1 00:00:03,640 --> 00:00:06,440 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,519 --> 00:00:09,480 Speaker 1: for Friday, the thirteenth of February twenty twenty six. I'm 3 00:00:09,480 --> 00:00:12,040 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,039 --> 00:00:14,240 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,280 --> 00:00:17,840 Speaker 1: go we storing number one. The SMPAX two hundred fell 6 00:00:18,120 --> 00:00:21,240 Speaker 1: one point four percent to day to eighty nine hundred 7 00:00:21,239 --> 00:00:24,040 Speaker 1: and eighteen points nine of the eleven sectors were in 8 00:00:24,079 --> 00:00:27,400 Speaker 1: the red. Tech stocs led the way down. The sell 9 00:00:27,440 --> 00:00:30,600 Speaker 1: off that started last week really over fears that AI 10 00:00:30,760 --> 00:00:34,000 Speaker 1: could eat the software company's lunch seems to be building 11 00:00:34,040 --> 00:00:36,479 Speaker 1: a bit of pace now after taking a breather earlier 12 00:00:36,520 --> 00:00:39,720 Speaker 1: in the week. Today, Wise Tech Global fell more than 13 00:00:39,760 --> 00:00:42,880 Speaker 1: ten percent. Technology one was off more than seven percent. 14 00:00:43,400 --> 00:00:46,559 Speaker 1: Zero was down four and a half percent. The Financial 15 00:00:46,600 --> 00:00:49,120 Speaker 1: Review reports that the tech sector on the ASEX has 16 00:00:49,159 --> 00:00:52,239 Speaker 1: now lost twenty three percent of its value over the 17 00:00:52,280 --> 00:00:55,640 Speaker 1: past month. Meanwhile, the banks lost a little ground today 18 00:00:55,680 --> 00:00:58,120 Speaker 1: after a couple of stellar sessions. Commonwealth Bank was off 19 00:00:58,120 --> 00:01:02,120 Speaker 1: one point four percent, nabdown one point one percent. Westpac 20 00:01:02,200 --> 00:01:05,160 Speaker 1: reported a profit of one point nine billion dollars for 21 00:01:05,240 --> 00:01:08,759 Speaker 1: the quarter, but its share price dipped one point two percent. 22 00:01:08,880 --> 00:01:11,200 Speaker 1: A and Z climbed a bit more after its an 23 00:01:11,200 --> 00:01:15,280 Speaker 1: incredible day yesterday, while AMP recovered some ground. It was 24 00:01:15,400 --> 00:01:18,600 Speaker 1: up nine percent today after falling around twenty six percent 25 00:01:18,680 --> 00:01:21,479 Speaker 1: yesterday on the back of its results. Got more big 26 00:01:21,560 --> 00:01:24,560 Speaker 1: moves in share prices today for companies reporting their results, 27 00:01:24,600 --> 00:01:28,039 Speaker 1: but we'll get to those in a moment. Story number two. 28 00:01:28,200 --> 00:01:31,200 Speaker 1: Angus Taylor is the new leader of the Liberal Party, 29 00:01:31,360 --> 00:01:34,640 Speaker 1: toppling Susan Lee in a party room spill shortly after 30 00:01:34,760 --> 00:01:38,280 Speaker 1: nine am today. He won the leadership by a considerable margin. 31 00:01:38,560 --> 00:01:41,200 Speaker 1: It was thirty four votes to seventeen in the end, 32 00:01:41,480 --> 00:01:45,960 Speaker 1: with Victorian senator Jane Hume elected deputy leader, defeating Ted 33 00:01:46,000 --> 00:01:49,560 Speaker 1: O'Brien thirty votes to twenty. In his first press conference 34 00:01:49,720 --> 00:01:53,880 Speaker 1: as leader, Taylor flagged immigration policy and lower taxes as 35 00:01:54,040 --> 00:01:57,240 Speaker 1: key issues for the Liberal Party, and he actually included 36 00:01:57,320 --> 00:02:00,840 Speaker 1: a direct pitch to Liberal voters who were considering a 37 00:02:00,960 --> 00:02:04,320 Speaker 1: switch to one Nation, hoping to convince them to remain 38 00:02:04,520 --> 00:02:08,200 Speaker 1: with the Libs. After losing the leadership, Lee announced that 39 00:02:08,200 --> 00:02:10,920 Speaker 1: she would be resigning from politics. That will trigger a 40 00:02:10,960 --> 00:02:13,520 Speaker 1: by election in her seat of Parah, which is held 41 00:02:13,760 --> 00:02:15,799 Speaker 1: since two thousand and nine. I think it is as 42 00:02:15,840 --> 00:02:17,919 Speaker 1: she said that she's looking forward to stepping away from 43 00:02:17,960 --> 00:02:21,040 Speaker 1: public life to spend time with family and to reconnect 44 00:02:21,080 --> 00:02:24,840 Speaker 1: it with her passion for aviation. Story number three. Plenty 45 00:02:24,840 --> 00:02:27,400 Speaker 1: of companies, as I mentioned before, reporting results today and 46 00:02:27,480 --> 00:02:29,960 Speaker 1: plenty of big swings in share prices as a result. 47 00:02:30,080 --> 00:02:35,000 Speaker 1: Hearing implant company Cocklear tumbled nearly nineteen percent today after 48 00:02:35,040 --> 00:02:38,359 Speaker 1: reporting a twenty one percent drop in net profit, missing expectations. 49 00:02:38,800 --> 00:02:43,400 Speaker 1: Shipbuilder Ostel dropped twenty three percent after cutting its earnings guidance. 50 00:02:43,919 --> 00:02:46,960 Speaker 1: This is largely due to an accounting error. It's US 51 00:02:47,040 --> 00:02:52,040 Speaker 1: subsidiary double counted twenty four million dollars worth of incentives 52 00:02:52,040 --> 00:02:54,600 Speaker 1: that were received during the manufacture of ships for the 53 00:02:54,720 --> 00:02:58,639 Speaker 1: US Navy. That's got a hurt. Webjet was off twenty 54 00:02:58,680 --> 00:03:02,080 Speaker 1: five percent after reducing its full year guidance and also 55 00:03:02,240 --> 00:03:05,720 Speaker 1: ending takeover talks with Holloworld and BGH Capital after failing 56 00:03:05,760 --> 00:03:11,000 Speaker 1: to receive a binding offer. And furniture retailer nick Scaly 57 00:03:11,080 --> 00:03:14,320 Speaker 1: fell twenty two percent with local sales lower than expected 58 00:03:14,360 --> 00:03:17,000 Speaker 1: despite a pretty strong result from its UK outlets. And 59 00:03:17,040 --> 00:03:20,560 Speaker 1: one more. Investment management company GQG Partners jumped more than 60 00:03:20,600 --> 00:03:24,560 Speaker 1: seven percent on higher revenue. In twenty twenty five. Story 61 00:03:24,639 --> 00:03:27,559 Speaker 1: number four one from the US, where the Trump administration 62 00:03:27,720 --> 00:03:31,720 Speaker 1: says it is ending its large scale immigration crackdown in Minnesota, 63 00:03:32,120 --> 00:03:35,160 Speaker 1: drawing down thousands of federal agents after more than two 64 00:03:35,200 --> 00:03:38,760 Speaker 1: months of pretty tense standoffs with local officials and residents. 65 00:03:39,440 --> 00:03:43,440 Speaker 1: The operation saw around three thousand agents deployed to the state, 66 00:03:43,480 --> 00:03:47,720 Speaker 1: with more than four thousand undocumented immigrants arrested and two 67 00:03:47,880 --> 00:03:52,240 Speaker 1: US citizens who were killed during clashes with agents. The 68 00:03:52,280 --> 00:03:55,800 Speaker 1: New York Times reports Minnesota Governor Tim Walls said he 69 00:03:55,920 --> 00:04:00,080 Speaker 1: is cautiously optimistic but is urging residents to remain vigild. 70 00:04:00,680 --> 00:04:04,320 Speaker 1: Local leaders have described the operation as damaging to families 71 00:04:04,320 --> 00:04:07,280 Speaker 1: and businesses, while federal officials say it made the state 72 00:04:07,560 --> 00:04:11,560 Speaker 1: quote less of a sanctuary for criminals. And last one 73 00:04:11,800 --> 00:04:14,440 Speaker 1: story number five, let's finish on some good news to 74 00:04:14,600 --> 00:04:17,719 Speaker 1: end the week. Australia was celebrating its first gold medal 75 00:04:18,160 --> 00:04:22,479 Speaker 1: of the Milano Cortina Winter Olympics after Cooper Woods stunned 76 00:04:22,560 --> 00:04:25,440 Speaker 1: the field to win the men's moguls. This is incredible. 77 00:04:25,440 --> 00:04:27,560 Speaker 1: If you haven't seen it, you need to watch it. 78 00:04:27,640 --> 00:04:30,200 Speaker 1: The twenty five year old from the New South Wales 79 00:04:30,279 --> 00:04:33,960 Speaker 1: South Coast, was ranked twentieth in the world. Considered a 80 00:04:33,960 --> 00:04:38,080 Speaker 1: pretty long shot, but he delivered a near perfect final 81 00:04:38,240 --> 00:04:42,359 Speaker 1: run to finish tied on points with a former gold 82 00:04:42,400 --> 00:04:46,640 Speaker 1: medalist from Canada. Woods was awarded gold on accountback thanks 83 00:04:46,680 --> 00:04:49,120 Speaker 1: to a higher score for his turns as an upset. 84 00:04:49,240 --> 00:04:52,720 Speaker 1: It's actually drawing comparisons to Stephen Bradbury's shock win back 85 00:04:52,720 --> 00:04:55,960 Speaker 1: in two thousand and two, and is even more remarkable 86 00:04:56,000 --> 00:04:59,039 Speaker 1: when you consider that Woods tore a Patel attendant last 87 00:04:59,040 --> 00:05:01,920 Speaker 1: season underwent surgery to return in time for the Games. 88 00:05:02,040 --> 00:05:04,840 Speaker 1: His celebration plan is very simple and you've got to 89 00:05:04,880 --> 00:05:08,039 Speaker 1: say very Australian and I quote he said, let's go 90 00:05:08,120 --> 00:05:10,880 Speaker 1: to the pub for beers. There you go. That's it 91 00:05:10,920 --> 00:05:13,680 Speaker 1: for the Afternoon Report for Friday, the thirteenth of February. 92 00:05:13,920 --> 00:05:16,040 Speaker 1: Make sure you're following the podcast and head along to 93 00:05:16,120 --> 00:05:18,600 Speaker 1: Fearangreed dot com dot au to sign up for our 94 00:05:18,640 --> 00:05:21,719 Speaker 1: free daily newsletter. I'm Michael Thompson. Enjoy your evening.