1 00:00:03,480 --> 00:00:06,000 Speaker 1: Welcome to the Fear and Greed Afternoon Report for Friday, 2 00:00:06,040 --> 00:00:09,160 Speaker 1: the seventh of November twenty twenty five. I'm Adam Lang 3 00:00:09,240 --> 00:00:11,360 Speaker 1: and here are the five business stories you need to 4 00:00:11,400 --> 00:00:13,880 Speaker 1: know for the day. Story number one, the S and 5 00:00:13,920 --> 00:00:16,840 Speaker 1: p ASX two hundred fell fifty nine points or zero 6 00:00:16,840 --> 00:00:19,800 Speaker 1: point seven percent, to eighty seven hundred and seventy points. 7 00:00:19,800 --> 00:00:23,239 Speaker 1: That's its lowest close in six weeks. The index is 8 00:00:23,239 --> 00:00:25,200 Speaker 1: down one point three percent for the week and three 9 00:00:25,239 --> 00:00:28,680 Speaker 1: point eight percent below it's fifty two week high after 10 00:00:28,720 --> 00:00:32,240 Speaker 1: the Reserve Bank held rates steady on Melbourne Cup Tuesday. 11 00:00:32,800 --> 00:00:36,280 Speaker 1: For today, the technology, financial and consumer sectors led the 12 00:00:36,320 --> 00:00:40,600 Speaker 1: declines after Wall Street's slid overnight. Macquarie dropped nearly six 13 00:00:40,640 --> 00:00:44,720 Speaker 1: percent after missing profit expectations by around ten percent. The 14 00:00:44,800 --> 00:00:47,080 Speaker 1: rest of the banks were mixed, with Commonwealth Bank down 15 00:00:47,120 --> 00:00:50,160 Speaker 1: two percent, West Back down to A and Z down 16 00:00:50,200 --> 00:00:54,160 Speaker 1: one and NAB up one percent. Quantus fell seven percent 17 00:00:54,280 --> 00:00:58,360 Speaker 1: on weaker domestic growth guidance. Computer share sank four percent, 18 00:00:58,440 --> 00:01:01,280 Speaker 1: gold miners held firm u Mond rows two percent, and 19 00:01:01,400 --> 00:01:05,600 Speaker 1: Evolution Mining gained one percent. Block and Zip slumped after 20 00:01:05,600 --> 00:01:08,880 Speaker 1: week US fintech results, leaving the tech sector the day's 21 00:01:08,880 --> 00:01:12,560 Speaker 1: worst performer, Gold is trading near US four thousand dollars 22 00:01:12,600 --> 00:01:15,039 Speaker 1: an ounce, Sprint cruders around sixty dollars a barrel, and 23 00:01:15,080 --> 00:01:17,640 Speaker 1: the Australian dollar is buying around sixty five US cents 24 00:01:18,800 --> 00:01:22,000 Speaker 1: Story number two. There were mixed results in corporate earnings 25 00:01:22,000 --> 00:01:26,319 Speaker 1: reports today. In corporate reporting, Area Group reported that September 26 00:01:26,360 --> 00:01:29,039 Speaker 1: quarter revenue of four hundred and twenty nine million, which 27 00:01:29,080 --> 00:01:33,520 Speaker 1: was up four percent, with EBADA that's earnings before interest, interest, tax, 28 00:01:33,560 --> 00:01:38,280 Speaker 1: appreciation and amortization was up five percent. Alliance Aviation resumed 29 00:01:38,319 --> 00:01:42,040 Speaker 1: trading and fell sharply after forecasting its f y twenty 30 00:01:42,080 --> 00:01:46,640 Speaker 1: six earnings were well below expectations. Quantus said first half 31 00:01:46,680 --> 00:01:49,280 Speaker 1: domestic revenue growth will be near the low end of 32 00:01:49,320 --> 00:01:53,960 Speaker 1: guidance and appointed Allison Watkins to its board. Quantus has 33 00:01:54,000 --> 00:01:56,720 Speaker 1: had a pretty interesting twenty four hours last night in Melbourne. 34 00:01:56,720 --> 00:01:59,360 Speaker 1: A powerbank exploded in a passenger's pocket in the Quantus 35 00:01:59,440 --> 00:02:04,080 Speaker 1: Airways in International Business Lounge just after eleven pm on Thursday, 36 00:02:04,400 --> 00:02:07,520 Speaker 1: forcing about one hundred and fifty guests to evacuate. The 37 00:02:07,560 --> 00:02:10,000 Speaker 1: man suffered burns to his legs and fingers and is 38 00:02:10,320 --> 00:02:14,360 Speaker 1: luckily in a stable condition. James Hardy rebounded after index 39 00:02:14,400 --> 00:02:17,440 Speaker 1: related selling earlier in the week. Light and Wonder announced 40 00:02:17,480 --> 00:02:21,000 Speaker 1: an ASX share buyback, and ZIP secured new US funding 41 00:02:21,240 --> 00:02:24,640 Speaker 1: that is expected to improve its margins. Beach Energy announced 42 00:02:24,680 --> 00:02:28,280 Speaker 1: that long delayed Weightsier Stage two gas project is now 43 00:02:28,360 --> 00:02:32,160 Speaker 1: ready to commence production. Story number three a bit more 44 00:02:32,160 --> 00:02:35,160 Speaker 1: on that Macquarie result. McCoy group's first half profit rose 45 00:02:35,200 --> 00:02:38,560 Speaker 1: three percent to one point seven billion, but missed analyst 46 00:02:38,680 --> 00:02:41,960 Speaker 1: forecasts by more than ten percent. Both operating income and 47 00:02:42,040 --> 00:02:46,320 Speaker 1: costs were higher. McQuary's Commodities and Global Markets division's contribution 48 00:02:46,440 --> 00:02:49,640 Speaker 1: slid fifteen percent in the first half. There was also 49 00:02:49,720 --> 00:02:52,640 Speaker 1: a write down of offshore wind assets, particularly in the 50 00:02:52,720 --> 00:02:57,520 Speaker 1: United States. Essentially, McQuary has achieved some notable investment wins, 51 00:02:57,560 --> 00:03:00,600 Speaker 1: including last month's announcement that it would sell a center 52 00:03:00,639 --> 00:03:03,240 Speaker 1: business in the US as part of a consortium for 53 00:03:03,440 --> 00:03:08,160 Speaker 1: US forty billion dollars. However, it has incurred some compliance losses, 54 00:03:08,440 --> 00:03:11,880 Speaker 1: with the corporate regulators suing the group over alleged misreporting 55 00:03:11,880 --> 00:03:15,240 Speaker 1: of trading activities. Net operating income clients six percent to 56 00:03:15,240 --> 00:03:18,040 Speaker 1: eight point seven billion, while expenses row five percent. The 57 00:03:18,040 --> 00:03:21,600 Speaker 1: commodity's business was weaker, partially offset by stronger performance in 58 00:03:21,639 --> 00:03:25,320 Speaker 1: its asset management. The interim dividend was at two dollars 59 00:03:25,400 --> 00:03:27,799 Speaker 1: eighty per share, partly frankedon that's up for two dollars 60 00:03:27,840 --> 00:03:31,320 Speaker 1: sixty last year. UBS said the result fell short of 61 00:03:31,360 --> 00:03:35,400 Speaker 1: consensus and expects investors will look for a stronger second half, 62 00:03:35,640 --> 00:03:38,320 Speaker 1: putting some pressure on the company. Shares fell by about 63 00:03:38,320 --> 00:03:41,160 Speaker 1: seven percent during the day, and that's the sharpest slide 64 00:03:41,160 --> 00:03:44,680 Speaker 1: since April, as the market priced in that slower earnings trajectory. 65 00:03:45,760 --> 00:03:49,600 Speaker 1: Story Number four. Media often leads broader trading conditions, and 66 00:03:49,680 --> 00:03:53,960 Speaker 1: this week's numbers pointed to advertisers staying cautious while subscription 67 00:03:54,080 --> 00:03:57,840 Speaker 1: and data assets held up. News Corp beat on revenue 68 00:03:57,840 --> 00:04:01,080 Speaker 1: and profit, driven by its down by Stow Jones and 69 00:04:01,160 --> 00:04:06,320 Speaker 1: digital real estate, offsetting softness in advertising exposed businesses. Nine 70 00:04:06,440 --> 00:04:10,560 Speaker 1: reported strong digital subscription growth and confirmed cost cuts of 71 00:04:10,600 --> 00:04:12,640 Speaker 1: more than one hundred million dollars over two years to 72 00:04:12,640 --> 00:04:15,880 Speaker 1: protect margins. At its annual general meeting today, where Peter 73 00:04:16,000 --> 00:04:20,159 Speaker 1: Tanner replaced Catherine West as chair, Nine reported that digital 74 00:04:20,160 --> 00:04:23,400 Speaker 1: subscription revenue was in the mid teens for the first quarter. 75 00:04:24,360 --> 00:04:26,560 Speaker 1: Sorry that's digital revenue growth was in the mid teams 76 00:04:26,560 --> 00:04:29,599 Speaker 1: for the first quarter. Oh media weren't warned on softer 77 00:04:29,760 --> 00:04:33,080 Speaker 1: trading patch and the loss of a large New Zealand contract, 78 00:04:33,360 --> 00:04:36,760 Speaker 1: underscoring patchy outdoor demand that it is seeing, and the 79 00:04:36,800 --> 00:04:41,520 Speaker 1: summary overall suggests that brands are prioritizing performance and first 80 00:04:41,600 --> 00:04:48,080 Speaker 1: party data while deferring some discretionary branding campaigns. Story number five, 81 00:04:48,320 --> 00:04:53,960 Speaker 1: Tesla's shareholders approved Elon Musk's record pay package, structured around 82 00:04:54,120 --> 00:04:58,320 Speaker 1: multi year performance hurdles in market value, autonomy, and robotics. 83 00:04:58,680 --> 00:05:02,680 Speaker 1: The campaign guarded high profile support, including that of Kathywood, 84 00:05:02,920 --> 00:05:07,719 Speaker 1: reflecting investor confidence in Tesla's AI and energy ambitions. A 85 00:05:07,800 --> 00:05:12,240 Speaker 1: separate push for investments in XAI drew mixed views, highlighting 86 00:05:12,279 --> 00:05:16,120 Speaker 1: concerns about overlaps and governance at the company. The approval 87 00:05:16,120 --> 00:05:21,559 Speaker 1: strengthens Musk's influential regime, but it does reignite questions about 88 00:05:21,720 --> 00:05:25,360 Speaker 1: power concentration and board oversight at a company that is 89 00:05:25,440 --> 00:05:29,279 Speaker 1: so closely tied to a single leader. Tesla's chair is 90 00:05:29,279 --> 00:05:32,680 Speaker 1: Australian Robin Denholm, who led the board's engagement with investors 91 00:05:32,720 --> 00:05:35,320 Speaker 1: ahead of the vote. That's it for the Fear and 92 00:05:35,320 --> 00:05:38,000 Speaker 1: Greed Afternoon report for Friday, the seventh of November twenty 93 00:05:38,040 --> 00:05:40,719 Speaker 1: twenty five. Follow the podcast and sign up for our 94 00:05:40,800 --> 00:05:44,160 Speaker 1: daily newsletter at Fearangreed dot com dot au. Join us 95 00:05:44,160 --> 00:05:46,719 Speaker 1: tomorrow for the weekend edition, where we wrap up the 96 00:05:46,760 --> 00:05:49,680 Speaker 1: stories of the week. I'm Adam lang. Enjoy your evening 97 00:05:49,800 --> 00:05:51,200 Speaker 1: and please have a great weekend.