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Speaker 1: Wednesday, the nineteenth, February twenty twenty five. I'm suan 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 storing. Number one, the

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Speaker 1: S and p ASX two hundred finished down zero point

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Speaker 1: seven percent to eighty four hundred and nineteen points. It's

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Speaker 1: all about profits at the moment. In terms of sectors today,

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Speaker 1: energy and financials did worstwhile utilities and telco's did best.

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Speaker 1: In corporate news, James Hardy's shares rose three percent after

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Speaker 1: earnings came in slightly ahead of consensus despite at a

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Speaker 1: client in Quarterly profit profit was down nine percent owing

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Speaker 1: to drop in volumes in a very tough market, particularly

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Speaker 1: in the US. Santos pasted a fourteen percent drop in

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Speaker 1: full year profit and lower oil and gas prices, but

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Speaker 1: has reassured the market about the on time startup of

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Speaker 1: key new production projects here and in North America. Net

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Speaker 1: profit fell to one point two two billion US dollars

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Speaker 1: that's pretty close to two billion OSSIE in the year

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Speaker 1: ending December thirty one. Santos also declared a lower final

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Speaker 1: dividend and share price fell for and a half percent. Sorry.

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Speaker 1: Number two, there were a bunch of smaller companies reporting

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Speaker 1: Corporate Travel Management jump ten percent despite the company's first

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Speaker 1: half profit dropping by a third owing to issues with

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Speaker 1: its European divisions travel booking and accommodation business. The Lottery

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Speaker 1: Corporation jumped three percent after the company retained its dividend

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Speaker 1: and said performance had been resilient despite falling earnings and revenue,

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Speaker 1: and Australia's largest waste management group, clean Away, dropped one

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Speaker 1: percent after the company's cash position missed expectations a straight

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Speaker 1: number three. The biggest market mover today was Mineral Resources.

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Speaker 1: It had a shocker, with its share price tumbling twenty

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Speaker 1: one percent after it said it needs an additional three

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Speaker 1: hundred million dollars to upgrade the road to its new

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Speaker 1: Onslow iron ore project in Western Australia. Now, Onslow is

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Speaker 1: a great hope for mineral resources, but it's costing a

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Speaker 1: lot of money. The road in question has been the

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Speaker 1: site of five truck crashes since August. Now we're talking

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Speaker 1: about triple trailer road trains carrying three hundred and thirty

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Speaker 1: tons of iron or along the one hundred and forty

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Speaker 1: seven kilometer piece of tar. Five crashes it's quite a bit.

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Speaker 1: The company lost eight hundred million dollars for the six

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Speaker 1: months to the end of December and cut its interim dividend.

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Speaker 1: Falling commodity prices, trenchial weather, and uncertainty over its leadership

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Speaker 1: has really hit that group. Story number four. Wages growth

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Speaker 1: has weakened to its slowest pace since the middle of

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Speaker 1: twenty twenty two, providing support for the Reserve Bank's decision

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Speaker 1: to cut interest rates on Tuesday, although wager urners might

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Speaker 1: not be quite as heavy. For the December quarter, wages

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Speaker 1: grew by zero point six five percent three point two

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Speaker 1: percent for the year. That's actually underneath the Reserve Bank's

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Speaker 1: forecast if you include bonuses stuff like that, wages for

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Speaker 1: up three point four percent. They've decreased quickly since their peak.

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Speaker 1: Maybe the employment market just isn't quite so red hot.

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Speaker 1: The decision on Tuesday to cut rates by the Reserve

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Speaker 1: Bank included commentary about the Central Bank being worried about

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Speaker 1: way growth pushing up inflation. The figures yesterday suggest that's

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Speaker 1: not a major concern. Tomorrow will find out January's unemployment

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Speaker 1: right and storying number five. President Donald Trump said he's

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Speaker 1: likely to impose taris on cars, semiconducted chips, and pharmaceutical

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Speaker 1: imports of about twenty five percent, an announcement coming as

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Speaker 1: soon as early April. The new duties, if implemented, would

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Speaker 1: widen the president's trade war. Mister Trump previously announced twenty

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Speaker 1: five per cent tariffs on steel and aluminium that are

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Speaker 1: set to take effect in March, but the new comments

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Speaker 1: are his most detailed yet in specifying other sectors that

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Speaker 1: could be hit with these protectionist barriers. Australia sells pharmaceutical

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Speaker 1: drugs into the US, they would certainly be effected. That's

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Speaker 1: it the Afternoon Report for Wednesday, the nineteenth of February

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Speaker 1: twenty twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with a Thursday edition of

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Speaker 1: the past five business Years by Fear and Greed. I'm

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Speaker 1: Sean elmak Enjoy your evening.