1 00:00:04,200 --> 00:00:06,920 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,960 --> 00:00:09,720 Speaker 1: for Thursday, the twentieth of February twenty twenty five. I'm 3 00:00:09,760 --> 00:00:12,440 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:12,440 --> 00:00:14,680 Speaker 1: have happened today that you need to know about. Sorry 5 00:00:14,760 --> 00:00:17,800 Speaker 1: number one. It was super Thursday on the AX today 6 00:00:17,800 --> 00:00:21,640 Speaker 1: with some of the country's biggest companies reporting. Telstra's share 7 00:00:21,640 --> 00:00:25,160 Speaker 1: price jump, Draft said it will spend up big on 8 00:00:25,280 --> 00:00:28,960 Speaker 1: mobile phones. Super Retail Group announced the lower net profit 9 00:00:29,000 --> 00:00:31,960 Speaker 1: for December half. It's battling a downturn and spending in 10 00:00:31,960 --> 00:00:35,240 Speaker 1: the automotive sector, which is hurting its super cheap auto 11 00:00:35,320 --> 00:00:38,200 Speaker 1: business and forcing it to discount products. Its share price 12 00:00:38,200 --> 00:00:40,760 Speaker 1: finished down twelve percent, the worst of the top two hundred. 13 00:00:41,280 --> 00:00:43,240 Speaker 1: On the other end of the spectrum, almost the best 14 00:00:43,280 --> 00:00:45,880 Speaker 1: was white Haven Coal. Its earnings rose by a third 15 00:00:45,920 --> 00:00:47,960 Speaker 1: and a half a year to December, owing to a 16 00:00:47,960 --> 00:00:51,879 Speaker 1: strong performance from newly acquired minings. Story number two. The 17 00:00:51,960 --> 00:00:54,680 Speaker 1: S and PA six two hundred finished down more than 18 00:00:54,720 --> 00:00:57,960 Speaker 1: one percent today to close at eighty three hundred and 19 00:00:57,960 --> 00:01:01,320 Speaker 1: twenty three points away from earnings results. The banks are 20 00:01:01,360 --> 00:01:04,160 Speaker 1: causing us to among investors. A and Z provided a 21 00:01:04,240 --> 00:01:08,280 Speaker 1: quarter report today, It said lending growth was decent, but 22 00:01:08,520 --> 00:01:10,640 Speaker 1: there is a pick up in impaired loans. Its share 23 00:01:10,640 --> 00:01:13,680 Speaker 1: price fell three percent. National Australia Bank and Westpact were 24 00:01:13,680 --> 00:01:16,360 Speaker 1: also off three percent. In fact, over the past week, 25 00:01:16,840 --> 00:01:20,759 Speaker 1: the banking index in the market is down nine percent. 26 00:01:21,200 --> 00:01:23,920 Speaker 1: All the majors have been sold off, led by National 27 00:01:23,920 --> 00:01:28,759 Speaker 1: Australia Bank. Sorry number three. The country's largest conglomerate, Wes Farmers, 28 00:01:29,040 --> 00:01:31,440 Speaker 1: has announced to jump in revenue and sales thanks to 29 00:01:31,600 --> 00:01:34,200 Speaker 1: Bunnings and Kmart. For the six months, net profit at 30 00:01:34,240 --> 00:01:36,199 Speaker 1: Wes came in at one and a half billion dollars, 31 00:01:36,560 --> 00:01:39,480 Speaker 1: much higher than analysts expected. Its share price jump one 32 00:01:39,520 --> 00:01:42,320 Speaker 1: percent as a result, So too did its diffident and 33 00:01:42,440 --> 00:01:45,880 Speaker 1: that was higher. Bunnings is by far the biggest division 34 00:01:46,040 --> 00:01:49,360 Speaker 1: in wes Farmers. Its sales are up three percent. Popular 35 00:01:49,400 --> 00:01:53,480 Speaker 1: at the moment gardening products, power tools, home maintenance goods, 36 00:01:53,520 --> 00:01:56,800 Speaker 1: stuff like that. Camars doing well as Also eighty five 37 00:01:56,800 --> 00:01:59,360 Speaker 1: percent of sales that came out are the Enco Home 38 00:01:59,720 --> 00:02:02,520 Speaker 1: brand and that's doing very well. Also selling that through 39 00:02:02,560 --> 00:02:05,560 Speaker 1: Walmart in Canada. Office Works is doing pretty well too, 40 00:02:06,000 --> 00:02:08,679 Speaker 1: strowing number four to two of the three big miners 41 00:02:08,720 --> 00:02:12,480 Speaker 1: Fortescue Metals and Rio Tinto reported today and both stocks 42 00:02:12,480 --> 00:02:15,160 Speaker 1: were sold off by investors. At Rio, profit fell by 43 00:02:15,200 --> 00:02:18,720 Speaker 1: eight percent. Rao will pay its lowest dividend in seven 44 00:02:18,840 --> 00:02:21,640 Speaker 1: years on the back of higher production costs and lower 45 00:02:21,639 --> 00:02:24,800 Speaker 1: commodity prices. That's where the squeeze is. Rio has plans 46 00:02:24,840 --> 00:02:26,840 Speaker 1: to cut costs at its local iron ore division as 47 00:02:26,840 --> 00:02:29,680 Speaker 1: it adapts to weak demand from China. A share price 48 00:02:29,720 --> 00:02:32,359 Speaker 1: finished down a couple of percent. Some good news though, 49 00:02:32,360 --> 00:02:34,959 Speaker 1: from the iron ore division. Japanese giant Mitsui will pay 50 00:02:35,080 --> 00:02:39,600 Speaker 1: five point four billion US dollars for forty percent stake 51 00:02:39,760 --> 00:02:42,920 Speaker 1: in the road's ridge mine at fort esqu The profit 52 00:02:43,000 --> 00:02:45,040 Speaker 1: for the six months to the end of December halved 53 00:02:45,080 --> 00:02:47,240 Speaker 1: on the back of a lower prices. Was a much 54 00:02:47,280 --> 00:02:50,400 Speaker 1: good news in the outlook statement either that group's share 55 00:02:50,440 --> 00:02:53,119 Speaker 1: price fell six percent and story number five, let's see 56 00:02:53,120 --> 00:02:54,720 Speaker 1: if we can get through a bunch of earnings in 57 00:02:54,760 --> 00:02:57,760 Speaker 1: about thirty seconds. Tolerated group Transurban reported to jump in 58 00:02:58,000 --> 00:03:01,960 Speaker 1: net profit. Basically, travel flow or traffic flows are higher 59 00:03:01,960 --> 00:03:05,280 Speaker 1: in Sydney, Melbourne, Brisbane and North America. Why because that 60 00:03:05,400 --> 00:03:07,800 Speaker 1: work from home thing is petering out. People going back 61 00:03:07,840 --> 00:03:10,160 Speaker 1: into the office earnings at tab Cork came in just 62 00:03:10,160 --> 00:03:13,280 Speaker 1: ahead of expectations thanks to some cost cutting. Its share 63 00:03:13,280 --> 00:03:16,920 Speaker 1: price jumped four percent. Hudos to Gil mcgloughlin, former boss 64 00:03:16,919 --> 00:03:18,840 Speaker 1: of the AFL, who is now running TAB Corp and 65 00:03:18,880 --> 00:03:22,000 Speaker 1: doing a pretty good job. And Supply Chain Logistics Group 66 00:03:22,040 --> 00:03:24,560 Speaker 1: Brambles up to its half year dividend and posted higher 67 00:03:24,600 --> 00:03:27,480 Speaker 1: sales and earnings share Its share price closed up one 68 00:03:27,520 --> 00:03:30,800 Speaker 1: point six percent. That's it for the afternoon report for Thursday, 69 00:03:30,840 --> 00:03:32,919 Speaker 1: the twentieth of February twenty twenty five. Make sure you 70 00:03:33,000 --> 00:03:35,240 Speaker 1: hit follow on the podcast. We will be back tomorrow 71 00:03:35,280 --> 00:03:37,840 Speaker 1: morning with the Friday edition of the Fast five Business 72 00:03:37,880 --> 00:03:41,200 Speaker 1: News by Fire and Greed. I'm Sean Elmer. Enjoy your reading.