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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Tuesday, the twentieth of August twenty twenty four. I'm

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Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that

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

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Speaker 1: The SMPA six two hundred finished up zero point two

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Speaker 1: percent today to seven thousand, nine hundred and ninety eight points,

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Speaker 1: having earlier in the day pushed through that eight thousand

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Speaker 1: point barrier. Broadly, the techtocs did well and the real

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Speaker 1: estate companies did poorly, though most of the big moves

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Speaker 1: were earnings related wise. Tech Global BHP and four to

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Speaker 1: s QW Metals were among the best performers of the

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Speaker 1: large caps, while Goodman Group an Aristocrat Leisure were laggards.

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Speaker 1: The big banks were mixed, so to the big retailer's

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Speaker 1: worth mentioned tech company Appen, It told the stock exchange

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Speaker 1: today that it has no explanation for its share jumping

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Speaker 1: fifty percent in the past few sessions. Appen closed eight

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Speaker 1: percent higher today, meaning it's up fifty percent over the

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Speaker 1: last five sessions and one hundred and sixty percent since

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Speaker 1: late last month. Story number two. The share of Australian's

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Speaker 1: role to vote has reached a near record, with pre

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Speaker 1: election enrollment now at its highest level of all time.

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Speaker 1: Official figures released by the Australian Electoral Commission show ninety

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Speaker 1: seven point nine percent of all eligible Australians are enrolled

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Speaker 1: to vote at least they were at the end of June.

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Speaker 1: That figure is higher than the proportion leading into the

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Speaker 1: previous federal election in twenty twenty two that was ninety

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Speaker 1: six point two percent. An estimated ninety two point nine

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Speaker 1: percent of Indigenous Australians are in rolled to vote, significantly

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Speaker 1: higher than the seventy nine point three percent leading into

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Speaker 1: the last federal election. Story number three. Property investor, developer

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Speaker 1: and fund manager Dexas posts a one point five to

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Speaker 1: eight billion dollar loss for the last financial year, deepening

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Speaker 1: the previous year's loss after recording huge devaluations across its portfolio.

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Speaker 1: In twenty twenty three, the loss was seven hundred and

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Speaker 1: fifty three million dollars, and the significant worsening reflects higher

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Speaker 1: interstrates triggering a reduction in the future value of properties.

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Speaker 1: The result sent Dexas' share price down nine percent today

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Speaker 1: If you exclude the change in valuations. Dexas' funds from

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Speaker 1: operations was five hundred and sixteen million dollars. That's a plus,

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Speaker 1: in line with guidance. The groom warned that next year's

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Speaker 1: earnings would also be disappointing. Like many other property groups,

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Speaker 1: Dexas has been transforming, trying to diversify its asset base,

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Speaker 1: pushing to student housing, healthcare and infrastructure. It's also boosted

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Speaker 1: its funds management business, with co investment with partners a

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Speaker 1: key strategy. For example, Dexis is co investing with Lasian

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Speaker 1: for the technology group's new headquarters in Sydney. Story number four.

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Speaker 1: Medical glove and protective surgical suits maker Antsel COVID nineteen

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Speaker 1: favorite among investors, has cut almost ten percent of its

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Speaker 1: global workforce as many of its factories step up the

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Speaker 1: use of automation. Chief executive Neil Salmon said there had

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Speaker 1: been some cuts from each one of its fourteen factories,

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Speaker 1: and there was more cost cutting to come beyond the

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Speaker 1: thirteen hundred and thirty people who have already been made redundant.

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Speaker 1: The reductions are ninety percent complete, mister Salmon told the

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Speaker 1: Australian Financial Review. Shares an Ansel climbed at nine percent today,

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Speaker 1: though it's more than twenty five percent below its peak

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Speaker 1: of the pandemic. Mister Salmon also outlined that a glut

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Speaker 1: of medical gloves and other ppe that occurred in the

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Speaker 1: COVID nineteen pandemic had all been whittled away except in

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Speaker 1: small pockets of the market. Mister Salmon said the job shedding,

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Speaker 1: in part was a result for the company playing catch

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Speaker 1: up and bringing more automation and robotics into its factory,

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Speaker 1: and story number five an interesting one. Coal money. Yan

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Speaker 1: Cole is cashed up and ready to buy assets such

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Speaker 1: as Anglo Americans, Queensland cold mines. Now. The group made

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Speaker 1: a half year profit of four hundred and twenty million

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Speaker 1: dollars and announced that today, but rather than pay out

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Speaker 1: a dividend as per usual, the board decided to hold

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Speaker 1: onto the money, lifting the group's cash balance to one

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Speaker 1: point five to five billion dollars with no debt. The

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Speaker 1: board made it clear it is looking for high quality

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Speaker 1: acquisition opportunities and alongside the lack of dividend, is the

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Speaker 1: main reason the yan Call's share price tumbel fifteen percent today.

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Speaker 1: En Cole's constitution says that fifty percent of net profit

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Speaker 1: must be returned to shareholders as dividends every year, but

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Speaker 1: the directors have the right to rescind the dividend if

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Speaker 1: they feel the company's financial position no longer justifies it

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Speaker 1: and Cold Chief executive David Molt has previously said he

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Speaker 1: wants to buy assets, particularly high quality cocin coal mines

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Speaker 1: for steel making in Queensland. That's it. If the Afternoon

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Speaker 1: Report for Tuesday, the twentieth of August twenty twenty four,

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Speaker 1: don't forget hit follow on the podcast and find Fear

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

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Speaker 1: Michael Thompson and I Tomorrow I'm morning for the Fast

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

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

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Speaker 1: Enjoy reading