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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Thursday, the twelfth of February twenty twenty six. Are

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Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: story number one. The S and PA s X two

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Speaker 1: hundred hit an intra day high today of nine thousand,

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Speaker 1: one hundred and five points, but it couldn't quite hold on,

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Speaker 1: and a late sell off in the tech sector saw

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Speaker 1: the boss end of the day at nine thousand and

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Speaker 1: forty four points, not quite as good as looking earlier,

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Speaker 1: but still up zero point three percent for the day.

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Speaker 1: The big story was A and Z. The bank announced

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Speaker 1: a quarterly profit of one point nine four billion dollars,

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Speaker 1: which was largely driven by cost cutting after thousands of

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Speaker 1: job cuts. Investors clearly liked what they heard. A and

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Speaker 1: Z's share price climbed eight point five percent. That is

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Speaker 1: its best day in six years. The rest of the

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Speaker 1: banks went well to Commonwealth Bank added to its stellar

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Speaker 1: result yesterday with another five point four percent climb Today.

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Speaker 1: Westpac and NAB were both up two percent. But I

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Speaker 1: mentioned the tech stocks Wisetech Global zero and Technology One

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Speaker 1: were all sold off. They tumbled last week after fears

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Speaker 1: out of the US that AI was really going to

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Speaker 1: disrupt software providers. The sector rallied earlier in the week,

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Speaker 1: but today the slump resumed after a pretty poor lead

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Speaker 1: in from US tech stocks and the other one worth

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Speaker 1: a mention, Biotech CSL dropped almost seven percent today, adding

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Speaker 1: to its losses from yesterday after its poor earnings result

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Speaker 1: and the sudden departure of its CEO. Plenty of other

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Speaker 1: companies reporting results. I'll get to a few more in

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Speaker 1: a little bit. Story number two, it is official Angus

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Speaker 1: Taylor is challenging Opposition leader Susan Lee for the Liberal

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Speaker 1: Party leadership, with a meeting now set for nine am tomorrow.

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Speaker 1: In a fairly chaotic day at Parliament House, Taylor confirmed

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Speaker 1: he was running and had a bunch of MPs quit

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Speaker 1: the front bench as back as formally called then for

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Speaker 1: a party room ballot. There was a social media video

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Speaker 1: out from Angus Taylor saying that he was running because

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Speaker 1: quote Australia is worth five. He argued that Liberals had

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Speaker 1: lost their way and that they needed strong and decisive leadership.

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Speaker 1: Senior Liberal James Patterson, who resigned from Lee's shadow ministry,

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Speaker 1: said he no longer had confidence in her in her

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Speaker 1: ability to turn this ship around. He called Angus Taylor

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Speaker 1: the smartest policy mind in the shadow cabinet. Taylor's camp

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Speaker 1: says it has the numbers. Others say the messy rollout

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Speaker 1: of his challenge may have cost him support, but we

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Speaker 1: shall find out tomorrow morning at nine am. Story number three.

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Speaker 1: AMP shares have recorded their worst day in more than

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Speaker 1: two decades, falling more than twenty eight percent after it

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Speaker 1: reported a lower full year profit. Net profit fell eleven

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Speaker 1: percent to one hundred and thirty three million dollars in

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Speaker 1: twenty twenty five, way down by one off costs linked

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Speaker 1: to legacy class action settlement stemming from the Hain Royal Commission.

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Speaker 1: While the once blue chip company doubled its final dividend,

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Speaker 1: analyst said the market had been looking for stronger capital management.

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Speaker 1: The wealth platform business was the stand out performer, benefiting

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Speaker 1: from advisors shifting clients out of industry funds and into

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Speaker 1: retail offerings. It is the last result for outgoing CEO

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Speaker 1: Alexis George, who retires at the end of next month.

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Speaker 1: Story number four. It is as I've mentioned, several times

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Speaker 1: now earning season, A bunch of companies were reporting results today.

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Speaker 1: A quick wrap of some of the bigger results. Insurance

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Speaker 1: Australia Group said severe weather in Queensland late last year

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Speaker 1: saw a surge in claims at the RACQ business that

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Speaker 1: IOG had bought that hit net profit at share price

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Speaker 1: fell six percent. A growing number of home barristers has

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Speaker 1: helped Revel Group rereach record revenue. A lot of ours

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Speaker 1: there in the December half, with share price up one

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Speaker 1: and a half percent. Temple and Webster plunged thirty one

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Speaker 1: percent today after a slump in net profit, and medical

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Speaker 1: imaging group Bomticus tumbled twenty three percent after earnings disappointed

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Speaker 1: for the December half, even though profit in the half

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Speaker 1: was up two hundred and thirty one percent. Some very

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Speaker 1: big moves. Finally, story number five. Canadian police have identified

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Speaker 1: the shooter behind a school massacre in British Columbia as

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Speaker 1: an eighteen year old who previously had contact with police

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Speaker 1: over mental health issues. Officials in the remote community of

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Speaker 1: tumblr Ridge say Jesse Van Rutzla was a biological male

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Speaker 1: who began to identify as female about six years ago.

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Speaker 1: Previously attended tumblr Ridge Secondary School before dropping out about

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Speaker 1: four years ago. At The death toll in yesterday's shooting

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Speaker 1: has been revised to nine, including the shooter, who died

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Speaker 1: by suicide at Police say the attacker first killed her

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Speaker 1: mother and eleven year old stepbrother at the family home

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Speaker 1: before going to the school, where a teacher and five

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Speaker 1: students were killed. Prime Minister Mark Carney has ordered flags

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Speaker 1: to fly at half massed for seven days. There'll also

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Speaker 1: be a day of mourning which will be held really

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Speaker 1: as the country comes to terms with one of the

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Speaker 1: worst mass shootings in Canada's history. That's it for the

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Speaker 1: Afternoon Report for Thursday, the twelfth of twenty twenty six.

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Speaker 1: Make sure you're following the podcast and please head along

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Speaker 1: to Fearangreed dot com dot au to sign up for

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Speaker 1: our free daily newsletter. I'm Michael Thompson. Enjoy your ref