1 00:00:03,640 --> 00:00:06,760 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,800 --> 00:00:09,760 Speaker 1: for Friday, the fourteenth of February twenty twenty five. Are 3 00:00:09,760 --> 00:00:12,520 Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that 4 00:00:12,560 --> 00:00:14,640 Speaker 1: happened today that you need to know about. So let's 5 00:00:14,720 --> 00:00:17,239 Speaker 1: jump into it with story number one. It's really a 6 00:00:17,280 --> 00:00:19,479 Speaker 1: case of another day, another record high for the S 7 00:00:19,520 --> 00:00:22,160 Speaker 1: and p ASX two hundred. It closed up zero point 8 00:00:22,200 --> 00:00:26,599 Speaker 1: two percent today to eighty five hundred and fifty six points. 9 00:00:26,640 --> 00:00:29,000 Speaker 1: It was much higher earlier in the day, setting a 10 00:00:29,040 --> 00:00:31,880 Speaker 1: new intra day record as well, but it lost a 11 00:00:31,880 --> 00:00:34,320 Speaker 1: lot of those gains, led by a selloff in Commonwealth 12 00:00:34,360 --> 00:00:36,720 Speaker 1: Bank shares after the bank hit a new record this morning. 13 00:00:37,040 --> 00:00:39,960 Speaker 1: Comonwealth Bank closed down zero point five percent for the day. 14 00:00:40,360 --> 00:00:43,559 Speaker 1: The worst performers were two companies that both reported results, 15 00:00:43,680 --> 00:00:47,479 Speaker 1: Amp and Cochlear more on those shortly. The best performer 16 00:00:47,680 --> 00:00:50,760 Speaker 1: was Sigma Healthcare. Fresh from its merger with Chemist Warehouse, 17 00:00:50,840 --> 00:00:54,800 Speaker 1: The new pharmaceutical giant rose almost seven percent today. In 18 00:00:54,880 --> 00:00:57,880 Speaker 1: commodity markets, the price of gold hit a new record 19 00:00:57,960 --> 00:01:01,520 Speaker 1: and seems to be heading towards US three thousand dollars 20 00:01:01,600 --> 00:01:05,360 Speaker 1: an ounce. Iron ore holding up reasonably well, trading at 21 00:01:05,480 --> 00:01:08,440 Speaker 1: one hundred and six US dollars a ton. Oil prices 22 00:01:08,480 --> 00:01:11,120 Speaker 1: are stable, with a barrel of Brent fetching seventy five 23 00:01:11,240 --> 00:01:13,880 Speaker 1: US dollars, and the Aussie dollar is at a two 24 00:01:13,880 --> 00:01:17,919 Speaker 1: month high, buying more than sixty three US cents. Story 25 00:01:17,959 --> 00:01:21,200 Speaker 1: number two. Donald Trump has ordered his trade advisors to 26 00:01:21,240 --> 00:01:24,800 Speaker 1: come up with reciprocal tariffs on US trade partners in 27 00:01:24,840 --> 00:01:29,280 Speaker 1: retaliation against taxes and other measures, and Australia's GST system 28 00:01:29,520 --> 00:01:32,160 Speaker 1: could be in the firing line. The President said the 29 00:01:32,160 --> 00:01:35,280 Speaker 1: new tariffs would be designed to target unfair behavior by 30 00:01:35,280 --> 00:01:39,440 Speaker 1: trading partners who apply higher tariffs to specific American goods 31 00:01:39,800 --> 00:01:42,240 Speaker 1: than the United States supplies to the same products from 32 00:01:42,280 --> 00:01:44,720 Speaker 1: those countries. He wants officials to examine tariffs on a 33 00:01:44,800 --> 00:01:49,040 Speaker 1: country by country basis. Now, while America and Australia have 34 00:01:49,280 --> 00:01:52,120 Speaker 1: got free trade agreement under which most tariffs have been 35 00:01:52,160 --> 00:01:57,200 Speaker 1: reduced or scrapped altogether, the President's new order specifically targets 36 00:01:57,320 --> 00:02:01,200 Speaker 1: value added taxes, raising concerns that Australia might be hit 37 00:02:01,320 --> 00:02:04,800 Speaker 1: because of the GST onto Story number three. Now and 38 00:02:04,920 --> 00:02:09,520 Speaker 1: hearing implant company Cocklear's share price fell more than thirteen 39 00:02:09,639 --> 00:02:12,880 Speaker 1: percent today after the group downgraded its full year revenue 40 00:02:12,919 --> 00:02:15,520 Speaker 1: forecast on the back of cost of living pressures in 41 00:02:15,520 --> 00:02:19,160 Speaker 1: the United States. Those pressures were hurting sales and upgrades 42 00:02:19,200 --> 00:02:21,920 Speaker 1: of Cocklear devices. For the six months to the end 43 00:02:21,919 --> 00:02:25,680 Speaker 1: of December, profit improved in line with expectations. Story number 44 00:02:25,680 --> 00:02:28,520 Speaker 1: four I mentioned another company that reported one time blue 45 00:02:28,600 --> 00:02:32,320 Speaker 1: chip company AMP has announced a harving of profit for 46 00:02:32,320 --> 00:02:36,000 Speaker 1: the twenty twenty four financial year. The chief executive, Alexis George, 47 00:02:36,040 --> 00:02:39,000 Speaker 1: says this reflects the sale of the firm's advice arm 48 00:02:39,400 --> 00:02:42,960 Speaker 1: and a simplification of its business. Investors certainly thought there 49 00:02:42,960 --> 00:02:44,679 Speaker 1: was more to it, and the group's share price, which 50 00:02:44,680 --> 00:02:46,840 Speaker 1: has done very well over the past year up more 51 00:02:46,840 --> 00:02:50,840 Speaker 1: than forty percent, tumbled fifteen point four percent today. Ms 52 00:02:50,919 --> 00:02:54,519 Speaker 1: George said AMP had hit its targets for reducing cost 53 00:02:54,600 --> 00:02:57,359 Speaker 1: and its wealth business was competing strongly and would soon 54 00:02:57,400 --> 00:03:02,640 Speaker 1: launch a digital advice business. Bank reported an underlying profit 55 00:03:02,680 --> 00:03:06,440 Speaker 1: down twenty percent, and finally, story number five in Global 56 00:03:06,480 --> 00:03:09,560 Speaker 1: News back to Donald Trump. He says that he would 57 00:03:09,600 --> 00:03:13,239 Speaker 1: love to have Russia returned to the Group of Seven Nations, 58 00:03:13,280 --> 00:03:15,600 Speaker 1: saying it was a mistake for Moscow to be expelled. 59 00:03:16,040 --> 00:03:18,880 Speaker 1: Russia had been a member of the G seven Club 60 00:03:19,040 --> 00:03:21,880 Speaker 1: of Industrialized Democracies, then known of course as the G 61 00:03:22,040 --> 00:03:26,520 Speaker 1: eight until Moscow was excluded following its annexation of Ukraine's 62 00:03:26,560 --> 00:03:30,120 Speaker 1: Crimea region. This is back in twenty fourteen that this happened. 63 00:03:30,919 --> 00:03:33,200 Speaker 1: The President said, I'd love to have them back. I 64 00:03:33,240 --> 00:03:35,680 Speaker 1: think it was a mistake to throw them out. Look, 65 00:03:35,680 --> 00:03:38,480 Speaker 1: it's not a question of liking Russia or not liking Russia. 66 00:03:38,800 --> 00:03:40,880 Speaker 1: It was the G eight. He then went on to 67 00:03:41,000 --> 00:03:43,840 Speaker 1: add that I think Putin would love to be back. 68 00:03:43,960 --> 00:03:46,960 Speaker 1: There was no immediate reaction to Trump's comments from Canada, 69 00:03:46,960 --> 00:03:49,640 Speaker 1: which is chair of the G seven this year. That's 70 00:03:49,680 --> 00:03:52,240 Speaker 1: it for the Afternoon Report for Friday, the fourteenth of 71 00:03:52,280 --> 00:03:54,840 Speaker 1: February twenty twenty five. Make sure you hit follow on 72 00:03:54,880 --> 00:03:57,160 Speaker 1: the podcast and we'll be back tomorrow morning with the 73 00:03:57,160 --> 00:04:00,480 Speaker 1: weekend edition of Fear and Greed. I'm Michael Thompson. Enjoy 74 00:04:00,480 --> 00:04:00,960 Speaker 1: your aping.