1 00:00:03,640 --> 00:00:06,800 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,880 --> 00:00:09,600 Speaker 1: for Thursday, the twenty eighth of August twenty twenty five. 3 00:00:09,680 --> 00:00:11,879 Speaker 1: Oh Michael Thompson, and every afternoon, We've got the five 4 00:00:11,920 --> 00:00:13,960 Speaker 1: stories that happen today that you need to know about. 5 00:00:14,400 --> 00:00:17,159 Speaker 1: Let's go cracking story number one. The S and p 6 00:00:17,320 --> 00:00:20,599 Speaker 1: ASX two hundred climbed zero point two percent today to 7 00:00:20,680 --> 00:00:23,800 Speaker 1: eight thousand, nine hundred and eighty points off the back 8 00:00:23,840 --> 00:00:28,520 Speaker 1: of another very full day of earnings results. Quantus delivered 9 00:00:28,560 --> 00:00:32,479 Speaker 1: a profit of two point three nine billion dollars that 10 00:00:32,600 --> 00:00:36,040 Speaker 1: is its second highest ever, sending its share price up 11 00:00:36,159 --> 00:00:39,320 Speaker 1: nine point one percent to a record high for the 12 00:00:39,360 --> 00:00:41,959 Speaker 1: airline shares. A lot of the heavy lifting today, though, 13 00:00:41,960 --> 00:00:44,880 Speaker 1: on the burs was done by the banks. National Australian Bank, 14 00:00:44,960 --> 00:00:49,040 Speaker 1: Comonwealth Bank both up more than two percent. Westpac climbed 15 00:00:49,080 --> 00:00:51,280 Speaker 1: one point three percent. A and D was up almost 16 00:00:51,280 --> 00:00:54,240 Speaker 1: one percent. As often seems to be the case lately, 17 00:00:54,280 --> 00:00:57,000 Speaker 1: the banks go up, the miners go down. BHP rere 18 00:00:57,040 --> 00:01:00,280 Speaker 1: Tinto both down. Mineral Resources dropped one point six percent 19 00:01:00,400 --> 00:01:03,960 Speaker 1: on a big loss for FY twenty five and disappointing 20 00:01:04,040 --> 00:01:07,560 Speaker 1: guidance for next year. Investors liked what they heard from 21 00:01:07,600 --> 00:01:12,320 Speaker 1: IDP Education Today delivering cost savings, sending it share price 22 00:01:12,400 --> 00:01:16,560 Speaker 1: almost thirty percent higher. And West Farmer's owner of Bunnings, 23 00:01:16,680 --> 00:01:19,080 Speaker 1: was up zero point four percent after it posted a 24 00:01:19,240 --> 00:01:23,080 Speaker 1: fourteen percent rise in net profit onto story number two 25 00:01:23,120 --> 00:01:27,319 Speaker 1: now and booming sales of Chinese electric vehicles have helped 26 00:01:27,360 --> 00:01:30,720 Speaker 1: Eagers Automotive to a stronger than expected half year profit. 27 00:01:31,160 --> 00:01:35,400 Speaker 1: The nation's biggest dealership group lifted after tax profit two 28 00:01:35,480 --> 00:01:39,280 Speaker 1: point three percent to one hundred and nineteen million dollars. Now. 29 00:01:39,480 --> 00:01:44,160 Speaker 1: BYD sales more than doubled to twenty three thousand, three 30 00:01:44,240 --> 00:01:47,560 Speaker 1: hundred and fifty five vehicles in the half, according to 31 00:01:47,600 --> 00:01:51,960 Speaker 1: the Financial Review, and Egers sold about eighty percent of 32 00:01:52,000 --> 00:01:54,920 Speaker 1: all new BYD vehicles in the country. Until recently, Eagers 33 00:01:54,920 --> 00:01:59,200 Speaker 1: actually held the exclusive rights to sell bid. The company 34 00:01:59,200 --> 00:02:02,160 Speaker 1: says that it plans to add more Chinese car brands 35 00:02:02,160 --> 00:02:04,720 Speaker 1: to its stable. It is certainly continuing the trend that 36 00:02:04,760 --> 00:02:07,560 Speaker 1: we've seen. There are at least twenty three Chinese brands 37 00:02:07,600 --> 00:02:11,200 Speaker 1: already for sale in Australia, all that have confirmed plans 38 00:02:11,240 --> 00:02:14,120 Speaker 1: to launch here. Another five likely to arrive soon. This 39 00:02:14,160 --> 00:02:17,280 Speaker 1: is according to the dealers Association back to eagers. Though 40 00:02:17,320 --> 00:02:20,480 Speaker 1: the result and the optimism about the future and those 41 00:02:20,600 --> 00:02:23,519 Speaker 1: plans for what they're going to do well at sent 42 00:02:23,600 --> 00:02:26,799 Speaker 1: EGA's share price up more than twelve percent today. Story 43 00:02:26,880 --> 00:02:30,280 Speaker 1: number three This is extraordinary. Nine News has demanded a 44 00:02:30,320 --> 00:02:34,639 Speaker 1: public apology from federal MP Bob Catter after a fiery 45 00:02:34,720 --> 00:02:39,720 Speaker 1: press conference where the MP threatened a reporter and branded 46 00:02:39,800 --> 00:02:42,280 Speaker 1: him a racist. Now. If you haven't seen the footage, 47 00:02:42,320 --> 00:02:46,240 Speaker 1: it is worth checking out online. Josh Bavas had asked 48 00:02:46,400 --> 00:02:50,000 Speaker 1: about mister Catter's Lebanese heritage in the context of his 49 00:02:50,080 --> 00:02:53,079 Speaker 1: comments about migration, when the eighty year old cut him off, 50 00:02:53,120 --> 00:02:56,480 Speaker 1: saying he'd punch blokes in the mouth for asking that. 51 00:02:56,600 --> 00:02:58,799 Speaker 1: He then told the rest of the press pack, this 52 00:02:58,880 --> 00:03:01,200 Speaker 1: man is a racist. I won't listen to him now. 53 00:03:01,320 --> 00:03:05,000 Speaker 1: Nine's news director called the behavior unacceptable and said Bavas 54 00:03:05,120 --> 00:03:09,360 Speaker 1: was asking a legitimate question. The reporter himself described the 55 00:03:09,400 --> 00:03:12,320 Speaker 1: exchange as extraordinary, saying in nearly twenty years he'd never 56 00:03:12,400 --> 00:03:16,720 Speaker 1: seen such reaction from an elected official. Story number four 57 00:03:16,919 --> 00:03:21,480 Speaker 1: Expelled Iranian ambassador Ahmed Today has been spotted leaving his 58 00:03:21,600 --> 00:03:25,160 Speaker 1: residence in Canberra waving to journalists while refusing to answer 59 00:03:25,240 --> 00:03:29,120 Speaker 1: questions about his country's role in recent anti Semitic attacks. Today, 60 00:03:29,160 --> 00:03:31,880 Speaker 1: he said, this is a quote. I love Australian people. 61 00:03:31,960 --> 00:03:36,119 Speaker 1: Bye bye. The Australian newspaper described him as smirking as 62 00:03:36,160 --> 00:03:39,240 Speaker 1: he left. Staffers were seen carrying boxes from the property 63 00:03:39,240 --> 00:03:41,480 Speaker 1: ahead of his departure, with less than twenty four hours 64 00:03:41,560 --> 00:03:45,480 Speaker 1: left before he must leave the country having been expelled 65 00:03:45,520 --> 00:03:49,600 Speaker 1: by the federal government. His exit follows revelations from as 66 00:03:49,720 --> 00:03:53,880 Speaker 1: O chief Mike Burgess that Iran's Revolutionary Guard directed arson 67 00:03:54,040 --> 00:03:58,000 Speaker 1: attacks on two Jewish sites in Sydney and Melbourne, using 68 00:03:58,040 --> 00:04:02,320 Speaker 1: middleman and organized crime fear to attempt to hide its involvement. 69 00:04:03,040 --> 00:04:07,520 Speaker 1: And finally, story number five. Chip maker Nvidia has smashed 70 00:04:07,640 --> 00:04:11,880 Speaker 1: expectations again, posting quarterly revenue of forty six point seven 71 00:04:12,000 --> 00:04:16,760 Speaker 1: billion US dollars and twenty five point eight billion US 72 00:04:16,800 --> 00:04:20,480 Speaker 1: dollars in profit, both ahead of forecasts, and it's guiding 73 00:04:20,560 --> 00:04:24,080 Speaker 1: to fifty four US billion in sales next quarter. You 74 00:04:24,080 --> 00:04:29,280 Speaker 1: would think with results like that, where they have exceeded expectations, 75 00:04:29,279 --> 00:04:32,640 Speaker 1: investors would have been pleased. Not the case. Shares an 76 00:04:32,640 --> 00:04:37,400 Speaker 1: Invidia dipped about two percent in after ours trading growth 77 00:04:37,440 --> 00:04:41,360 Speaker 1: is slowing, it seems. Sales rose just fifty six percent, 78 00:04:41,720 --> 00:04:44,880 Speaker 1: down from triple digit gains a year ago. Data center 79 00:04:44,920 --> 00:04:48,640 Speaker 1: revenue missed estimates for the second straight quarter. See of 80 00:04:48,800 --> 00:04:52,400 Speaker 1: Nvidia Jensen Huang did brush off concerns. He said AI 81 00:04:52,480 --> 00:04:55,480 Speaker 1: spending could hit four trillion US dollars by twenty thirty 82 00:04:55,720 --> 00:04:59,040 Speaker 1: and that Invidia will remain at the center of the boom. 83 00:04:59,440 --> 00:05:02,279 Speaker 1: That's it the Afternoon Report for Thursday, the twenty eighth 84 00:05:02,279 --> 00:05:04,680 Speaker 1: of August twenty twenty five. Make sure you follow on 85 00:05:04,760 --> 00:05:07,200 Speaker 1: the podcast and we'll be back tomorrow morning with the 86 00:05:07,200 --> 00:05:10,239 Speaker 1: Friday edition of Fear and Greed. I'm Michael Thompson. Enjoy 87 00:05:10,279 --> 00:05:10,719 Speaker 1: your evening.