1 00:00:03,440 --> 00:00:06,240 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,280 --> 00:00:09,200 Speaker 1: for Monday, the sixteenth of February twenty twenty six. Oh 3 00:00:09,240 --> 00:00:11,920 Speaker 1: Michael Thompson, and every afternoon, We've got the five stories 4 00:00:11,960 --> 00:00:14,000 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,040 --> 00:00:17,079 Speaker 1: go we story number one. The SMPA SEX two hundred 6 00:00:17,120 --> 00:00:20,520 Speaker 1: closed zero point two percent higher today to eighty nine 7 00:00:20,560 --> 00:00:23,640 Speaker 1: hundred and sixty seven points. Eight of the eleven sectors 8 00:00:23,680 --> 00:00:26,200 Speaker 1: were higher. The best by far was the tech sector. 9 00:00:26,600 --> 00:00:29,480 Speaker 1: Tech stocks had a tough week last week, with some 10 00:00:29,680 --> 00:00:32,519 Speaker 1: really heavy selling over fears that AI is going to 11 00:00:32,560 --> 00:00:36,720 Speaker 1: disrupt the software companies. Today, those local software companies bounce 12 00:00:36,800 --> 00:00:40,479 Speaker 1: back wise. Tech Global was up nearly thirteen percent zero 13 00:00:40,600 --> 00:00:43,920 Speaker 1: more than seven and a half percent, Technology one up 14 00:00:44,280 --> 00:00:48,000 Speaker 1: almost six percent. The banks away from tech stocks now, 15 00:00:48,080 --> 00:00:50,440 Speaker 1: the banks had a mixed day, A and Z falling 16 00:00:50,479 --> 00:00:52,840 Speaker 1: three point one percent after a stellar week last week. 17 00:00:53,159 --> 00:00:56,520 Speaker 1: NAB was off one percent, of Commwealth Bank climbed one percent, 18 00:00:57,040 --> 00:01:00,560 Speaker 1: while Bendingo and Adelaide Bank dropped two percent after report results, 19 00:01:00,560 --> 00:01:04,039 Speaker 1: with investors worried about a lack of growth. Logistics group 20 00:01:04,240 --> 00:01:07,640 Speaker 1: Cube now that jumped three point three percent today after 21 00:01:07,680 --> 00:01:10,400 Speaker 1: it agreed to an eleven point seven billion dollar sale 22 00:01:10,480 --> 00:01:13,520 Speaker 1: to Macquarie Asset Management. We told you about that one 23 00:01:13,560 --> 00:01:16,920 Speaker 1: this morning. It has now been confirmed and Cube will 24 00:01:17,000 --> 00:01:19,960 Speaker 1: leave the ASX once the deal is done. And a 25 00:01:20,040 --> 00:01:23,399 Speaker 1: quick mention of shipbuilder ostil I told you on Friday 26 00:01:23,480 --> 00:01:27,080 Speaker 1: that AT share price tumbled around twenty three percent after 27 00:01:27,120 --> 00:01:31,399 Speaker 1: cutting earnings guidance and admitting an accounting error. Basically, we're 28 00:01:31,440 --> 00:01:35,839 Speaker 1: incentives in the US relating to the construction of naval 29 00:01:35,920 --> 00:01:39,880 Speaker 1: vessels for the US had actually been counted twice. Share 30 00:01:39,920 --> 00:01:42,839 Speaker 1: price fell twenty three percent on Friday. Today it bounced 31 00:01:42,880 --> 00:01:46,760 Speaker 1: back almost twenty percent. There you go. Story number two. 32 00:01:47,560 --> 00:01:52,160 Speaker 1: A elked liberal policy document has revealed the hardline immigration 33 00:01:52,280 --> 00:01:55,160 Speaker 1: plan that Susan Lee was preparing to unveil before she 34 00:01:55,240 --> 00:01:57,960 Speaker 1: was removed as leader. At the center of the plan 35 00:01:58,480 --> 00:02:03,320 Speaker 1: was an eighty million dollar immigration task force called Operation Gatekeeper, 36 00:02:03,440 --> 00:02:06,600 Speaker 1: led by a senior intelligence officer drawing on Azo. The 37 00:02:06,680 --> 00:02:10,519 Speaker 1: AFP and Border Force officers would have had the power 38 00:02:10,600 --> 00:02:14,000 Speaker 1: to scrutinize phone communications at the border and enforce visa 39 00:02:14,040 --> 00:02:17,919 Speaker 1: conditions in the community. The proposal also would have included 40 00:02:17,919 --> 00:02:22,800 Speaker 1: a tougher English language requirements banning visas from regions controlled 41 00:02:22,840 --> 00:02:26,919 Speaker 1: by terrorist groups across thirteen countries and as well cutting 42 00:02:27,040 --> 00:02:30,480 Speaker 1: net overseas migration to one hundred and seventy five thousand, 43 00:02:30,480 --> 00:02:33,480 Speaker 1: which is well below last financial years at total of 44 00:02:33,520 --> 00:02:36,720 Speaker 1: three hundred and six thousand. New Liberal leader Angus Taylor 45 00:02:37,000 --> 00:02:40,600 Speaker 1: has pledged a tougher stance on migration. He's put it 46 00:02:40,639 --> 00:02:43,480 Speaker 1: out there as one of his key policies, but the 47 00:02:43,600 --> 00:02:47,520 Speaker 1: Leake's blueprint does somewhat complicate his next move because he 48 00:02:47,639 --> 00:02:51,320 Speaker 1: is trying to differentiate himself both from the approach taken 49 00:02:51,400 --> 00:02:57,040 Speaker 1: previously by Susan Lee and also the rising prominence of 50 00:02:57,080 --> 00:02:59,960 Speaker 1: one Nation, which is luring a lot of Liberal voters across. 51 00:03:00,600 --> 00:03:04,960 Speaker 1: Story number three. Rio Tinto has suspended its operations at 52 00:03:04,960 --> 00:03:09,040 Speaker 1: at Simando iron Ore project in Guinea following the death 53 00:03:09,080 --> 00:03:11,800 Speaker 1: of a contractor. Their workplace safety is of course paramount 54 00:03:11,840 --> 00:03:15,760 Speaker 1: at mining sites because it is a dangerous business. The 55 00:03:15,880 --> 00:03:19,000 Speaker 1: death over the weekend closed down the site. Chief executive 56 00:03:19,040 --> 00:03:22,040 Speaker 1: Simon Trott says he will travel to Guinea this week. 57 00:03:22,480 --> 00:03:24,960 Speaker 1: Rio Tinto owns a fifty three percent stake in the 58 00:03:25,000 --> 00:03:27,760 Speaker 1: consortium that holds the rights to much of the project. 59 00:03:27,760 --> 00:03:30,680 Speaker 1: The rest is owned by Chinese state groups. Rio share 60 00:03:30,720 --> 00:03:34,160 Speaker 1: price fell seven percent today in a very week day 61 00:03:34,440 --> 00:03:37,320 Speaker 1: for the miners. Fortescue Metals Group was down four point 62 00:03:37,360 --> 00:03:39,960 Speaker 1: seven percent and BHP was off one and a half percent. 63 00:03:40,680 --> 00:03:43,520 Speaker 1: JB High Fi this story number four. JB High Five's 64 00:03:43,520 --> 00:03:46,880 Speaker 1: share price surged seven and a half percent today after 65 00:03:46,920 --> 00:03:50,040 Speaker 1: the electronics retailer announced a big jump in sales during 66 00:03:50,040 --> 00:03:53,080 Speaker 1: the December half to more than six billion dollars or 67 00:03:53,160 --> 00:03:55,600 Speaker 1: a lot of people buying mobile phones, a lot of 68 00:03:55,640 --> 00:04:00,240 Speaker 1: people buying small appliances, computers, and fitness products. JB was 69 00:04:00,280 --> 00:04:02,440 Speaker 1: one of the companies announcing its results today. There are 70 00:04:02,440 --> 00:04:05,440 Speaker 1: a few others. Treasury Wine Estates saw at share price 71 00:04:05,480 --> 00:04:08,920 Speaker 1: tumble five percent. It declared a first half loss of 72 00:04:09,160 --> 00:04:12,000 Speaker 1: six hundred and forty nine million dollars as it wrote 73 00:04:12,040 --> 00:04:15,040 Speaker 1: down the value of part of its business, scrapped its 74 00:04:15,040 --> 00:04:19,520 Speaker 1: interim dividend. Earnings was even down for its Marquee Penfolds brand. 75 00:04:19,600 --> 00:04:21,200 Speaker 1: It is in a little bit of trouble at the moment. 76 00:04:21,680 --> 00:04:24,599 Speaker 1: A two Milk rose nearly seven percent after the infant 77 00:04:24,720 --> 00:04:27,839 Speaker 1: formula and dairy business recorded a better than expected first 78 00:04:27,880 --> 00:04:31,680 Speaker 1: half lot of demand. Strong demand coming out of China 79 00:04:32,000 --> 00:04:36,400 Speaker 1: and Ansel, which makes medical gloves and protective surgical suits. 80 00:04:36,520 --> 00:04:39,159 Speaker 1: It jumped nearly four percent, even though it said that 81 00:04:39,200 --> 00:04:43,440 Speaker 1: it doesn't expect any meaningful improvements in subdued trading conditions 82 00:04:43,440 --> 00:04:46,440 Speaker 1: in the second half. And finally, story number five, the 83 00:04:46,480 --> 00:04:49,480 Speaker 1: European Union has pushed back against claims from the Trump 84 00:04:49,520 --> 00:04:55,440 Speaker 1: administration that Europe faces quote civilizational erasure due to social 85 00:04:55,480 --> 00:04:59,880 Speaker 1: and economic change, highlighting growing tensions between Washington and Brussels. 86 00:05:00,440 --> 00:05:04,600 Speaker 1: EU foreign policy chief Kaya Kallis, who interestingly used to 87 00:05:04,640 --> 00:05:07,720 Speaker 1: be the Prime Minister of Estonia I've learned, used a 88 00:05:07,720 --> 00:05:11,520 Speaker 1: major security conference in Munich to reject the characterization, saying 89 00:05:12,200 --> 00:05:15,719 Speaker 1: and I quote, contrary to what some may say, woke, decadent, 90 00:05:15,800 --> 00:05:19,760 Speaker 1: Europe is not facing civilizational erasure. In fact, people still 91 00:05:19,800 --> 00:05:22,960 Speaker 1: want to join our club. Her comments come after really 92 00:05:22,960 --> 00:05:25,320 Speaker 1: what has been a growing rift between the US and 93 00:05:25,360 --> 00:05:28,200 Speaker 1: Europe over issues like the future of Greenland and the 94 00:05:28,240 --> 00:05:31,680 Speaker 1: war in Ukraine. Although over the weekend US Secretary of 95 00:05:31,680 --> 00:05:35,200 Speaker 1: State we mentioned this this morning, Marco Rubio did strike 96 00:05:35,279 --> 00:05:38,440 Speaker 1: a more conciliatory tone at the same conference in Munich, 97 00:05:38,560 --> 00:05:41,280 Speaker 1: calling for the two sides to cooperate on a quote 98 00:05:41,520 --> 00:05:46,159 Speaker 1: sane foreign policy. There we go The Afternoon Report for Monday, 99 00:05:46,200 --> 00:05:49,520 Speaker 1: the sixteenth of February twenty twenty six. Make sure you're 100 00:05:49,520 --> 00:05:52,320 Speaker 1: following the podcast and headlong to Fearangreed dot com dot 101 00:05:52,360 --> 00:05:55,120 Speaker 1: au to sign up for our free daily newsletter. I'll 102 00:05:55,120 --> 00:05:56,520 Speaker 1: put a link in the show notes as well. I'm 103 00:05:56,520 --> 00:05:58,159 Speaker 1: Michael Thompson. Enjoy your evening.