FEAR & GREED | Business News Afternoon Report | Nvidia smashes expectations
Aug 28, 2025
The Australian stock market sees modest gains, largely driven by the banking sector as Eagers Automotive thrives on booming EV sales. Meanwhile, mining stocks take a hit. Controversy brews as federal MP Bob Catter demands an apology after a press conference, and the Iranian ambassador is expelled amid rising tensions. In tech news, NVIDIA manages to exceed revenue expectations, yet its quarterly sales fall short, leaving analysts buzzing.
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Banks Lift ASX While Miners Slip
- The S&P/ASX 200 rose 0.2% led by strong bank earnings while miners fell.
- Qantas, NAB and CBA drove gains despite mixed sector results like Mineral Resources' loss.
Chinese EVs Power Dealership Profits
- Eagers Automotive reported better-than-expected half profit helped by booming Chinese EV sales.
- BYD sales more than doubled and Eagers sold ~80% of new BYD cars in Australia.
Heated Exchange Between MP And Reporter
- Nine News demanded a public apology after Bob Katter angrily cut off a reporter and called him racist.
- The reporter said in nearly 20 years he had never seen such a reaction from an elected official.