1 00:00:04,120 --> 00:00:06,880 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,960 --> 00:00:09,879 Speaker 1: for Monday, the sixteenth of February twenty twenty six. I'm 3 00:00:09,920 --> 00:00:12,560 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,600 --> 00:00:14,800 Speaker 1: that happened today that you need to know about. Let's go, 5 00:00:14,800 --> 00:00:18,160 Speaker 1: We're story number one. The SMPA SEX two hundred closed 6 00:00:18,320 --> 00:00:21,520 Speaker 1: zero point two percent higher today to eighty nine hundred 7 00:00:21,560 --> 00:00:24,880 Speaker 1: and sixty seven points. Eight of the eleven sectors were higher. 8 00:00:24,920 --> 00:00:27,880 Speaker 1: The best by far was the tech sector. Tech stocks 9 00:00:27,920 --> 00:00:31,040 Speaker 1: had a tough week last week, with some really heavy 10 00:00:31,080 --> 00:00:33,800 Speaker 1: selling over fears that AI is going to disrupt the 11 00:00:33,840 --> 00:00:38,080 Speaker 1: software companies. Today, those local software companies bounce back wise. 12 00:00:38,120 --> 00:00:41,599 Speaker 1: Tech Global was up nearly thirteen percent zero more than 13 00:00:41,640 --> 00:00:46,040 Speaker 1: seven and a half percent, Technology one up almost six percent. 14 00:00:46,520 --> 00:00:49,279 Speaker 1: The banks away from tech stocks now, the banks had 15 00:00:49,320 --> 00:00:51,720 Speaker 1: a mixed day, A and Z falling three point one 16 00:00:51,720 --> 00:00:54,720 Speaker 1: percent after a stellar week last week. NAB was off 17 00:00:54,840 --> 00:00:58,480 Speaker 1: one percent. Comwealth Bank climbed one percent while Bending on 18 00:00:58,480 --> 00:01:01,280 Speaker 1: and Adelaide Bank dropped two percent after reporting results with 19 00:01:01,360 --> 00:01:05,319 Speaker 1: investors worried about a lack of growth. Logistics group Cube 20 00:01:05,440 --> 00:01:08,440 Speaker 1: Now that jumped three point three percent today after it 21 00:01:08,480 --> 00:01:11,200 Speaker 1: agreed to an eleven point seven billion dollar sale to 22 00:01:11,280 --> 00:01:14,759 Speaker 1: Macquarie Asset Management. We told you about that one this morning. 23 00:01:14,840 --> 00:01:18,000 Speaker 1: It has now been confirmed and Cube will leave the 24 00:01:18,040 --> 00:01:21,240 Speaker 1: ASX once the deal is done. And a quick mention 25 00:01:21,319 --> 00:01:24,440 Speaker 1: of shipbuilder ostel I told you on Friday that AT 26 00:01:24,440 --> 00:01:28,880 Speaker 1: share price tumbled around twenty three percent after cutting earnings 27 00:01:28,920 --> 00:01:32,760 Speaker 1: guidance and admitting an accounting error. Basically, we're incentives in 28 00:01:32,800 --> 00:01:37,040 Speaker 1: the US relating to the construction of naval vessels for 29 00:01:37,080 --> 00:01:41,040 Speaker 1: the US had actually been counted twice. Share price fell 30 00:01:41,080 --> 00:01:44,360 Speaker 1: twenty three percent on Friday. Today it bounce back almost 31 00:01:44,440 --> 00:01:49,000 Speaker 1: twenty percent. There you go. Story number two. A elked 32 00:01:49,120 --> 00:01:53,320 Speaker 1: liberal policy document has revealed the hardline immigration plan that 33 00:01:53,360 --> 00:01:56,440 Speaker 1: Susan Lee was preparing to unveil before she was removed 34 00:01:56,480 --> 00:01:59,440 Speaker 1: as leader. At the center of the plan was an 35 00:01:59,480 --> 00:02:03,960 Speaker 1: eighty millis million dollar immigration task force called Operation Gatekeeper, 36 00:02:04,080 --> 00:02:07,240 Speaker 1: led by a senior intelligence officer drawing on Azo. The 37 00:02:07,320 --> 00:02:11,200 Speaker 1: AFP and Border Force officers would have had the power 38 00:02:11,240 --> 00:02:14,680 Speaker 1: to scrutinize phone communications at the border and enforce visa 39 00:02:14,720 --> 00:02:18,600 Speaker 1: conditions in the community. The proposal also would have included 40 00:02:18,600 --> 00:02:23,440 Speaker 1: a tougher English language requirements banning visas from regions controlled 41 00:02:23,480 --> 00:02:27,560 Speaker 1: by terrorist groups across thirteen countries and as well cutting 42 00:02:27,680 --> 00:02:31,120 Speaker 1: net overseas migration to one hundred and seventy five thousand, 43 00:02:31,120 --> 00:02:34,160 Speaker 1: which is well below last financial years at total of 44 00:02:34,200 --> 00:02:37,359 Speaker 1: three hundred and six thousand. New Liberal leader Angus Taylor 45 00:02:37,639 --> 00:02:41,280 Speaker 1: has pledged a tougher stance on migration. He's put it 46 00:02:41,280 --> 00:02:44,160 Speaker 1: out there as one of his key policies, but the 47 00:02:44,240 --> 00:02:48,200 Speaker 1: leaked blueprint does somewhat complicate his next move because he 48 00:02:48,320 --> 00:02:52,000 Speaker 1: is trying to differentiate himself both from the approach taken 49 00:02:52,040 --> 00:02:57,680 Speaker 1: previously by Susan Lee and also the rising prominence of 50 00:02:57,720 --> 00:02:59,880 Speaker 1: one nation which is luring a lot of Liberal vo 51 00:03:00,200 --> 00:03:04,519 Speaker 1: is a cross story. Number three. Rio Tinto has suspended 52 00:03:04,560 --> 00:03:08,920 Speaker 1: its operations at at Simondo iron ore project in Guinea 53 00:03:09,040 --> 00:03:11,519 Speaker 1: following the death of a contractor. Their workplace safety is 54 00:03:11,560 --> 00:03:14,760 Speaker 1: of course paramount at mining sites because it is a 55 00:03:14,880 --> 00:03:18,840 Speaker 1: dangerous business. The death over the weekend closed down the site. 56 00:03:18,919 --> 00:03:22,160 Speaker 1: Chief executive Simon Trott says he will travel to Guinea 57 00:03:22,200 --> 00:03:25,400 Speaker 1: this week. Rio Tinto owns a fifty three percent stake 58 00:03:25,440 --> 00:03:27,840 Speaker 1: in the consortium that holds the rights to much of 59 00:03:27,880 --> 00:03:30,480 Speaker 1: the project. The rest is owned by Chinese state groups. 60 00:03:30,760 --> 00:03:33,960 Speaker 1: Rio share price fell seven percent today in a very 61 00:03:34,280 --> 00:03:37,480 Speaker 1: week day for the miners. Fortescue Metals Group was down 62 00:03:37,520 --> 00:03:39,920 Speaker 1: four point seven percent and BHP was off one and 63 00:03:39,920 --> 00:03:43,280 Speaker 1: a half percent. JB High Fi this story number four. 64 00:03:43,360 --> 00:03:46,160 Speaker 1: JB High Five's share price surged seven and a half 65 00:03:46,240 --> 00:03:49,840 Speaker 1: percent today after the electronics retailer announced a big jump 66 00:03:49,840 --> 00:03:52,440 Speaker 1: in sales during the December half to more than six 67 00:03:52,720 --> 00:03:56,000 Speaker 1: billion dollars or a lot of people buying mobile phones, 68 00:03:56,040 --> 00:03:59,960 Speaker 1: a lot of people buying small appliances, computers, and fitness products. 69 00:04:00,320 --> 00:04:02,880 Speaker 1: JB was one of the companies announcing its results today. 70 00:04:02,920 --> 00:04:05,600 Speaker 1: There are a few others. Treasury Wine Estates saw its 71 00:04:05,600 --> 00:04:08,440 Speaker 1: share price tumble five percent. It declared a first half 72 00:04:08,520 --> 00:04:12,320 Speaker 1: loss of six hundred and forty nine million dollars as 73 00:04:12,360 --> 00:04:14,440 Speaker 1: it wrote down the value of part of its business, 74 00:04:15,120 --> 00:04:18,400 Speaker 1: scrapped its interim dividend. Earnings was even down for its 75 00:04:18,440 --> 00:04:21,080 Speaker 1: Marquee Penfolds brand. It is in a little bit of 76 00:04:21,120 --> 00:04:24,080 Speaker 1: trouble at the moment. A two Milk rose nearly seven 77 00:04:24,120 --> 00:04:27,280 Speaker 1: percent after the infant formula and dairy business recorded a 78 00:04:27,279 --> 00:04:31,400 Speaker 1: better than expected first half lot of demand. Strong demand 79 00:04:31,440 --> 00:04:35,279 Speaker 1: coming out of China and Ansel, which makes medical gloves 80 00:04:35,320 --> 00:04:38,920 Speaker 1: and protective surgical suits. It jumped nearly four percent, even 81 00:04:38,920 --> 00:04:42,440 Speaker 1: though it said that it doesn't expect any meaningful improvement 82 00:04:42,600 --> 00:04:46,159 Speaker 1: in subdued trading conditions in the second half. And finally, 83 00:04:46,200 --> 00:04:49,320 Speaker 1: story number five, the European Union has pushed back against 84 00:04:49,360 --> 00:04:54,200 Speaker 1: claims from the Trump administration that Europe faces quote civilizational 85 00:04:54,200 --> 00:04:59,000 Speaker 1: erasure due to social and economic change, highlighting growing tensions 86 00:04:59,080 --> 00:05:03,960 Speaker 1: between Washington and Brussels. EU foreign policy chief Kaya Kallis, 87 00:05:04,040 --> 00:05:06,880 Speaker 1: who interestingly used to be the Prime Minister of Estonia 88 00:05:07,120 --> 00:05:10,520 Speaker 1: I've learned, used a major security conference in Munich to 89 00:05:10,560 --> 00:05:14,280 Speaker 1: reject the characterization, saying and I quote, contrary to what 90 00:05:14,360 --> 00:05:19,000 Speaker 1: some may say, woke, decadent, Europe is not facing civilizational erasure. 91 00:05:19,279 --> 00:05:22,040 Speaker 1: In fact, people still want to join our club. Her 92 00:05:22,040 --> 00:05:25,080 Speaker 1: comments come after really what has been a growing rift 93 00:05:25,120 --> 00:05:27,839 Speaker 1: between the US and Europe over issues like the future 94 00:05:27,880 --> 00:05:30,960 Speaker 1: of Greenland and the war in Ukraine. Although over the 95 00:05:30,960 --> 00:05:33,760 Speaker 1: weekend US Secretary of State we mentioned this this morning, 96 00:05:33,880 --> 00:05:37,800 Speaker 1: Marco Rubio did strike a more conciliatory tone at the 97 00:05:37,800 --> 00:05:40,479 Speaker 1: same conference in Munich, calling for the two sides to 98 00:05:40,480 --> 00:05:44,560 Speaker 1: cooperate on a quote sane foreign policy. There we go 99 00:05:44,800 --> 00:05:48,839 Speaker 1: the Afternoon Report for Monday, the sixteenth of February twenty 100 00:05:48,839 --> 00:05:51,640 Speaker 1: twenty six. Make sure you're following the podcast and headlong 101 00:05:51,640 --> 00:05:54,240 Speaker 1: to Fearangreed dot com dot au to sign up for 102 00:05:54,320 --> 00:05:56,280 Speaker 1: our free daily newsletter. I'll put a link in the 103 00:05:56,279 --> 00:05:58,799 Speaker 1: show notes as well. I'm Michael Thompson. Enjoy your evening.