1 00:00:03,760 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,400 --> 00:00:09,080 Speaker 1: for Wednesday, the fourteenth of August twenty twenty four. I'm 3 00:00:09,080 --> 00:00:11,960 Speaker 1: suan Elma. Every afternoon, We've got the five stories that 4 00:00:12,039 --> 00:00:13,880 Speaker 1: happened today that you need to know about. Story um 5 00:00:13,920 --> 00:00:16,599 Speaker 1: one common Well Bank mad reporting season today, announcing a 6 00:00:16,680 --> 00:00:20,120 Speaker 1: nine point eight billion dollar profit and upping the final dividend. 7 00:00:20,440 --> 00:00:23,320 Speaker 1: It was a strong set of numbers, with profit margins maintained, 8 00:00:23,440 --> 00:00:26,320 Speaker 1: less money needed for bad loans, and growth in major 9 00:00:26,400 --> 00:00:30,440 Speaker 1: segments of the market, including among households and businesses come off. 10 00:00:30,480 --> 00:00:32,800 Speaker 1: Bank's share price finished up one point three percent today 11 00:00:32,840 --> 00:00:35,879 Speaker 1: as a result. Otherwise, Yes and PA SX two hundred 12 00:00:35,880 --> 00:00:38,880 Speaker 1: closed up zero point three percent to seven eight hundred 13 00:00:38,880 --> 00:00:42,000 Speaker 1: and fifty one points, with healthcare, technology, and real estate 14 00:00:42,040 --> 00:00:45,159 Speaker 1: stocks doing best. Much of the action was around the 15 00:00:45,159 --> 00:00:48,240 Speaker 1: stocks that are reporting, of course. Otherwise Ria rose nearly 16 00:00:48,280 --> 00:00:51,640 Speaker 1: four percent, Goodman Group jump three percent, wise Tech Global 17 00:00:51,880 --> 00:00:55,080 Speaker 1: increased two point six percent, and CSL was up two percent. 18 00:00:55,560 --> 00:00:58,000 Speaker 1: Iron ore prices fell to a four month low, with 19 00:00:58,080 --> 00:01:01,280 Speaker 1: futures dropping to ninety six dollars fifty US a ton 20 00:01:01,400 --> 00:01:04,320 Speaker 1: on the Singapore Exchange. That hit the major miners on 21 00:01:04,360 --> 00:01:08,000 Speaker 1: our market. BHP in Rio fell nearly three percent, while 22 00:01:08,000 --> 00:01:10,360 Speaker 1: four to sqw metals tumbled at four point six percent. 23 00:01:10,360 --> 00:01:14,000 Speaker 1: Today story number two, AGL Energy's share price surged as 24 00:01:14,040 --> 00:01:16,360 Speaker 1: much as five percent after the group's sad Earnings in 25 00:01:16,400 --> 00:01:19,160 Speaker 1: the current financial year are likely to hold up better 26 00:01:19,160 --> 00:01:22,119 Speaker 1: than forecast. Underlying profit at the energy giant went from 27 00:01:22,160 --> 00:01:24,280 Speaker 1: two hundred and eighty one million dollars in the twenty 28 00:01:24,280 --> 00:01:27,520 Speaker 1: twenty three financial year to eight hundred and twelve million 29 00:01:27,880 --> 00:01:31,559 Speaker 1: dollars last year, slightly ahead of expectations. The strong result 30 00:01:31,600 --> 00:01:34,920 Speaker 1: comes after the company has already upgraded guidance twice in 31 00:01:35,000 --> 00:01:38,520 Speaker 1: recent months. AGL also declared a much higher dividend. The 32 00:01:38,600 --> 00:01:41,320 Speaker 1: higher profit was due to improved performance at its power 33 00:01:41,319 --> 00:01:45,160 Speaker 1: stations and higher electricity prices. The company warned that twenty 34 00:01:45,200 --> 00:01:47,920 Speaker 1: twenty four was a boom year and unlikely to be 35 00:01:48,000 --> 00:01:50,320 Speaker 1: repeated in the short term, though the foe the earnings 36 00:01:50,320 --> 00:01:53,520 Speaker 1: won't be as significant as expected. The group also announced 37 00:01:53,520 --> 00:01:56,480 Speaker 1: two hundred and fifty million dollars of battery in solar acquisitions, 38 00:01:56,680 --> 00:02:00,400 Speaker 1: which boosts agl's pipeline for potential projects by eight point 39 00:02:00,440 --> 00:02:04,240 Speaker 1: one giga what's off capacity with the most promising projects 40 00:02:04,280 --> 00:02:07,560 Speaker 1: being in Queensland and New South Wales. Storying number three, 41 00:02:07,640 --> 00:02:11,639 Speaker 1: Promedicus's share price surge nearly ten percent today, even though 42 00:02:11,680 --> 00:02:13,800 Speaker 1: the Medical Image in Group said it's going to be 43 00:02:13,880 --> 00:02:16,760 Speaker 1: tough to keep up its current growth rate. That's because 44 00:02:16,800 --> 00:02:19,720 Speaker 1: it posted a thirty seven percent jump in full year profit. 45 00:02:20,120 --> 00:02:23,519 Speaker 1: Promdicus has been a share market star. Its price is 46 00:02:23,560 --> 00:02:26,080 Speaker 1: more than double over the past year, and with a 47 00:02:26,120 --> 00:02:29,560 Speaker 1: fifteen billion dollar market capitalization, it's a top forty stock, 48 00:02:29,840 --> 00:02:32,639 Speaker 1: bigger than many household names like Quantas, JB hi Fi 49 00:02:32,639 --> 00:02:35,480 Speaker 1: and Treasury. Winer states it basically worked out how to 50 00:02:35,560 --> 00:02:40,760 Speaker 1: stream medical images to workstations and mobile devices, meaning diagnostic 51 00:02:40,800 --> 00:02:44,519 Speaker 1: decisions can be done remotely. It's sort of reinvented radiology. 52 00:02:44,760 --> 00:02:48,240 Speaker 1: Promedicus as Sam Hubert founded the company just over forty 53 00:02:48,320 --> 00:02:50,400 Speaker 1: years ago, and since the beginning of COVID, its share 54 00:02:50,440 --> 00:02:52,920 Speaker 1: price has gone from around twenty bucks to more than 55 00:02:52,960 --> 00:02:55,840 Speaker 1: one hundred and forty dollars today. Mister Herbert said he 56 00:02:55,840 --> 00:02:59,560 Speaker 1: believes a company can maintain its trajectory of strong profitable growth, 57 00:02:59,560 --> 00:03:02,839 Speaker 1: but up these rates might be a bit tough. Straight 58 00:03:02,840 --> 00:03:05,440 Speaker 1: at number four, well, let's keep the profit theme going. 59 00:03:05,639 --> 00:03:08,960 Speaker 1: Bunning's landlord BWP Trust delivered a big jump in profit, 60 00:03:09,000 --> 00:03:12,120 Speaker 1: sending its share price up nearly three percent. Takeover target 61 00:03:12,120 --> 00:03:15,040 Speaker 1: Aurora's share price jumped five percent after the packaging group's 62 00:03:15,120 --> 00:03:18,919 Speaker 1: underlying earnings beat estimates now yesterday or rejected a two 63 00:03:18,919 --> 00:03:21,840 Speaker 1: dollars fifty five a share bid from a USPE group. 64 00:03:22,040 --> 00:03:24,480 Speaker 1: Today it's share price closed at two dollars thirty nine 65 00:03:24,560 --> 00:03:28,560 Speaker 1: a share, and Golden Copper group Evolution Mining's underlying profit 66 00:03:28,639 --> 00:03:31,320 Speaker 1: nearly tripled on higher prices of the precious metal. The 67 00:03:31,360 --> 00:03:35,120 Speaker 1: result bid expectations, and Evolution's share price jumped seven percent. 68 00:03:35,840 --> 00:03:38,880 Speaker 1: Finally stro at number five. Japanese Prime Minister Fumio Kisheda 69 00:03:39,120 --> 00:03:41,920 Speaker 1: today announced he won't seek re election as head of 70 00:03:42,040 --> 00:03:44,680 Speaker 1: his party, meaning the end of his premiership after just 71 00:03:44,800 --> 00:03:48,360 Speaker 1: under three years. The ruling Liberal Democratic Party has governed 72 00:03:48,400 --> 00:03:51,920 Speaker 1: Japan almost uninterrupted since nineteen forty five, and it's due 73 00:03:51,920 --> 00:03:55,160 Speaker 1: to hold an internal leadership contest next month. According to AFP, 74 00:03:55,640 --> 00:03:59,440 Speaker 1: its popularity has slumped because of rising prices, and mister 75 00:03:59,480 --> 00:04:03,440 Speaker 1: Kishida's it's important to show people that illiberal Democratic Party 76 00:04:03,520 --> 00:04:05,720 Speaker 1: is changing, he said, the first step in doing that 77 00:04:05,880 --> 00:04:07,760 Speaker 1: is for him to step aside, the head of the 78 00:04:07,800 --> 00:04:10,720 Speaker 1: ruling party is traditionally also Prime Minister. The sixty seven 79 00:04:10,800 --> 00:04:13,360 Speaker 1: year old mis Stiksheta has been in office since October 80 00:04:13,400 --> 00:04:16,279 Speaker 1: twenty twenty one and has seen his and his party's 81 00:04:16,320 --> 00:04:20,680 Speaker 1: poll ratings slide sharply in response to rising prices hitting 82 00:04:20,800 --> 00:04:24,080 Speaker 1: Japanese incomes. That's it for the afternoon report for Monday, 83 00:04:24,120 --> 00:04:26,720 Speaker 1: the fourteenth of August twenty twenty four. Michael Thompson and 84 00:04:26,760 --> 00:04:29,160 Speaker 1: I will be back tomorrow morning with the Thursday edition 85 00:04:29,240 --> 00:04:32,119 Speaker 1: of Fear and Greed Business News. I'm Sean Elma. Enjoy 86 00:04:32,120 --> 00:04:32,599 Speaker 1: your evening.