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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 twenty sixth of August twenty twenty four.

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

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Speaker 1: that happened today that you need to know about. Story

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Speaker 1: number one. The S and PA six two hundred closed

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Speaker 1: up zero point eight percent today were eight thousand and

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Speaker 1: eighty five points. The riyes followed a strong leading from

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Speaker 1: Wall Street over the weekend, with the Telco, Energy, Financials,

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Speaker 1: and Consumer discretionary indices among the best performers. Consumer Stables

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Speaker 1: was the worst performing subindex. The Big four banks all

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Speaker 1: jumped sharply, so to the Uranium stocks, Woodside four to Skew, Aristocrat, Leisure,

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Speaker 1: Aria and West Farmers outperformed. James Hardy jumped five percent.

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Speaker 1: Underperformers included CSL Goodman Group, Telstra, Willis Weiss, Tech Global,

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Speaker 1: and Rio Tinto. Plenty of profit results out today. OSI

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Speaker 1: Broadband will pay its first dividend after it connected more

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Speaker 1: customers to the Internet and net profit jump by twenty

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Speaker 1: one percent, but it is cutting jobs to say money.

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Speaker 1: Ozzie's share of the national broadband market rose to seven

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Speaker 1: point four percent from six point six percent in the

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Speaker 1: twelve months to the end of June, helped by its

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Speaker 1: acquisition of Unity's Internet's broadband subscribers. Its enterprise division that

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Speaker 1: offers services to government and big business, also made up ground.

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Speaker 1: Its share price jumped to twelve percent. Today. Online beauty

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Speaker 1: retailer Door Beauty swung back to profit last financial here

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Speaker 1: and said sales in the first seven weeks of the

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Speaker 1: new year are up seven percent, though it did warn

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Speaker 1: that conditions will remain challenging. Its share price rose five percent.

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Speaker 1: A couple of announcements were very poorly received. Kelseyn Group

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Speaker 1: and IB Holdings were the two worst performers Ferry and

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Speaker 1: Transport Group to Keltian, so the company needed a one

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Speaker 1: hundred and eighty five million dollar reinvestment this financial year

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Speaker 1: that sent its share price down twenty four percent. Private

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Speaker 1: Health Insurance and IB Holding slumped seventeen percent after apporting

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Speaker 1: a sixty seven percent increase in full year NEIT profit. However,

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Speaker 1: that result was well below expectations. Story number two. The

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Speaker 1: Prime Minister and a civic Minister, Pat Conroy, are heading

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Speaker 1: to Tonga tomorrow to attend the Pacific Island's Forum Leaders meeting.

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Speaker 1: The meeting focuses on the region's collective prosperity and security.

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Speaker 1: Misster Ailbenezi said climate change remains the single greatest threat

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Speaker 1: to the livelihood's security and will being off Pacific Island communities. Meanwhile,

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Speaker 1: Government front bencher Murray Watt said the government is very

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Speaker 1: concerned about the escalating hostilities in the Middle East following

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Speaker 1: Israel and hasblar attacking each other. Senator What said that

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Speaker 1: the advice is Australians who are in Lebanon should get

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Speaker 1: out as quickly as they can. Story Number three Bendi

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Speaker 1: Go and Adelaide Bank has announced a five hundred and

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Speaker 1: sixty two million dollar cash profit topping analyst expectations on

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Speaker 1: the back of stabilizing arrears and rising customer numbers. The

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Speaker 1: number five retail bank produced a much better report compared

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Speaker 1: to the number six retail bank Bank of Queensland last week.

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Speaker 1: Bank of Queensland disappointed analysts. Chief executive of Bendigomarni Baker,

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Speaker 1: who is leaving the bank at the end of this week,

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Speaker 1: said the results demonstrate the strength, capability and differentiation of

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Speaker 1: the organization. Benigo's net interest margin, effectively its profit margin

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Speaker 1: slipped slightly, though it was better at the end of

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Speaker 1: the financial year compared to the beginning. The group's share

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Speaker 1: price closed down one percent today straight up before. The

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Speaker 1: boss of Pilbra Minerals has warned that the industry is

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Speaker 1: getting even tougher and more companies will close or mof

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Speaker 1: Boar Mines managing director Dale Henderson said lithium prices had

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Speaker 1: dropped another twenty two percent since the start of this

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Speaker 1: financial year, following a sixty seven percent four last year,

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Speaker 1: making it hard for all operators, particularly the smaller players.

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Speaker 1: Pilber reported an underlying net profit for the year to

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Speaker 1: the end of June of three hundred and eighteen million dollars,

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Speaker 1: down eighty six percent from last year. That's all in

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Speaker 1: the back of those lower lithium prices now, the result

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Speaker 1: was slightly below expectations. Lithium also announced a new one

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Speaker 1: billion dollar debt facility, which mister Henderson said gave the

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Speaker 1: company flexibility and balance sheet strength. He said lithium was

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Speaker 1: changing hands at a very difficult price point for some producers,

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Speaker 1: which will create a problem for the high cost operation.

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Speaker 1: Philbrig's share price closed up one percent and Story number

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Speaker 1: five Oil or a fine on retail a. Viva Energy

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Speaker 1: reported at a ten percent jump in half here profit,

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Speaker 1: but cut its dividend payout. The group's refinery business, which

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Speaker 1: just a few years ago looked like it could shut down,

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Speaker 1: reported strong revenue growth, which helped offset a week performance

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Speaker 1: from Viva's petrol inconvenience business, and Viva runs the Shell

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Speaker 1: and Liberty petrol stations. Chief executive Scott White said cost

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Speaker 1: of living pressures and the illegal tobacco trade are having

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Speaker 1: an impact on consumer demand within the convenience businesses, just

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Speaker 1: as wages and inflation are driving up the cost of

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Speaker 1: doing business. Viva's share price finished up a little more

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Speaker 1: than half percent today. That's it the Outternoon Report for Monday,

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Speaker 1: the twenty six of August twenty twenty four. Don't forget

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Speaker 1: to tip, follow on the podcast and find Fear and

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Speaker 1: Greed on LinkedIn, Instagram, x TikTok and Facebook. Join Michael

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Speaker 1: Thomas and I Tomorrow I'm waiting for the Fast five

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Speaker 1: by Fear and Greed, the top five business stories you

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Speaker 1: need to know in just five minutes. I'm show Elmer

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Speaker 1: Enjoy reading