1 00:00:04,120 --> 00:00:06,840 Speaker 1: Welcome to the Fearing Greed Business News. The Afternoon Report 2 00:00:06,840 --> 00:00:09,680 Speaker 1: for Tuesday, the twenty fourth of June twenty twenty five. 3 00:00:09,800 --> 00:00:12,480 Speaker 1: I'm shaan alma. Every afternoon, We've got the five stories 4 00:00:12,520 --> 00:00:14,520 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,640 --> 00:00:17,880 Speaker 1: number one. The ASX closed up one percent today following 6 00:00:17,920 --> 00:00:21,680 Speaker 1: a ceasefire between Iran and Israel. It followed an ineffective 7 00:00:21,720 --> 00:00:25,799 Speaker 1: bombing by Iran of a US military site overnight. The 8 00:00:25,840 --> 00:00:28,560 Speaker 1: local market finished at eight thousand, five hundred and fifty 9 00:00:28,600 --> 00:00:31,479 Speaker 1: six points. Most sectors did well, with the exception of 10 00:00:31,600 --> 00:00:35,159 Speaker 1: energy stocks, which fell alongside the price of oil. Woodside 11 00:00:35,200 --> 00:00:39,120 Speaker 1: tumbled seven percent. Kroon Energy was off eight percent, while Santos, 12 00:00:39,159 --> 00:00:42,360 Speaker 1: Origin Energy and Viva Energy were all sharply lower. The 13 00:00:42,360 --> 00:00:45,040 Speaker 1: big banks were stronger. Commonwealth Bank finished up two percent, 14 00:00:45,200 --> 00:00:49,320 Speaker 1: giving it a market capitalization of three hundred and fifteen 15 00:00:49,440 --> 00:00:53,360 Speaker 1: billion dollars, quite incredible. National Australia Bank and Westpac were 16 00:00:53,400 --> 00:00:55,480 Speaker 1: also up sharply. The big miners did well, for to 17 00:00:55,560 --> 00:00:59,959 Speaker 1: Skew BHP in Rio all ended two to three percent high. 18 00:01:00,560 --> 00:01:04,080 Speaker 1: Story number two. Virgin Australia rejoined the AX today and 19 00:01:04,120 --> 00:01:06,600 Speaker 1: by the close it had risen eleven percent. It was 20 00:01:06,600 --> 00:01:08,720 Speaker 1: a good day all around for travel stocks. Quantus jumped 21 00:01:08,760 --> 00:01:11,360 Speaker 1: three percent on the back of falling oil prices and 22 00:01:11,400 --> 00:01:15,479 Speaker 1: reduced fears about flying Roots. Twenty four hours ago, Virgin 23 00:01:15,520 --> 00:01:18,160 Speaker 1: planes had to be diverted from the Middle East, while 24 00:01:18,200 --> 00:01:21,759 Speaker 1: other carriers were canceling Roots. Looking better now. Corporate Travel 25 00:01:21,760 --> 00:01:24,720 Speaker 1: Management jump nearly five percent today, while flight Center and 26 00:01:24,720 --> 00:01:26,759 Speaker 1: web Trable both up about two and a half percent. 27 00:01:27,120 --> 00:01:30,560 Speaker 1: With the very noticeable exceptional Quantas, which has risen more 28 00:01:30,560 --> 00:01:33,399 Speaker 1: than seventy percent over the past year, the other major 29 00:01:33,440 --> 00:01:37,080 Speaker 1: treble stocks have all gone backwards over the past twelve months. 30 00:01:37,319 --> 00:01:40,320 Speaker 1: Story number three Treasury Wine Estates, has cut its twenty 31 00:01:40,319 --> 00:01:44,640 Speaker 1: twenty five twenty six growth projections for its flagship Penfolds brand, 32 00:01:45,120 --> 00:01:48,840 Speaker 1: and it's also flagged a five percent share buyback this year. 33 00:01:49,280 --> 00:01:51,480 Speaker 1: Despite the weaker outlook, the company has no plan to 34 00:01:51,480 --> 00:01:55,280 Speaker 1: cut Penfols prices, saying the demand for premium winds remains solid. 35 00:01:55,640 --> 00:01:59,160 Speaker 1: Treasury blames the downgrade on the cost of additional staff 36 00:01:59,240 --> 00:02:02,400 Speaker 1: hires to boost Chief executive Tim Ford, who departs the 37 00:02:02,400 --> 00:02:04,840 Speaker 1: company later in the year, says the global decline in 38 00:02:04,880 --> 00:02:07,559 Speaker 1: wine consumption has been confined to the under fifteen dollars 39 00:02:07,600 --> 00:02:10,480 Speaker 1: a bottle range. Story number four. The share price of 40 00:02:10,520 --> 00:02:14,600 Speaker 1: Colin's Foods, operator of KFC in Australia, jumped seventeen percent 41 00:02:14,639 --> 00:02:18,560 Speaker 1: today after boss Xavier Simina said lower interest rates are 42 00:02:18,560 --> 00:02:22,280 Speaker 1: starting to help consumer sentiment. The share price rise came 43 00:02:22,480 --> 00:02:25,400 Speaker 1: despite Colin's reporting an eighty nine percent drop in profit, 44 00:02:25,720 --> 00:02:28,880 Speaker 1: in large part thanks to its struggling operations in the Netherlands. 45 00:02:28,919 --> 00:02:31,720 Speaker 1: In that country, anti American sentiment and much higher energy 46 00:02:31,760 --> 00:02:35,280 Speaker 1: and labor costs have cold earnings. It is better news 47 00:02:35,360 --> 00:02:38,480 Speaker 1: back home, with jen Z customers spending more at Collins's 48 00:02:38,520 --> 00:02:41,240 Speaker 1: KFC outlets in the past couple of months. It is 49 00:02:41,320 --> 00:02:44,200 Speaker 1: having a harder time though, with its Taco Bell brand, 50 00:02:44,480 --> 00:02:48,360 Speaker 1: which is up against Gusman Ego baz and Story number five. 51 00:02:48,520 --> 00:02:51,760 Speaker 1: The first NATO Summit, the New Trump World kicks off 52 00:02:51,800 --> 00:02:54,440 Speaker 1: tonight in the Netherlands with US support of Europe top 53 00:02:54,480 --> 00:02:57,240 Speaker 1: of the agenda. Trump has made it clear he doesn't 54 00:02:57,280 --> 00:03:01,440 Speaker 1: want NATO members free loading. It's his word. Off the 55 00:03:01,520 --> 00:03:04,640 Speaker 1: US security guarantees European allies want to improve. They are 56 00:03:04,680 --> 00:03:08,600 Speaker 1: spending money on defense, according to analysts. NATO Secretary General 57 00:03:08,960 --> 00:03:13,079 Speaker 1: Mark Rutt designed this summit around Trump wanting to flatter 58 00:03:13,160 --> 00:03:16,200 Speaker 1: him by agreeing to massive hikes in defense spending to 59 00:03:16,240 --> 00:03:19,680 Speaker 1: show that Europeans will now take more responsibility for their 60 00:03:19,680 --> 00:03:22,720 Speaker 1: own security. But developments over the past few days has 61 00:03:22,760 --> 00:03:25,160 Speaker 1: changed the ground rules, with the Middle East likely to 62 00:03:25,200 --> 00:03:27,760 Speaker 1: get a bigger run. That's it for the afternoon report 63 00:03:27,760 --> 00:03:30,280 Speaker 1: for Tuesday, the twenty fourth June twenty twenty five. Make 64 00:03:30,280 --> 00:03:32,280 Speaker 1: sure you hit follow on the podcast. We will be 65 00:03:32,320 --> 00:03:34,480 Speaker 1: back tomorrow morning with a Wednesday edition of the past 66 00:03:34,520 --> 00:03:37,440 Speaker 1: five business news by Fear and Greek. I'm Sean Elma. 67 00:03:37,920 --> 00:03:38,640 Speaker 1: Enjoy your evening.