1
00:00:04,200 --> 00:00:06,840
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,880 --> 00:00:10,160
Speaker 1: for Wednesday, the fourteenth of August twenty twenty four. I'm sure, Elma.

3
00:00:10,520 --> 00:00:13,040
Speaker 1: Every afternoon, we've got the five stories that happened today

4
00:00:13,039 --> 00:00:14,960
Speaker 1: that you need to know about. Story Num one. Commonwealth

5
00:00:15,000 --> 00:00:17,640
Speaker 1: Bank led reporting season today, announcing a nine point eight

6
00:00:17,680 --> 00:00:21,119
Speaker 1: billion dollar profit and upping the final dividend. It was

7
00:00:21,160 --> 00:00:24,120
Speaker 1: a strong set of numbers, with profit margins maintained, less

8
00:00:24,160 --> 00:00:27,280
Speaker 1: money needed for bad loans, and growth in major segments

9
00:00:27,320 --> 00:00:30,920
Speaker 1: of the market, including among households and businesses come off.

10
00:00:30,920 --> 00:00:33,240
Speaker 1: Bank's share price finished up one point three percent today

11
00:00:33,280 --> 00:00:36,680
Speaker 1: as a result. Otherwise, Yes and PASX two hundred closed

12
00:00:36,720 --> 00:00:39,400
Speaker 1: up zero point three percent to seven eight hundred and

13
00:00:39,440 --> 00:00:42,959
Speaker 1: fifty one points, with healthcare, technology and real estate stocks

14
00:00:42,960 --> 00:00:45,960
Speaker 1: doing best. Much of the action was around the stocks

15
00:00:45,960 --> 00:00:49,240
Speaker 1: that are reporting, of course. Otherwise Ria rose nearly four percent,

16
00:00:49,560 --> 00:00:52,839
Speaker 1: Goodman Group jump three percent, Wise TEP Global increased two

17
00:00:52,880 --> 00:00:56,280
Speaker 1: point six percent, and CSL was up two percent. Iron

18
00:00:56,320 --> 00:00:58,920
Speaker 1: ore prices fell to a four month low, with futures

19
00:00:58,960 --> 00:01:01,920
Speaker 1: dropping to ninety six dollars fifty US a ton on

20
00:01:01,960 --> 00:01:05,480
Speaker 1: the Singapore Exchange. That hit the major miners on our market.

21
00:01:05,720 --> 00:01:08,680
Speaker 1: BHP in Rio fell nearly three percent, while four to

22
00:01:08,720 --> 00:01:12,039
Speaker 1: sqw metals tumbled at four point six percent. Today story

23
00:01:12,160 --> 00:01:14,840
Speaker 1: number two AGL Energy share price surged as much as

24
00:01:14,920 --> 00:01:17,200
Speaker 1: five percent after the group's had earnings in the current

25
00:01:17,200 --> 00:01:20,320
Speaker 1: financial year are likely to hold up better than forecast.

26
00:01:20,600 --> 00:01:23,160
Speaker 1: Underlying profit at the energy giant went from two hundred

27
00:01:23,160 --> 00:01:25,200
Speaker 1: and eighty one million dollars in the twenty twenty three

28
00:01:25,240 --> 00:01:29,280
Speaker 1: financial year to eight hundred and twelve million dollars last year,

29
00:01:29,520 --> 00:01:32,640
Speaker 1: slightly ahead of expectations. The strong result comes after the

30
00:01:32,680 --> 00:01:36,920
Speaker 1: company has already upgraded guidance twice in recent months. AGL

31
00:01:37,080 --> 00:01:39,720
Speaker 1: also declared a much higher dividend. The higher profit was

32
00:01:39,800 --> 00:01:42,880
Speaker 1: due to improved performance at its power stations and higher

33
00:01:42,880 --> 00:01:46,360
Speaker 1: electricity prices. The company warned that twenty twenty four was

34
00:01:46,360 --> 00:01:49,120
Speaker 1: a boom year and unlikely to be repeated in the

35
00:01:49,160 --> 00:01:51,280
Speaker 1: short term, though the forore the earnings won't be as

36
00:01:51,280 --> 00:01:54,480
Speaker 1: significant as expected. The group also announced two hundred and

37
00:01:54,520 --> 00:01:57,880
Speaker 1: fifty million dollars of battery in solar acquisitions, which boosts

38
00:01:57,920 --> 00:02:01,360
Speaker 1: agl's pipeline for potential projex by eight point one giga

39
00:02:01,360 --> 00:02:05,040
Speaker 1: what's off capacity with the most promising projects being in

40
00:02:05,120 --> 00:02:09,200
Speaker 1: Queensland and New South Wales. Storing number three. Promedicus's share

41
00:02:09,200 --> 00:02:12,560
Speaker 1: price surge nearly ten percent today, even though the Medical

42
00:02:12,560 --> 00:02:14,680
Speaker 1: Image in Group said it's going to be tough to

43
00:02:14,760 --> 00:02:17,680
Speaker 1: keep up its current growth rate. That's because it posted

44
00:02:17,680 --> 00:02:21,240
Speaker 1: a thirty seven percent jump in full year profit. Promedicus

45
00:02:21,320 --> 00:02:24,120
Speaker 1: has been a share market star. Its price is more

46
00:02:24,160 --> 00:02:26,920
Speaker 1: than double over the past year, and with a fifteen

47
00:02:26,960 --> 00:02:30,639
Speaker 1: billion dollar market capitalization, it's a top forty stock, bigger

48
00:02:30,639 --> 00:02:33,560
Speaker 1: than many household names like Quantas, JB hi Fi and Treasury.

49
00:02:33,560 --> 00:02:37,240
Speaker 1: Winer states it basically worked out how to stream medical

50
00:02:37,280 --> 00:02:42,040
Speaker 1: images to workstations and mobile devices, meaning diagnostic decisions can

51
00:02:42,080 --> 00:02:45,960
Speaker 1: be done remotely. It's sort of reinvented radiology. Promedicus iss

52
00:02:46,040 --> 00:02:49,200
Speaker 1: Sam Hubert founded the company just over forty years ago,

53
00:02:49,240 --> 00:02:51,240
Speaker 1: and since the beginning of COVID, its share price has

54
00:02:51,280 --> 00:02:53,840
Speaker 1: gone from around twenty bucks to more than one hundred

55
00:02:53,840 --> 00:02:56,679
Speaker 1: and forty dollars today. Mister Herbert said he believes a

56
00:02:56,720 --> 00:03:00,120
Speaker 1: company can maintain its trajectory of strong profitable growth, but

57
00:03:00,320 --> 00:03:03,360
Speaker 1: keeping up these rates might be a bit tough. Stroightt

58
00:03:03,400 --> 00:03:06,520
Speaker 1: number four, Well, let's keep the profit theme going. Bunning's

59
00:03:06,639 --> 00:03:09,760
Speaker 1: landlord BWP Trust delivered a big jump in profit, sending

60
00:03:09,760 --> 00:03:13,040
Speaker 1: its share price up nearly three percent. Takeover target Aurora's

61
00:03:13,040 --> 00:03:16,000
Speaker 1: share price jumped five percent after the packaging group's underlying

62
00:03:16,040 --> 00:03:19,600
Speaker 1: earnings beat estimates now yesterday or rejected a two dollars

63
00:03:19,639 --> 00:03:22,760
Speaker 1: fifty five a share bid from a USPE group. Today,

64
00:03:22,800 --> 00:03:25,440
Speaker 1: it's share price closed at two dollars thirty nine a share,

65
00:03:25,880 --> 00:03:29,800
Speaker 1: and Golden Copper group Evolution Mining's underlying profit nearly tripled

66
00:03:29,800 --> 00:03:33,200
Speaker 1: on higher prices of the precious metal. The result bid expectations,

67
00:03:33,280 --> 00:03:36,800
Speaker 1: and Evolution's share price jumped seven percent. Fine e Stro

68
00:03:36,840 --> 00:03:40,280
Speaker 1: at number five. Japanese Prime Minister Fumio Kashida today announced

69
00:03:40,320 --> 00:03:43,040
Speaker 1: he won't seek re election as head of his party,

70
00:03:43,080 --> 00:03:46,080
Speaker 1: meaning the end of his premiership after just under three years.

71
00:03:46,280 --> 00:03:50,320
Speaker 1: The ruling Liberal Democratic Party has governed Japan almost uninterrupted

72
00:03:50,320 --> 00:03:52,800
Speaker 1: since nineteen forty five, and it's due to hold an

73
00:03:52,800 --> 00:03:57,040
Speaker 1: internal leadership contest next month. According to AFP, its popularity

74
00:03:57,520 --> 00:04:00,560
Speaker 1: has slumped because of rising prices and misteric Shechida said

75
00:04:00,560 --> 00:04:03,920
Speaker 1: it's important to show people that the Liberal Democratic Party

76
00:04:03,960 --> 00:04:06,200
Speaker 1: is changing. He said the first step in doing that

77
00:04:06,320 --> 00:04:08,200
Speaker 1: is for him to step aside. The head of the

78
00:04:08,280 --> 00:04:11,160
Speaker 1: ruling party is traditionally also Prime Minister. The sixty seven

79
00:04:11,240 --> 00:04:14,120
Speaker 1: year old Mistaksheeda has been in office since October twenty

80
00:04:14,120 --> 00:04:17,000
Speaker 1: twenty one and has seen his and his party's poll

81
00:04:17,320 --> 00:04:22,440
Speaker 1: ratings slide sharply in response to rising prices hitting Japanese incomes.

82
00:04:22,680 --> 00:04:25,000
Speaker 1: That's it if the Afternoon Report for Wednesday, the fourteenth

83
00:04:25,040 --> 00:04:27,120
Speaker 1: of August twenty twenty four. Don't forget to follow on

84
00:04:27,160 --> 00:04:30,120
Speaker 1: the podcast and find Fear and Greed on LinkedIn, Instagram,

85
00:04:30,120 --> 00:04:33,080
Speaker 1: ex TikTok and Facebook. Join Michael Thompson and I Tomorrow

86
00:04:33,080 --> 00:04:35,120
Speaker 1: Morning for the Fast Five by Fear and Greed, the

87
00:04:35,120 --> 00:04:37,240
Speaker 1: top five business stories you need to know in just

88
00:04:37,279 --> 00:04:39,800
Speaker 1: five minutes. I'm Seane Elma. Enjoy reading