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

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Speaker 1: the twenty fourth July twenty twenty four. I'm Sean Elma.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one. The

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Speaker 1: SMPA six two hundred closed down just to touch today

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Speaker 1: to seven nine hundred and sixty four points. The banks

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Speaker 1: were mixed to A and Z and Comwealth Bank lost ground,

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Speaker 1: while National Australia Bank, Westpac and mcquarie Group all rose.

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Speaker 1: The big miners were flat to slightly hire. Some of

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Speaker 1: the oil reliant companies like Woodside, Mpole, Beaver Energy and

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Speaker 1: Beach Energy lost ground on the back of the recent

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Speaker 1: drop in the price of crude. Property stocks were also lower,

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Speaker 1: with Goodman Group and Stockland both off two percent. Transurban

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Speaker 1: was another poor performer. A couple of the healthcare companies

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Speaker 1: did well. ResMed and Cochlear were both up more than

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Speaker 1: one percent. Story number two. There were quite a few

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Speaker 1: trading updates out today ahead of next month's earning season.

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Speaker 1: Telix Pharmaceuticals fell nearly seven percent after it abandoned plans

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Speaker 1: to list on the Nasdaq, and it raised six hundred

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Speaker 1: and fifty million dollars. Pilbrim Minerals shares jumped five percent

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Speaker 1: before finishing up slightly after it recorded a fifty eight

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Speaker 1: percent jump in revenue for the June quarter. Flight Center

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Speaker 1: dropped four and a half percent after it revised its

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Speaker 1: underlying profit for fiscal twenty four. The trouble company said

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Speaker 1: the change excluded four million dollars in losses from the

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Speaker 1: closure of its discovered Central America's destination management business, Perpetual,

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Speaker 1: dropped one percent after its assets under management fell to

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Speaker 1: two hundred and fifteen billion dollars as of June thirty.

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Speaker 1: That's down about twelve billion dollars out of the quarter

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Speaker 1: and Platinum Capital, another fund manager, its share price rose

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Speaker 1: four percent after announcing it was making changes to its

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Speaker 1: Platinum International Fund. Story number three one reeler tailor doing

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Speaker 1: pretty well at the moment is Repco, which is US owned.

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Speaker 1: The automotive parts group is growing just as major competitors

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Speaker 1: are fighting off takeover attempts. Repco is owned by New

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Speaker 1: York Listed, a genuine parts company, which reported that its

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Speaker 1: Australasian Automotive Paths operation had generated the same store sales

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Speaker 1: growth of two point three percent in the June quarter.

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Speaker 1: Now Repco has nearly five hundred stores in Australasia. Backcore

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Speaker 1: is the other major player. It runs Autobarn, Auto Pro,

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Speaker 1: Berson and Midas. It has about eleven hundred outlets selling

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Speaker 1: car parts to mechanics and motoring fans. Its same store

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Speaker 1: sales growth is forecast to come in at less than

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Speaker 1: one percent. According to report the Financial Review. Babcor officially

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Speaker 1: rejected a five dollars forty share offer from Bain on

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Speaker 1: July nine, saying it didn't represent fair value. It closed

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Speaker 1: today at five dollars eighteen, still below that, and it

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Speaker 1: looks like Repco is doing better. Story number four. The

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Speaker 1: number of Kiwis living in Australia has hit seven hundred

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Speaker 1: thousand for the first time thanks to rule changes which

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Speaker 1: helped New Zealand citizens gain residency here. There were thirty

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Speaker 1: five thousand new kiwis flowing into Australia in the eleven

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Speaker 1: months to the end of May, according to the Bureau

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Speaker 1: of Statistics. Before the pandemic, on average was about ten thousand.

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Speaker 1: Australia's economy, particularly the labor market, is stronger than New Zealand's,

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Speaker 1: while since January anyone granted an independent skill the visa

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Speaker 1: can immediately apply for Australian residency. According to report The

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Speaker 1: finn Review. Previously they had to wait for twelve months.

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Speaker 1: More than four and five kiwis who head overseas traveled

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Speaker 1: to Australia and story number five. Karmala Harris has quickly

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Speaker 1: emerged as a force to be reckoned with, even before

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Speaker 1: officially becoming the nominee for the Democrats. In her first

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Speaker 1: rally as leading candidate for the party, she said the

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Speaker 1: November election will be and I quote, a choice between

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Speaker 1: freedom and chaos. Miss Harris raised one hundred and fifty

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Speaker 1: million Aussie dollars from donors in the first three days,

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Speaker 1: and a rotez Ipsos poll overnight suggested she was two

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Speaker 1: percentage points ahead of Donald Trump. No doubt help by

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Speaker 1: the initial enthusiasm from widespread media coverage, Miss Harris is

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Speaker 1: already traveling through important working class states like Wisconsin, Michigan

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Speaker 1: and Pennsylvania. She needs to win those in the November

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Speaker 1: poll if she hopes to be president. That's if the

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Speaker 1: Afternoon report for Wednesday, the twenty five fourth of July

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Speaker 1: twenty twenty four don't forget follow on the podcast and

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Speaker 1: find Fear and Greed on LinkedIn, Instagram, x TikTok, and Facebook.

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Speaker 1: Join Michael Thompson and I tomorrow morning for the Fast

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Speaker 1: Five by Fear and Greed, the top five business stories

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Speaker 1: you need to know in just five minutes. I'm Sean

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Speaker 1: Elma Enjoy your evening