1 00:00:03,680 --> 00:00:07,000 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday, 2 00:00:07,040 --> 00:00:10,200 Speaker 1: the twenty fourth of June twenty twenty five. I'm shawan alma. 3 00:00:10,440 --> 00:00:12,800 Speaker 1: Every afternoon. We've got the five stories that happened today 4 00:00:12,800 --> 00:00:14,640 Speaker 1: that you need to know about. Story number one. The 5 00:00:14,680 --> 00:00:18,440 Speaker 1: ASX closed up one percent today following a ceasefire between 6 00:00:18,440 --> 00:00:22,640 Speaker 1: Iran and Israel. It followed an ineffective bombing by Iran 7 00:00:22,920 --> 00:00:26,480 Speaker 1: of a US military site overnight. The local market finished 8 00:00:26,480 --> 00:00:28,920 Speaker 1: at eight thousand, five hundred and fifty six points. Most 9 00:00:28,920 --> 00:00:32,040 Speaker 1: sectors did well, with the exception of energy stocks, which 10 00:00:32,040 --> 00:00:35,840 Speaker 1: fell alongside the price of oil. Woodside tumbled seven percent. 11 00:00:35,920 --> 00:00:39,440 Speaker 1: Kroon Energy was off eight percent, while Santos, Origin Energy 12 00:00:39,440 --> 00:00:42,400 Speaker 1: and Viva Energy were all sharply lower. The big banks 13 00:00:42,400 --> 00:00:45,279 Speaker 1: were stronger. Commonwealth Bank finished up two percent, giving it 14 00:00:45,400 --> 00:00:50,199 Speaker 1: a market capitalization of three hundred and fifteen billion dollars, 15 00:00:50,320 --> 00:00:53,720 Speaker 1: quite incredible. National Australia Bank and Westpac were also up sharply. 16 00:00:53,760 --> 00:00:56,560 Speaker 1: The big miners did well, for to Skew, BHP in 17 00:00:56,720 --> 00:01:00,840 Speaker 1: Rio all ended two to three percent higher. Story number two. 18 00:01:00,920 --> 00:01:04,200 Speaker 1: Virgin Australia rejoined the ASEX today and by the close 19 00:01:04,280 --> 00:01:06,560 Speaker 1: it had risen eleven percent. It was a good day 20 00:01:06,560 --> 00:01:08,880 Speaker 1: all around for travel stocks. Quantus jumped three percent on 21 00:01:08,920 --> 00:01:12,240 Speaker 1: the back of falling oil prices and reduced fears about 22 00:01:12,280 --> 00:01:15,679 Speaker 1: flying Roots. Twenty four hours ago, Virgin planes had to 23 00:01:15,680 --> 00:01:18,600 Speaker 1: be diverted from the Middle East while other carriers were 24 00:01:18,640 --> 00:01:22,160 Speaker 1: canceling Roots. Looking better now. Corporate Travel Management jump nearly 25 00:01:22,200 --> 00:01:25,000 Speaker 1: five percent today, while flight Center and web Trouble both 26 00:01:25,040 --> 00:01:27,680 Speaker 1: up about two and a half percent. With the very 27 00:01:27,680 --> 00:01:30,840 Speaker 1: noticeable exceptional Quantas, which has risen more than seventy percent 28 00:01:30,880 --> 00:01:33,760 Speaker 1: over the past year, the other major treble stocks have 29 00:01:33,880 --> 00:01:37,399 Speaker 1: all gone backwards over the past twelve months. Story number 30 00:01:37,440 --> 00:01:40,360 Speaker 1: three Treasury Wine Estates, has cut its twenty twenty five 31 00:01:40,360 --> 00:01:44,160 Speaker 1: to twenty six growth projections for its flagship Penfolds brand, 32 00:01:44,680 --> 00:01:47,760 Speaker 1: and it's also flagged a five percent share buy back 33 00:01:47,880 --> 00:01:50,600 Speaker 1: this year. Despite the weaker outlook, the company has no 34 00:01:50,680 --> 00:01:53,600 Speaker 1: plan to cut Penfolds prices. Same demand for premium wines 35 00:01:53,800 --> 00:01:57,960 Speaker 1: remains solid. Treasury blames the downgrade on the cost of 36 00:01:57,960 --> 00:02:01,360 Speaker 1: additional staff hires to boost sales. Chief executive Tim Ford, 37 00:02:01,360 --> 00:02:03,440 Speaker 1: who departs the company later in the year, says the 38 00:02:03,520 --> 00:02:06,080 Speaker 1: global decline in wine consumption has been confined to the 39 00:02:06,160 --> 00:02:09,360 Speaker 1: under fifteen dollars a bottle range. Story number four. The 40 00:02:09,400 --> 00:02:12,520 Speaker 1: share price of Colin's Foods, operator of KFC in Australia, 41 00:02:12,840 --> 00:02:17,160 Speaker 1: jumped seventeen percent today after boss Xavier Siminai said lower 42 00:02:17,280 --> 00:02:20,520 Speaker 1: interest rates are starting to help consumer sentiment. The share 43 00:02:20,560 --> 00:02:24,200 Speaker 1: price rise came despite Colin's reporting an eighty nine percent 44 00:02:24,280 --> 00:02:26,880 Speaker 1: drop in profit, in large part thanks to its struggling 45 00:02:26,880 --> 00:02:30,320 Speaker 1: operations in the Netherlands. In that country, anti American sentiment 46 00:02:30,400 --> 00:02:33,440 Speaker 1: and much higher energy in labour costs have cold earnings. 47 00:02:34,000 --> 00:02:37,160 Speaker 1: It is better newsback home, with jen Z customers spending 48 00:02:37,160 --> 00:02:40,200 Speaker 1: more at Collins's KFC outlets in the past couple of months. 49 00:02:40,480 --> 00:02:43,000 Speaker 1: It is having a harder time though, with its Taco 50 00:02:43,120 --> 00:02:46,800 Speaker 1: Bell brand, which is up against goodsman Ego baz and 51 00:02:46,880 --> 00:02:50,120 Speaker 1: Story number five. The first NATO Summit, the New Trump 52 00:02:50,160 --> 00:02:53,240 Speaker 1: World kicks off tonight in the Netherlands with US support 53 00:02:53,280 --> 00:02:55,840 Speaker 1: of Europe top of the agenda. Trump has made it 54 00:02:55,880 --> 00:03:00,000 Speaker 1: clear he doesn't want NATO members free loading. That's his work. 55 00:03:00,680 --> 00:03:03,880 Speaker 1: Off the US security guarantees. European allies want to improve. 56 00:03:03,960 --> 00:03:07,200 Speaker 1: They are spending money on defense, according to analysts. NATO 57 00:03:07,320 --> 00:03:12,200 Speaker 1: Secretary General Mark Rutt designed this summit around Trump, wanting 58 00:03:12,200 --> 00:03:14,880 Speaker 1: to flatter him by agreeing to massive hikes in defense 59 00:03:14,880 --> 00:03:19,000 Speaker 1: spending to show that Europeans will now take more responsibility 60 00:03:19,000 --> 00:03:21,840 Speaker 1: for their own security. But developments over the past few 61 00:03:21,919 --> 00:03:24,200 Speaker 1: days has changed the ground rules, with the Middle East 62 00:03:24,360 --> 00:03:26,600 Speaker 1: likely to get a bigger run. That's it for the 63 00:03:26,600 --> 00:03:29,679 Speaker 1: afternoon report for Tuesday, the twenty fourth June twenty twenty five. 64 00:03:29,720 --> 00:03:31,799 Speaker 1: Make sure you hit follow on the podcast. We will 65 00:03:31,840 --> 00:03:34,040 Speaker 1: be back tomorrow morning with a Wednesday edition of Fear 66 00:03:34,040 --> 00:03:36,920 Speaker 1: and Greed business News. I'm Chane Elma. Enjoy your evening.