1 00:00:04,080 --> 00:00:06,640 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,680 --> 00:00:09,120 Speaker 1: for Monday, the fifth of May twenty twenty five. I'm 3 00:00:09,160 --> 00:00:11,160 Speaker 1: sure in al May every afternoon we've got the five 4 00:00:11,240 --> 00:00:13,800 Speaker 1: stories that happened today that you need to know about. 5 00:00:13,840 --> 00:00:16,680 Speaker 1: That's five stories on the fifth of the fifth, twenty five. 6 00:00:17,079 --> 00:00:20,160 Speaker 1: I'm liking it already. Joy number one. After a run 7 00:00:20,280 --> 00:00:23,560 Speaker 1: run of strong performances, the local share market sold off today, 8 00:00:23,680 --> 00:00:26,759 Speaker 1: ending down nearly one percent. It started lower and kept 9 00:00:26,800 --> 00:00:29,480 Speaker 1: falling to finish of eighty one hundred and fifty eight points. 10 00:00:29,600 --> 00:00:32,479 Speaker 1: Energy stocks led the market lower more on that surely, 11 00:00:32,920 --> 00:00:36,800 Speaker 1: while financials and Turko's also did poorly. A falling price 12 00:00:36,800 --> 00:00:40,280 Speaker 1: of oil hit the majors. Woodside and Santos both dropped 13 00:00:40,320 --> 00:00:42,440 Speaker 1: quite a bit. All the banks did poorly on the 14 00:00:42,440 --> 00:00:46,040 Speaker 1: back of a Westpac result. National Australia Banking, Commonwealth Bank 15 00:00:46,080 --> 00:00:49,000 Speaker 1: fell nearly two percent. Goodman Group, mcquarie and fourty s 16 00:00:49,040 --> 00:00:50,960 Speaker 1: few Metals were all sold off best, with the large 17 00:00:50,960 --> 00:00:54,600 Speaker 1: caps for CSL and Transurban story number two. Plenty of 18 00:00:54,600 --> 00:00:57,560 Speaker 1: corporate news around today. The big one was Westpac reporting 19 00:00:57,560 --> 00:01:00,840 Speaker 1: a slightly disappointing half year profit two point three billion 20 00:01:00,880 --> 00:01:03,840 Speaker 1: dollars lower than a year ago, with strong business lending 21 00:01:03,880 --> 00:01:07,200 Speaker 1: off setting a disappointing result on the home lending market. Also, 22 00:01:07,319 --> 00:01:10,320 Speaker 1: Goal Road Resources agreed to a three point seven billion 23 00:01:10,319 --> 00:01:14,200 Speaker 1: dollar bid from South African based gold Fields Elsewhere. Smart 24 00:01:14,200 --> 00:01:16,560 Speaker 1: Pag jumped more than twenty percent after the company entered 25 00:01:16,600 --> 00:01:20,640 Speaker 1: exclusive talks with an unnamed suitor, and plumbing group Reliance 26 00:01:20,640 --> 00:01:24,800 Speaker 1: Worldwide fell after saying it expects US tariffs to raise 27 00:01:24,840 --> 00:01:27,840 Speaker 1: around thirty million US dollars from its full year earnings 28 00:01:28,120 --> 00:01:31,679 Speaker 1: this financial year. Story number three Endeavor groups pubs and 29 00:01:31,800 --> 00:01:34,800 Speaker 1: clubs are doing well as Patron's pile in to watch 30 00:01:34,800 --> 00:01:37,520 Speaker 1: the footy and celebrate eastrom Anzac Day that type of thing, 31 00:01:37,920 --> 00:01:41,319 Speaker 1: but its bottle shops, including Dan Murphy's and BWS, are 32 00:01:41,360 --> 00:01:44,480 Speaker 1: having a hard time of it. Endeavor's March quarter sales struggled, 33 00:01:44,480 --> 00:01:47,680 Speaker 1: and the group has forecast flat to modest retail sales 34 00:01:47,720 --> 00:01:50,160 Speaker 1: growth for its bottle shops in the remainder of fiscal 35 00:01:50,200 --> 00:01:52,720 Speaker 1: twenty twenty five. The bottom line for Endeavor is that 36 00:01:52,800 --> 00:01:56,919 Speaker 1: consumers are finding things a bit tough. Endeavor has increased 37 00:01:56,960 --> 00:01:59,680 Speaker 1: promotional and discounting, which might be good for customers, but 38 00:01:59,720 --> 00:02:02,520 Speaker 1: come at the cost of lower margins. Dan Murphy's in 39 00:02:02,600 --> 00:02:06,000 Speaker 1: BWS reported a three percent slide in third quarter sales, 40 00:02:06,320 --> 00:02:09,440 Speaker 1: while It's three hundred and fifty four pubs said revenue 41 00:02:09,440 --> 00:02:12,320 Speaker 1: is up five percent and Devis's share price dropped half percent. 42 00:02:12,360 --> 00:02:15,840 Speaker 1: Today story number four an interesting one. Health technology startup 43 00:02:15,840 --> 00:02:20,000 Speaker 1: Eucalyptus plans to stop selling fertility in skincare products and stores, 44 00:02:20,280 --> 00:02:23,440 Speaker 1: including Woolers in price line to concentrate its efforts on 45 00:02:23,520 --> 00:02:27,720 Speaker 1: more profitable weight loss drugs online. In a frank assessment 46 00:02:27,760 --> 00:02:31,240 Speaker 1: of the business, Eucalyptus chief executive Tim Doyle admitted that 47 00:02:31,280 --> 00:02:36,960 Speaker 1: his company's fertility brand Kin kind of sucked his words, 48 00:02:37,240 --> 00:02:40,880 Speaker 1: and skincare business software barely makes money. This is all 49 00:02:40,919 --> 00:02:43,160 Speaker 1: according to the fin Review. Eucliptus is one of the 50 00:02:43,240 --> 00:02:47,440 Speaker 1: highest profile Australian startups, backed by high profile investors including 51 00:02:47,480 --> 00:02:51,160 Speaker 1: Wilworth Spentshre Capital w twenty three. It's raised one hundred 52 00:02:51,160 --> 00:02:54,079 Speaker 1: and fifty million dollars since its twenty nineteen launch, was 53 00:02:54,160 --> 00:02:56,720 Speaker 1: last valued at about five hundred and sixty million dollars. 54 00:02:56,919 --> 00:03:00,560 Speaker 1: It's Kin and Software divisions, which sells pre and post 55 00:03:00,639 --> 00:03:04,000 Speaker 1: natal vitamins and a skincare range at Willism price line 56 00:03:04,200 --> 00:03:07,640 Speaker 1: has generated less than ten million dollars in revenue every year. 57 00:03:08,000 --> 00:03:10,520 Speaker 1: That payals in comparison to the one hundred and twenty 58 00:03:10,520 --> 00:03:13,520 Speaker 1: one million dollars in annual revenue largely from selling weight 59 00:03:13,560 --> 00:03:17,600 Speaker 1: loss drugs in Australia, Germany, Japan and Britain. Eucliptus' jun 60 00:03:17,960 --> 00:03:21,960 Speaker 1: and a Pilot are the country's largest online weight loss businesses. 61 00:03:21,960 --> 00:03:25,359 Speaker 1: They serve about twenty two thousand patients. Finally, story number five, 62 00:03:25,400 --> 00:03:29,200 Speaker 1: Singapore's ruling party has had an overwhelming win in elections 63 00:03:29,240 --> 00:03:32,480 Speaker 1: over the weekend, taking eighty seven of the ninety seven 64 00:03:32,560 --> 00:03:35,960 Speaker 1: seats in parliament. Makes the Labour parties win here looks 65 00:03:36,400 --> 00:03:39,400 Speaker 1: look a little modest. It's a very different system. Obviously. 66 00:03:39,480 --> 00:03:43,720 Speaker 1: The People Action Party continues to dominate Singaporean politics after 67 00:03:43,760 --> 00:03:46,760 Speaker 1: sixty decades of rule. The opposition won ten seats in 68 00:03:46,800 --> 00:03:49,280 Speaker 1: the last elections in twenty twenty. It had hoped to 69 00:03:49,400 --> 00:03:52,960 Speaker 1: improve this time around. That wasn't to be. Analysts said 70 00:03:53,000 --> 00:03:56,760 Speaker 1: that like Canada and Australia, incumbency was a big advantage 71 00:03:56,840 --> 00:04:00,440 Speaker 1: in Singapore amid the global economic turmoil. That's it. The 72 00:04:00,520 --> 00:04:03,240 Speaker 1: Afternoon Report for Monday, the fifth of May twenty twenty five. 73 00:04:03,280 --> 00:04:05,240 Speaker 1: Make sure you hit the follow on the podcast. We 74 00:04:05,280 --> 00:04:07,440 Speaker 1: will be back tomorrow morning with it Tuesday edition of 75 00:04:07,480 --> 00:04:10,040 Speaker 1: the Past five Business Years by Fear and Greed. I'm 76 00:04:10,080 --> 00:04:11,800 Speaker 1: Sean Elmer. Enjoy your evening.