 Speaker 1: but there is a pick up in impaired loans. Its 23 00:01:09,920 --> 00:01:13,039 Speaker 1: share price fell three percent. National Australia Bank and Westpact 24 00:01:13,040 --> 00:01:15,839 Speaker 1: were also off three percent. In fact, over the past week, 25 00:01:16,319 --> 00:01:20,240 Speaker 1: the banking index in the market is down nine percent. 26 00:01:20,680 --> 00:01:23,400 Speaker 1: All the majors have been sold off, led by National 27 00:01:23,400 --> 00:01:28,240 Speaker 1: Australia Bank. Sorry number three. The country's largest conglomerate, Wes Farmers, 28 00:01:28,520 --> 00:01:30,920 Speaker 1: has announced to jump in revenue and sales thanks to 29 00:01:31,080 --> 00:01:33,680 Speaker 1: Bunnings and Kmart. For the six months, net profit at 30 00:01:33,720 --> 00:01:35,679 Speaker 1: Wes came in at one and a half billion dollars, 31 00:01:36,040 --> 00:01:38,960 Speaker 1: much higher than analysts expected. Its share price jump one 32 00:01:39,000 --> 00:01:41,800 Speaker 1: percent as a result. So too did its diffident and 33 00:01:41,920 --> 00:01:45,360 Speaker 1: that was higher. Bunnings is by far the biggest division 34 00:01:45,520 --> 00:01:48,840 Speaker 1: in wes Farmers. Its sales are up three percent. Popular 35 00:01:48,880 --> 00:01:52,960 Speaker 1: at the moment gardening products, power tools, home maintenance goods, 36 00:01:53,000 --> 00:01:56,280 Speaker 1: stuff like that, Camars doing well as also eighty five 37 00:01:56,280 --> 00:01:59,639 Speaker 1: percent of sales that came out are the Enco home brand. 38 00:02:00,000 --> 00:02:02,000 Speaker 1: That's doing very well as I was selling that through 39 00:02:02,040 --> 00:02:05,040 Speaker 1: Walmart in Canada. Office works is doing pretty well too. 40 00:02:05,480 --> 00:02:08,160 Speaker 1: Story number four to two of the three big miners 41 00:02:08,200 --> 00:02:11,960 Speaker 1: Fortescue Metals and Rio Tinto reported today and both stocks 42 00:02:11,960 --> 00:02:14,639 Speaker 1: were sold off by investors. At Rio, profit fell by 43 00:02:14,680 --> 00:02:18,200 Speaker 1: eight percent. Rao will pay its lowest dividend in seven 44 00:02:18,320 --> 00:02:21,120 Speaker 1: years on the back of higher production costs and lower 45 00:02:21,120 --> 00:02:24,280 Speaker 1: commodity prices. That's where the squeeze is. Rio has plans 46 00:02:24,320 --> 00:02:26,320 Speaker 1: to cut costs at its local iron ore division as 47 00:02:26,320 --> 00:02:29,160 Speaker 1: it adapts to weak demand from China. A share price 48 00:02:29,160 --> 00:02:31,840 Speaker 1: finished down a couple of percent. Some good news though, 49 00:02:31,840 --> 00:02:34,440 Speaker 1: from the iron ore division. Japanese giant Mitsui will pay 50 00:02:34,560 --> 00:02:39,080 Speaker 1: five point four billion US dollars for forty percent stake 51 00:02:39,240 --> 00:02:42,440 Speaker 1: in the road's ridge mine. At fort esqu The profit 52 00:02:42,480 --> 00:02:44,440 Speaker 1: for the six months to the end of December halved 53 00:02:44,560 --> 00:02:46,680 Speaker 1: on the back of a lower prices. Was a much 54 00:02:46,760 --> 00:02:49,880 Speaker 1: good news in the outlook statement either, that group's share 55 00:02:49,919 --> 00:02:52,560 Speaker 1: price fell six percent and story number five, let's see 56 00:02:52,600 --> 00:02:54,200 Speaker 1: if we can get through a bunch of earnings in 57 00:02:54,240 --> 00:02:57,160 Speaker 1: about thirty seconds tole roaded group. Transurban reported to jump 58 00:02:57,160 --> 00:03:01,440 Speaker 1: in net profit. Basically travel flow. Traffic flows are higher 59 00:03:01,440 --> 00:03:04,760 Speaker 1: in Sydney, Melbourne, Brisbane and North America. Why because that 60 00:03:04,880 --> 00:03:07,280 Speaker 1: work from home thing is petering out. People going back 61 00:03:07,320 --> 00:03:09,640 Speaker 1: into the office. Earnings at TAB Cork came in just 62 00:03:09,639 --> 00:03:12,760 Speaker 1: ahead of expectations thanks to some cost cutting. Its share 63 00:03:12,760 --> 00:03:16,400 Speaker 1: price jumped four percent huedos to Gil mcgloughlin, former boss 64 00:03:16,400 --> 00:03:18,320 Speaker 1: of the AFL, who is now running TAB Corp and 65 00:03:18,360 --> 00:03:21,480 Speaker 1: doing a pretty good job. And Supply Chain Logistics Group 66 00:03:21,520 --> 00:03:24,040 Speaker 1: Brambles up to its half year dividend and posted higher 67 00:03:24,080 --> 00:03:26,960 Speaker 1: sales and earnings share Its share price closed up one 68 00:03:27,000 --> 00:03:29,960 Speaker 1: point six percent. That's it for the afternoon report for Thursday, 69 00:03:30,040 --> 00:03:32,840 Speaker 1: the twenty February twenty twenty five. Make sure you hit 70 00:03:32,880 --> 00:03:34,880 Speaker 1: follow on the podcast. We will be back tomorrow morning 71 00:03:34,920 --> 00:03:37,520 Speaker 1: with the Friday edition of Beer and Greed Business News. 72 00:03:37,800 --> 00:03:39,760 Speaker 1: I'm Sean Elmer. Enjoy your evening.