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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the twentieth of May twenty twenty four. I'm

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Speaker 1: Sean Alma. Every afternoon, We've got the five stories that

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Speaker 1: happen today that you need to know about. Story number one.

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Speaker 1: The local share market moved within twenty six points of

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Speaker 1: its record high today, touching eight hundred and seventy one points,

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Speaker 1: before finishing up just over half percent to seven eight

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Speaker 1: hundred and sixty three point seven points. Now that means

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Speaker 1: it's just thirty three points off its record close of

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Speaker 1: eight hundred and ninety six point four points. The energy

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Speaker 1: and material sectors were the best performers, with BHP, Santos

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Speaker 1: of Woodside all closing up around two percent, while Rea

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Speaker 1: Tinto finished three percent high the rally and the miners

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Speaker 1: came amid a big jump in metals prices. The gold

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Speaker 1: stocks also did well, with Evolution Mining, Gold, Road Resources,

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Speaker 1: and Regis all performing strongly. The lagguards included CSL West Farmers,

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Speaker 1: Goodman Group, Woolli's Transurban, Wise Tech Global, and Telstrap to

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Speaker 1: Agribusiness Elders has announced its worst profit in a decade

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Speaker 1: after farmers sold off cattle herds fearful of extended hot

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Speaker 1: and dry conditions. Elder's profit fell seventy six percent to

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Speaker 1: under twelve million dollars for the six months to the

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Speaker 1: end of March, and Boch's Mark Allison in part blamed

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Speaker 1: it on an incorrect prediction of El Nino weather conditions.

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Speaker 1: The Bureau of Meteorology warning last year triggered the sale

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Speaker 1: of livestock, and as result, farmers didn't buy supplies from Elders.

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Speaker 1: Mister Allison said the disappointing six months was a one

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Speaker 1: off and livestock markets have started to recover. Elders had

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Speaker 1: warned of the profit downgrade, and after today's announcement in

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Speaker 1: mister Allison's comments, the stock actually rose one percent. Story

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Speaker 1: number three. The share price of new He jumped twenty

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Speaker 1: five percent today after the software groups said it would

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Speaker 1: be its target revenue growth of ten percent this financial

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Speaker 1: lim The group surprized today with an unscheduled trading update

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Speaker 1: after it said it had signed a multi year contract

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Speaker 1: with an undisclosed customer. Today's search is some relief from

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Speaker 1: shareholders who have seen the value of the company four

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Speaker 1: by about seventy percent since listing. Neui is still awaiting

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Speaker 1: federal court judgment over allegations by Assek that it misled

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Speaker 1: the market in the wake of its initial public offering.

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Speaker 1: The company denies those claims. Story A number four jewelry

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Speaker 1: retailer Michael Hill's share price tumble twenty three percent today

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Speaker 1: after it warned of a slump in sales. The group

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Speaker 1: said positive sales momentum had been expected through the second half,

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Speaker 1: in line with anticipated improvements in consumer sentiment and economic conditions,

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Speaker 1: but unfortunately that hasn't happened. While the business in Australia

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Speaker 1: is doing okay, the New Zealand operations are the most challenged.

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Speaker 1: Michael Hill went on to say that two of the

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Speaker 1: reasons were a decline in consumer credit approval rates across

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Speaker 1: the country and an increase in serious retail crime events

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Speaker 1: that's impacting a number of its stores. CEO of Michael

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Speaker 1: Hill International, Daniel Bracken said consumer discretionary spend and the

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Speaker 1: fine jewelry category in particular remains under pressure due to

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Speaker 1: macroeconomic forces. And finally, Story number five, Iranian President Ebrahimarzi,

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Speaker 1: the country's foreign minister, and other officials are confirmed dead

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Speaker 1: after their helicopter crashed in the mountainous northwest regions of Iran.

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Speaker 1: Rescuers saw no signs of life as they approached the

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Speaker 1: helicopter from a distance. According to Iranian TV, the officials

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Speaker 1: had been missing for more than twelve hours after their

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Speaker 1: helicopter went down in dense fog, which had complicated subsequent

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Speaker 1: search efforts. Mister Razi, a conservative who violently crushed dissent,

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Speaker 1: was widely viewed as a possible successor to Iran Supreme Leader.

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Speaker 1: Iran under mister Razzi and Supreme Leader Ayatolli Ali Kahmani

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Speaker 1: launched a drone and missile attack on Israel last month

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Speaker 1: under his real Uranium and Richmond has progressed to near

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Speaker 1: weapons grade levels, the economy has struggled, and there have

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Speaker 1: been unrest over women's rights. That's it the Afternoon Report

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Speaker 1: for Monday, the twentieth of May twenty twenty four. Michael

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Speaker 1: Thompson and I will be back tomorrow morning with a

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Speaker 1: juice edition. Fearing green business needs, I'm Sean aelma enjoy

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Speaker 1: revening