FEAR & GREED | Business News Afternoon Report | Westpac surges, market hits high
Aug 14, 2025
Westpac's impressive surge is stealing headlines, highlighting its strong profit performance amidst a dynamic market landscape. Meanwhile, robust job numbers hint at potential changes in interest rates. Ampol's ambitious $1 billion acquisition adds excitement to the corporate scene, while the passing of film critic David Stratton reminds listeners of his impactful legacy. Join in for a quick dive into today's essential business happenings!
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Local Market Momentum Builds
- The ASX 200 hit a fourth consecutive intraday record, closing 0.5% higher at 8,874 points.
- Westpac led gains after a 14% quarterly profit rise, pushing its shares to a decade high.
Jobs Data Shifts RBA Timing
- Strong July labour figures weaken the near-term case for consecutive RBA rate cuts.
- The unemployment rate fell to 4.2% with 24,000 jobs added, shifting market expectations toward cuts in November or December.
Ampol Doubles Down On Retail Fuel
- Ampol will buy EG Group's 540 petrol stations for about $1 billion, reinforcing its retail footprint.
- The deal deepens Ampol's vertical integration as a refiner, importer and distributor amid an EV transition.