1 00:00:03,480 --> 00:00:06,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:08,879 Speaker 1: for Monday, the ninth of February twenty twenty six. Oh 3 00:00:08,920 --> 00:00:11,480 Speaker 1: Michael Thompson, and every afternoon, we've got the five stories 4 00:00:11,520 --> 00:00:13,680 Speaker 1: that happened today that you need to know about. Let's 5 00:00:13,680 --> 00:00:15,920 Speaker 1: go with story number one. The S and p ASX 6 00:00:16,000 --> 00:00:19,919 Speaker 1: two hundred had an incredible day. It surged one point 7 00:00:20,079 --> 00:00:23,920 Speaker 1: nine percent to eight hundred and seventy points. That is 8 00:00:24,040 --> 00:00:27,200 Speaker 1: its biggest one day rise since April of last year, 9 00:00:27,520 --> 00:00:29,800 Speaker 1: but it did follow a two percent drop on Friday 10 00:00:29,800 --> 00:00:32,720 Speaker 1: that wiped about sixty five billion dollars in value from 11 00:00:32,760 --> 00:00:35,479 Speaker 1: the market. Every sector today was in the green, but 12 00:00:35,520 --> 00:00:38,400 Speaker 1: it was a particularly good session for the tech sector 13 00:00:38,800 --> 00:00:41,839 Speaker 1: after a very ordinary week last week. Wise Tech Global 14 00:00:41,960 --> 00:00:45,560 Speaker 1: and Technology One both climbed around three and a half percent. 15 00:00:46,040 --> 00:00:48,920 Speaker 1: In a related space, data center operators like next DC, 16 00:00:49,159 --> 00:00:51,960 Speaker 1: Megaport and Goodman surged off the back of comments from 17 00:00:52,000 --> 00:00:54,480 Speaker 1: Commonwealth Bank that Australia is one of the world's top 18 00:00:54,520 --> 00:00:58,360 Speaker 1: destinations for AI investment, and the price of gold bounced 19 00:00:58,400 --> 00:01:01,480 Speaker 1: back above five thousand US dollars, an ounce which played 20 00:01:01,520 --> 00:01:04,559 Speaker 1: well for the local gold miners. Newmont was up six 21 00:01:04,560 --> 00:01:07,479 Speaker 1: point five percent today. A jumping commodity price has also 22 00:01:07,680 --> 00:01:10,679 Speaker 1: helped mining giant BHP, which is up nearly two percent 23 00:01:11,400 --> 00:01:13,160 Speaker 1: on to story number two now and there are a 24 00:01:13,240 --> 00:01:17,480 Speaker 1: number of smaller companies reporting December half earnings today. Online 25 00:01:17,600 --> 00:01:20,680 Speaker 1: Jobs Board seeks share price fell after it recognized a 26 00:01:20,720 --> 00:01:23,520 Speaker 1: three hundred and sixty five million dollar impairment tied to 27 00:01:23,560 --> 00:01:28,120 Speaker 1: its investment in a Chinese based platform. Dexas Convenience retail 28 00:01:28,200 --> 00:01:31,280 Speaker 1: rate jumped after reporting a near doubling of net profit. 29 00:01:32,040 --> 00:01:35,920 Speaker 1: Dexas has about ninety one retail assets. Car Group surged 30 00:01:35,959 --> 00:01:38,720 Speaker 1: almost ten percent after it met market expectations with a 31 00:01:38,720 --> 00:01:41,560 Speaker 1: profit of one hundred and forty three million dollars, which 32 00:01:41,600 --> 00:01:45,120 Speaker 1: was up sixteen percent. Argo Investments rose after a slight 33 00:01:45,200 --> 00:01:48,600 Speaker 1: rise in its net profit, and Web Travel jumped nearly 34 00:01:48,720 --> 00:01:52,000 Speaker 1: nineteen percent. I saved the best for last after tumbling 35 00:01:52,040 --> 00:01:56,840 Speaker 1: thirty percent last Friday after reaffirming its profit guidance. Friday's 36 00:01:56,880 --> 00:01:59,920 Speaker 1: full came after an announcement that the group's Spanish business 37 00:02:00,240 --> 00:02:03,920 Speaker 1: was being audited. On to story number three, the coalition's 38 00:02:03,960 --> 00:02:07,840 Speaker 1: primary vote has plunged to just eighteen percent, while One 39 00:02:07,960 --> 00:02:11,040 Speaker 1: Nation support has surged to twenty seven percent. According to 40 00:02:11,080 --> 00:02:14,360 Speaker 1: a new news poll published today in The Australian, support 41 00:02:14,400 --> 00:02:17,800 Speaker 1: for One Nation is now closer to Labour's primary vote 42 00:02:17,840 --> 00:02:21,200 Speaker 1: than to the coalition. The poll shows Labour's primary vote 43 00:02:21,200 --> 00:02:24,160 Speaker 1: lifting to thirty three percent, putting it on track for 44 00:02:24,200 --> 00:02:26,600 Speaker 1: a larger election win than last year if the result 45 00:02:26,720 --> 00:02:29,040 Speaker 1: was to be repeated nationally, though we don't actually know 46 00:02:29,120 --> 00:02:32,880 Speaker 1: the usual two party preferred split because the Coalition's primary 47 00:02:32,919 --> 00:02:36,320 Speaker 1: vote is so low and One Nation's support is usually 48 00:02:36,320 --> 00:02:39,639 Speaker 1: focused on just a few key seats. The results come 49 00:02:39,680 --> 00:02:42,919 Speaker 1: after the Liberals and Nationals, of course, formally reunited over 50 00:02:42,919 --> 00:02:46,120 Speaker 1: the weekend following a seventeen day split, with National's lead 51 00:02:46,120 --> 00:02:50,720 Speaker 1: at David little Prowd declaring the episode showed maturity and leadership. 52 00:02:51,360 --> 00:02:54,480 Speaker 1: Story number four. Labour's plan to finish the national broadband 53 00:02:54,639 --> 00:02:58,160 Speaker 1: network by rolling out faster fiber connections to most homes 54 00:02:58,200 --> 00:03:02,240 Speaker 1: and businesses won't be completely until twenty forty, according to 55 00:03:02,280 --> 00:03:05,919 Speaker 1: government documents reported in The Australian. The upgrade, announced before 56 00:03:05,960 --> 00:03:09,440 Speaker 1: the twenty twenty five election, aims to connect an additional 57 00:03:09,480 --> 00:03:12,280 Speaker 1: six hundred and twenty two thousand premises at a total 58 00:03:12,320 --> 00:03:15,720 Speaker 1: cost of about five billion dollars. The first stage of 59 00:03:15,720 --> 00:03:18,480 Speaker 1: the rollout isn't expected to be completed until mid twenty 60 00:03:18,560 --> 00:03:21,639 Speaker 1: thirty two are the second stage, extending the project's timeline 61 00:03:21,639 --> 00:03:25,960 Speaker 1: by another eight years. If completed as forecast, the NBN 62 00:03:26,000 --> 00:03:29,200 Speaker 1: will have taken more than thirty years from announcement to finish, 63 00:03:29,520 --> 00:03:34,720 Speaker 1: making it the longest running individual infrastructure project in Australia's history. 64 00:03:35,280 --> 00:03:38,280 Speaker 1: And finally, story number five, the Jeffrey Epstein saga has 65 00:03:38,320 --> 00:03:40,680 Speaker 1: claimed a major scalp, with the chief of staff to 66 00:03:40,840 --> 00:03:44,280 Speaker 1: UK Prime Minister Keir Starmer resigning. There is a fair 67 00:03:44,320 --> 00:03:47,640 Speaker 1: bit to this. Chief of Staff, Morgan McSweeney, stepped down 68 00:03:47,920 --> 00:03:51,280 Speaker 1: after criticism over his role in pushing for Peter Mandelson 69 00:03:51,480 --> 00:03:55,560 Speaker 1: to be appointed Britain's ambassador to the US last year. Now, Mandalson, 70 00:03:55,560 --> 00:03:57,840 Speaker 1: who was a member of the House of Lords, allegedly 71 00:03:57,840 --> 00:04:01,040 Speaker 1: had ties to convicted sex offender Jef Free Epstein and 72 00:04:01,120 --> 00:04:05,160 Speaker 1: officials reportedly warned McSweeney on two occasions, and yet he 73 00:04:05,240 --> 00:04:08,000 Speaker 1: still insisted Mandleson was the best person for the job. 74 00:04:08,360 --> 00:04:11,720 Speaker 1: Mandlsson was sacked later last year after the Epstein links 75 00:04:11,760 --> 00:04:15,160 Speaker 1: became public. In a statement, McSweeney said the decision to 76 00:04:15,200 --> 00:04:18,719 Speaker 1: appoint Mandleson was wrong and he accepted full responsibility for 77 00:04:18,760 --> 00:04:22,200 Speaker 1: advising the Prime Minister. His resignation is seen as an 78 00:04:22,200 --> 00:04:26,880 Speaker 1: attempt to stabilize Sir Keir Starmer's leadership after growing unrest 79 00:04:26,920 --> 00:04:30,240 Speaker 1: within the Labor Party. MP is basically threatening a leadership 80 00:04:30,320 --> 00:04:34,080 Speaker 1: challenge unless accountability was taken. Whether this will be enough 81 00:04:34,279 --> 00:04:36,599 Speaker 1: to let the UK Prime Minister keep his job, well, 82 00:04:36,760 --> 00:04:39,120 Speaker 1: that remains to be seen. That's it for the Afternoon 83 00:04:39,160 --> 00:04:42,159 Speaker 1: Report for Monday, the ninth of February twenty twenty six. 84 00:04:42,240 --> 00:04:44,520 Speaker 1: Make sure you're following the podcast and headlong to Fear 85 00:04:44,520 --> 00:04:46,320 Speaker 1: and Greed dot com dot au to sign up for 86 00:04:46,360 --> 00:04:49,760 Speaker 1: our free daily newsletter. I'm Michael Thompson. Enjoy your evening.