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Speaker 1: Welcome to the Fearing Green Business News Afternoon Report for Wednesday,

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Speaker 1: the twenty fourth July twenty twenty four. I'm Sean Alma.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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

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Speaker 1: SMPA six two hundred closed down just to touch today

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Speaker 1: to seven nine hundred and sixty four points. The banks

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Speaker 1: were mixed to ain Z and Commwealth Bank lost ground,

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Speaker 1: while National Australia Bank, Westpac and mcquarie Group all rose.

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Speaker 1: The big miners were flat to slightly hire. Some of

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Speaker 1: the oil reliant companies like Woodside, Mpole, Beaver Energy and

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Speaker 1: Beach Energy lost ground on the back of the recent

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Speaker 1: drop in the price of crude. Property stocks were also lower,

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Speaker 1: with Goodman Group and Stockland both off two percent. Transurban

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Speaker 1: was another poor performer. A couple of the healthcare companies

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Speaker 1: did well, ResMed and Cochlear were both up more than

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Speaker 1: one percent. Story number two. There were quite a few

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Speaker 1: trading updates out today ahead of next month's earning season.

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Speaker 1: Telix Pharmaceuticals fell nearly seven percent after it abandoned plans

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Speaker 1: to list on the NASDAQ, and it raised six hundred

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Speaker 1: and fifty million dollars. Hilbra Minerals shares jumped five percent

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Speaker 1: before finishing up slightly after it recorded a fifty eight

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Speaker 1: percent jump in revenue for the June quarter. Flight Center

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Speaker 1: dropped four and a half percent after it revised its

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Speaker 1: underlying profit for fiscal twenty four. The trouble company said

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Speaker 1: the change excluded four million dollars in losses from the

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Speaker 1: closure of its Discover Central America's destination management business, Perpetual,

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Speaker 1: dropped one percent after its assets under management fell to

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Speaker 1: two hundred and fifteen billion dollars as of June thirty.

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Speaker 1: That's down about twelve billion dollars out of the quarter

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Speaker 1: and Platinum Capital, another fund manager, its share price rose

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Speaker 1: four percent after announcing it was making changes to its

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Speaker 1: Platinum International Fund. Story Number three one reeler tailor doing

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Speaker 1: pretty well at the moment is Repco, which is US owned.

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Speaker 1: The automotive Parts group is growing just as major competitors

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Speaker 1: are fighting off takeover attempts. Repco is owned by New

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Speaker 1: York listed Genuine Parts Company, which reported that its Australasian

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Speaker 1: Automotive Paths operation had generated same store sales growth of

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Speaker 1: two point three percent in the June quarter. Now Repco

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Speaker 1: has nearly five hundred stores in Australasia. Backcore is the

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Speaker 1: other major player. It runs Autobarn, Auto Pro, Berson and Midas.

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Speaker 1: It has about eleven hundred outlets selling car parts to

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Speaker 1: mechanics and motoring fans. Its same store sales growth is

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Speaker 1: forecast to come in at less than one percent according

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Speaker 1: to report the Financial Review. Babcor officially rejected a five

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Speaker 1: dollars forty share offer from Bain on July nine, saying

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Speaker 1: it didn't represent fair value. It closed today at five

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Speaker 1: dollars eighteen, still below that, and it looks like Repco

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Speaker 1: is doing better. Story number four. The number of Kiwis

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Speaker 1: living in Australia has hit seven hundred thousand for the

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Speaker 1: first time thanks to rule changes which helped New Zealand

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Speaker 1: citizens gain residency here. There were thirty five thousand new

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Speaker 1: kiwis flowing into Australia in the eleven months to the

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Speaker 1: end of May, according to the Bureau of Statistics. Before

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Speaker 1: the pandemic, on average was about ten thousand. Australia's economy,

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Speaker 1: particularly the labor market, is longer than New Zealand's, while

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Speaker 1: since January, anyone granted an independent skill the visa can

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Speaker 1: immediately apply for Australian residency, according to report in the

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Speaker 1: finn Review. Previously they had to wait for twelve months.

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Speaker 1: More than four and five kiwigs who head overseas traveled

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Speaker 1: to Australia and story number five. Karmala Harris has quickly

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Speaker 1: emerged as a force to be reckoned with, even before

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Speaker 1: officially becoming the nominee for the Democrats. In her first

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Speaker 1: rally as leading candidate for the party, she said the

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Speaker 1: November election will be and I quote, a choice between

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Speaker 1: freedom and chaos. Miss Harris raised one hundred and fifty

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Speaker 1: million Aussie dollars from donors in the first three days,

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Speaker 1: and a routez Ipsos poll overnight suggested she was two

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Speaker 1: percentage points ahead of Donald Trump. No doubt help by

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Speaker 1: the initial enthusiasm from widespread media coverage, Miss Harris is

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Speaker 1: already traveling through important working class states like Wisconsin, Michigan

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Speaker 1: and Pennsylvania. She needs to win those in the November

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Speaker 1: poll if she hopes to be president. That's it for

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Speaker 1: Afternoon report for Wednesday, the twenty fourth July twenty twenty four.

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Speaker 1: Michael Thomas and I will be back tomorrow morning with

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Speaker 1: the Thursday edition of Fear and Great Business News. I'm

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Speaker 1: Sean Elma and Joey Evening