1 00:00:04,160 --> 00:00:06,760 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,800 --> 00:00:10,080 Speaker 1: for Wednesday, the twelfth, February twenty twenty five. I'm Sean Elmer. 3 00:00:10,560 --> 00:00:13,560 Speaker 1: Every afternoon, We've got the five stories that happened today 4 00:00:13,560 --> 00:00:15,840 Speaker 1: that you need to know about. Straightum mine, I'm the SMPA. 5 00:00:15,880 --> 00:00:18,280 Speaker 1: SX two hundred finished up more than half a percent 6 00:00:18,320 --> 00:00:21,560 Speaker 1: today to eight five hundred and thirty five points, a 7 00:00:21,680 --> 00:00:24,639 Speaker 1: new closing high and not far off the all time 8 00:00:24,680 --> 00:00:28,320 Speaker 1: interday high of eighty five hundred and sixty seven points. 9 00:00:28,600 --> 00:00:32,320 Speaker 1: Industrials did best, while financials jumped on the back of 10 00:00:32,320 --> 00:00:35,320 Speaker 1: a boom Commonwealth Bank result. It had a few friends, 11 00:00:35,360 --> 00:00:38,040 Speaker 1: though National Australia Bank did well, so to Westpac and 12 00:00:38,080 --> 00:00:42,360 Speaker 1: Macquarie Bank. The Commonwealth reported a five point one three 13 00:00:42,520 --> 00:00:45,720 Speaker 1: billion dollar profit for the sixth month to the end 14 00:00:45,720 --> 00:00:49,559 Speaker 1: of December, also recorded at high dividend. The result was 15 00:00:49,600 --> 00:00:52,040 Speaker 1: in line with expectations or a little bit better, but 16 00:00:52,080 --> 00:00:54,680 Speaker 1: it was a high quality result that's what sent its 17 00:00:54,760 --> 00:00:57,280 Speaker 1: share price up. The tech stocks were among the worst 18 00:00:57,320 --> 00:00:59,920 Speaker 1: performers today. Promedicus and Zero were both down to two 19 00:01:00,000 --> 00:01:02,880 Speaker 1: two percent. A few notables. The share price of computer 20 00:01:02,960 --> 00:01:06,200 Speaker 1: Share jumped fifteen percent after its half year profit beat 21 00:01:06,280 --> 00:01:09,280 Speaker 1: expectations and management flagged and upgrade in full year profits. 22 00:01:09,920 --> 00:01:12,119 Speaker 1: Sun Corps share price jumped one and a half percent 23 00:01:12,240 --> 00:01:15,280 Speaker 1: after the insurer's net profit rose to one point one 24 00:01:15,360 --> 00:01:18,000 Speaker 1: billion dollars in the first half. That's up from five 25 00:01:18,120 --> 00:01:20,720 Speaker 1: hundred and eighty two million dollars. The big jump was 26 00:01:20,720 --> 00:01:22,800 Speaker 1: thanks to a one off gain from the sale of 27 00:01:22,840 --> 00:01:25,959 Speaker 1: its bank to Anez. Story number two. The Prime Minister 28 00:01:26,040 --> 00:01:29,640 Speaker 1: has led a chorus of criticism over a video involving 29 00:01:29,680 --> 00:01:33,120 Speaker 1: two nurses from Sydney in hospital uniforms, one of whom 30 00:01:33,200 --> 00:01:37,319 Speaker 1: is threatened to kill Israeli patients and refuse them medical care. 31 00:01:37,880 --> 00:01:42,440 Speaker 1: The PM characterized the video as driven by hate, disgusting 32 00:01:43,000 --> 00:01:45,399 Speaker 1: and vile. He's spoken to the Australian Federal Police to 33 00:01:45,440 --> 00:01:48,480 Speaker 1: offer whatever assistance is required for the New South Wales 34 00:01:48,560 --> 00:01:51,680 Speaker 1: Police investigation. The New South Wales government says the pair 35 00:01:51,760 --> 00:01:54,040 Speaker 1: will never be allowed to work for the state's health 36 00:01:54,120 --> 00:01:58,480 Speaker 1: system again as it looks into the incident. Story number three. 37 00:01:58,640 --> 00:02:02,720 Speaker 1: One of Australia's biggest old miners, Evolution Mining, is rewarding 38 00:02:02,760 --> 00:02:05,520 Speaker 1: shareholders for a much higher price for the precious metal, 39 00:02:05,880 --> 00:02:09,760 Speaker 1: tripling it's half year dividend. Evolution said it's profit for 40 00:02:09,840 --> 00:02:13,280 Speaker 1: six months to the end of December almost quadrupled, in 41 00:02:13,360 --> 00:02:16,320 Speaker 1: part thanks to gold hovering around twenty nine hundred US 42 00:02:16,360 --> 00:02:20,080 Speaker 1: dollars an ounce. For that period, Evolution's revenue was two 43 00:02:20,200 --> 00:02:23,240 Speaker 1: billion dollars, up fifty percent. It operates six gold mines 44 00:02:23,280 --> 00:02:26,880 Speaker 1: in Australia and Canada. The group plans to mine seven 45 00:02:27,040 --> 00:02:30,520 Speaker 1: hundred and eighty thousand ounces of gold this financial year. 46 00:02:30,560 --> 00:02:33,520 Speaker 1: Its share price is up about thirty one percent of 47 00:02:33,560 --> 00:02:35,880 Speaker 1: the last five weeks, one hundred and ten percent in 48 00:02:35,919 --> 00:02:38,320 Speaker 1: the last twelve months. That's what happens when the price 49 00:02:38,320 --> 00:02:41,519 Speaker 1: for gold surges. Story number four. In global markets, the 50 00:02:41,560 --> 00:02:43,840 Speaker 1: Aussie dollar is on a tear. It's not really, but 51 00:02:43,880 --> 00:02:46,679 Speaker 1: it is back above sixty three US cents. That came 52 00:02:46,720 --> 00:02:50,120 Speaker 1: despite the US Federal Reserve Chairs Rome Powell overnight saying 53 00:02:50,120 --> 00:02:53,080 Speaker 1: he's in no hurry to cut rates. In the US, 54 00:02:53,440 --> 00:02:56,920 Speaker 1: oil prices are higher as signs emerge the sanctions against 55 00:02:57,000 --> 00:03:00,600 Speaker 1: Russian oil exports are kicking in. That help the local 56 00:03:00,760 --> 00:03:04,680 Speaker 1: oil companies like Santos and Woodside. Today, and story number five, 57 00:03:04,680 --> 00:03:06,519 Speaker 1: there's almost too many stories out of the US and 58 00:03:06,560 --> 00:03:09,440 Speaker 1: the Trump administration to go through them all. Let's look 59 00:03:09,480 --> 00:03:13,079 Speaker 1: at some highlights. Elon Musk today denied leading a hostile 60 00:03:13,120 --> 00:03:16,480 Speaker 1: takeover of the US government and defended his cost cutting plans. 61 00:03:16,600 --> 00:03:19,400 Speaker 1: Is He made a surprise first appearance at the White House, 62 00:03:19,440 --> 00:03:22,720 Speaker 1: and the world's richest man took questions from reporters in 63 00:03:22,760 --> 00:03:25,560 Speaker 1: the Oval Office as he stood next to President Donald 64 00:03:25,600 --> 00:03:27,480 Speaker 1: Trump and had his four year old son playing in 65 00:03:27,520 --> 00:03:30,560 Speaker 1: between them. He admitted to being incorrect in some of 66 00:03:30,560 --> 00:03:34,200 Speaker 1: the things he says, but broadly described sweeping government cuts 67 00:03:34,560 --> 00:03:39,000 Speaker 1: as common sense measures that are non draconian or radical. Meanwhile, 68 00:03:39,040 --> 00:03:41,200 Speaker 1: Donald Trump has again insisted that the US will take 69 00:03:41,240 --> 00:03:43,920 Speaker 1: control of the Gaza strip. He was talking after he 70 00:03:43,960 --> 00:03:48,000 Speaker 1: met with Jordan's King Abdullah, who has rejected the proposal, 71 00:03:48,320 --> 00:03:51,560 Speaker 1: and in related years, Israeli's Prime Minister Benjamin Netanya, who 72 00:03:51,600 --> 00:03:54,080 Speaker 1: has warned ha Mass he will end the cease firing 73 00:03:54,160 --> 00:03:57,680 Speaker 1: Gaza and resume fighting if the Palestinian group does not 74 00:03:57,800 --> 00:04:01,520 Speaker 1: return our hostages by Saturday noon. Mister neet Nyahu said 75 00:04:01,520 --> 00:04:04,560 Speaker 1: he had ordered Israeli forces to a mass inside and 76 00:04:04,640 --> 00:04:08,440 Speaker 1: around Gaza in response to Hermas's announcement that it was 77 00:04:08,480 --> 00:04:12,720 Speaker 1: postponing freeing more hostages until further notice. That's it for 78 00:04:12,720 --> 00:04:15,320 Speaker 1: the afternoon Report for Wednesday, the twelfth of February twenty 79 00:04:15,360 --> 00:04:17,440 Speaker 1: twenty five. Make sure you hit follow on the podcast. 80 00:04:17,800 --> 00:04:19,919 Speaker 1: We'll be back tomorrow morning with the Thursday edition of 81 00:04:19,920 --> 00:04:23,040 Speaker 1: the Fast five Business News by Peering Breed. I'm Sean 82 00:04:23,080 --> 00:04:24,479 Speaker 1: Elma Enjoy your reading.