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Speaker 1: Welcome to the Fearing Green Business News Afternoon Report for Monday,

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Speaker 1: the twentieth of May twenty twenty four. I'm sure, alma,

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Speaker 1: every afternoon, we've got the five stories that happen today

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Speaker 1: that you need to know about.

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Speaker 2: Story number one. The local share market moved.

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Speaker 1: Within twenty six points of its record high today, touching

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Speaker 1: eight hundred and seventy one points, before finishing up just

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Speaker 1: over half percent to seven eight hundred and sixty three

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Speaker 1: point seven points. Now that means it's just thirty three

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Speaker 1: points off its record close of eight hundred and ninety

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Speaker 1: six point four points. The energy and material sectors were

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Speaker 1: the best performers, with BHP, Santos of Woodside all closing

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Speaker 1: up around two percent, while Rea Tinto finished three percent

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Speaker 1: high the rally and the miners came amid a big

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Speaker 1: jump in metals prices. The gold stocks also did well,

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Speaker 1: with Evolution Mining, Gold Road Resources and Regis all performing strongly.

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Speaker 1: The lagguards included CSL West Farmers, Goodman Group, Woolli's Transurban,

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Speaker 1: Wise Tech Global, and Telstrap. Our number two agribusiness Elders,

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Speaker 1: has announced its worst profit in a decade after farmers

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Speaker 1: sold off cattle herds fearful of extended hot and dry conditions.

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Speaker 1: Elder's profit fell seventy six percent to under twelve million

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Speaker 1: dollars for the six months to the end of March,

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Speaker 1: and Boch's Mark Allison in part blamed it on an

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Speaker 1: incorrect prediction of El Nino weather conditions. The Bureau of

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Speaker 1: Meteorology warning last year triggered the sale of livestock, and

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Speaker 1: as result, farmers didn't buy supplies from Elders. Mister Allison

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Speaker 1: said the disappointing six months was a one off and

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Speaker 1: livestock markets have started to recover. Elders had warned of

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Speaker 1: the profit downgrade, and after today's announcement in mister Allison's comments,

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Speaker 1: the stock actually rose one percent.

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Speaker 2: Story number three. The share price of New He jumped

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Speaker 2: twenty five percent today after the software group said it

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Speaker 2: would be its target revenue growth of ten percent this

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Speaker 2: financial lim The group surprized today with an unscheduled trading

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Speaker 2: update after it said it had signed a multi year

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Speaker 2: contract with an undisclosed customer. Today's surge is some relief

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Speaker 2: from a shareholder who have seen the value of the

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Speaker 2: company four by about seventy percent since Listingnui is still

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Speaker 2: awaiting federal court judgment over allegations by Assek that it

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Speaker 2: misled the market in the wake of its initial public offering.

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Speaker 2: The company denies those claims. Story number four jewelry retailer

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Speaker 2: Michael Hill's share price tumble twenty three percent today after

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Speaker 2: it warned of a slump in sales. The group said

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Speaker 2: positive sales momentum had been expected through the second half,

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Speaker 2: in line with anticipated improvements in consumer sentiment and economic conditions,

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Speaker 2: but unfortunately that hasn't happened. While the business in Australia

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Speaker 2: is doing okay, the New Zealand operations are the most challenged.

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Speaker 2: Michael Hill went on to say that two of the

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Speaker 2: reasons were a decline in consumer credit approval rates across

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Speaker 2: the country and an increase in serious retail crime events

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Speaker 2: that's impacting a number of its stores. CEO of Michael

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Speaker 2: Hill International, Daniel Bracken said consumer discretionary spend and the

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Speaker 2: fine jewelry category in particular remains under pressure due to

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Speaker 2: macroeconomic forces. And finally, story number five, Iranian President Abraham Razi,

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Speaker 2: the country's foreign minister, and other officials are confirmed dead

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Speaker 2: after their helicopter crashed in the mountainous northwest regions of Iran.

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Speaker 2: Rescuers saw no signs of life as they approached the

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Speaker 2: helicopter from a distance. According to Iranian TV, the officials

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Speaker 2: had been missing for more than twelve hours after their

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Speaker 2: helicopter went down in dense fog, which had complicated subsequent

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Speaker 2: search efforts. Mister Razi, a conservative who violently crushed dissent,

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Speaker 2: was widely viewed as a possible successor to Iran Supreme Leader.

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Speaker 2: Iran under mister Razi and Supreme Leader Ayatolli Ali Kamani

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Speaker 2: launched a drone and missile attack on Israel last month

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Speaker 2: under his real uranium and Richmond has progressed to near

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Speaker 2: weapons grade levels. The economy has struggled, and there have

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Speaker 2: been unrest over women's rights. That's it the Afternoon.

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Speaker 1: Report for Monday, the twentieth of May twenty twenty four.

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Speaker 1: Michael Thompson and I will be back tomorrow morning with

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Speaker 1: a Jewish edition My Fearing Greed Business DearS.

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Speaker 2: I'm sure Almak enjoy reavening