ASX Large Caps: Travel stocks soar as Australia opens its borders
Travel stocks lead the ASX today. Picture Getty
The ASX 200 battled through morning losses and rebounded in the afternoon session to end the day slightly down by 0.13%.
Travel stocks soared after PM Scott Morrison announced the reopening of Australia’s international borders on 21 February to fully vaccinated tourists.
“I know the tourism industry will be looking forward to that, and over the next two weeks they’ll get the opportunity both for visitors to be coming and for them to be gearing up to welcome international visitors back to Australia,” PM Morrison told reporters in Canberra today.
The ASX 200 Energy index continued to push higher amid the upward pressure on oil prices.
The Energy sector led the ASX and climbed 2% as Brent pushed past $US92.50 a barrel overnight. Oil stocks rose with Woodside Petroleum (ASX:WPL) jumping by more than 3%.
Meanwhile, bank stocks were under pressure today as ANZ Bank (ASX:ANZ) released its Q1 FY22 update, reporting an 8 basis point drop in group net interest margin which was worse than consensus.
Embattled fund manager Magellan Financial (ASX:MFG) also pushed the Financial sector lower after it fell by more than 10% as CEO and founder Hamish Douglass announced a leave of absence.
BIG CAP WINNERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| GNC | GrainCorp Limited | 8.1 | 12.3% | 3,130,296 | $1,650,049,078 |
| FLT | Flight Centre Travel | 19.02 | 8.3% | 3,762,348 | $3,507,107,289 |
| ABR | American Pacific | 2.58 | 7.5% | 850,061 | $1,002,444,629 |
| CTD | Corp Travel Limited | 22.12 | 7.5% | 451,210 | $2,914,523,301 |
| SWM | Seven West Media Ltd | 0.73 | 7.4% | 9,921,808 | $1,081,280,403 |
| CRN | Coronado Global Res | 1.49 | 7.2% | 3,321,302 | $2,330,270,685 |
| GQG | GQG Partners | 1.735 | 6.4% | 3,808,545 | $4,813,072,857 |
| WEB | Webjet Limited | 5.52 | 6.4% | 3,560,817 | $1,974,845,961 |
| ELD | Elders Limited | 11.71 | 5.1% | 989,925 | $1,743,149,034 |
| QAN | Qantas Airways | 5.45 | 5.0% | 19,631,334 | $9,788,571,983 |
| ERA | Energy Resources | 0.315 | 5.0% | 66,266 | $1,107,414,959 |
| YAL | Yancoal Aust Ltd | 2.95 | 5.0% | 220,210 | $3,710,434,818 |
| ILU | Iluka Resources | 10.9 | 4.8% | 2,968,377 | $4,401,304,357 |
| IEL | Idp Education Ltd | 30.83 | 4.7% | 762,807 | $8,199,784,776 |
| CCX | City Chic Collective | 5.41 | 4.6% | 497,659 | $1,199,026,845 |
| ABC | Adbri Limited | 3.02 | 3.8% | 1,219,463 | $1,899,146,185 |
| EML | EML Payments Ltd | 3.05 | 3.7% | 1,080,139 | $1,097,924,607 |
| CUV | Clinuvel Pharmaceut. | 23.5 | 3.7% | 71,482 | $1,119,638,259 |
Graincorp (ASX:GNC) rallied more than 11% after a bumper crop season led the company to announce an upbeat FY22 guidance today. The company is now forecasting EBITDA to come in between in the range of $480m to $540m for the full year, with NPAT of between $235m and $280m.
Flight Centre (ASX:FLT) and Corporate Travel (ASX:CTD) zoomed 7% after the reopening announcement by the government.
BIG CAP LOSERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MFG | Magellan Fin Grp Ltd | 16.51 | -10.8% | $5,638,551 | $3,437,547,704 |
| NCK | Nick Scali Limited | 13.91 | -6.4% | $714,414 | $1,203,660,000 |
| BRN | Brainchip Ltd | 1.645 | -5.2% | $22,147,649 | $2,974,418,320 |
| APX | Appen Limited | 8.97 | -5.2% | $1,004,532 | $1,164,288,705 |
| URW | Unibailrodawestfield | 5.07 | -4.9% | $568,016 | $1,046,295,310 |
| INR | Ioneer Ltd | 0.64 | -4.5% | $5,459,230 | $1,373,867,427 |
| JHG | Janus Henderson | 50.11 | -3.6% | $121,876 | $1,276,479,202 |
| VUK | Virgin Money Uk PLC | 3.7 | -3.4% | $1,347,152 | $3,319,431,831 |
| MAQ | Macquarie Telecom Gp | 62.19 | -3.2% | $3,724 | $1,381,415,020 |
| JDO | Judo Cap Holdings | 1.995 | -3.2% | $762,999 | $2,277,343,128 |
| FCL | Fineos Corp Hold PLC | 3.44 | -3.1% | $16,496 | $1,132,211,305 |
| PNI | Pinnacle Investment | 11 | -2.7% | $654,187 | $2,256,153,420 |
| REA | REA Group | 139.57 | -2.7% | $278,248 | $18,952,214,779 |
| PTM | Platinum Asset | 2.57 | -2.7% | $2,401,498 | $1,548,832,296 |
| NWS | News Corp.. | 32.5 | -2.6% | $199,882 | $1,489,014,639 |
| TPW | Temple & Webster Ltd | 8.14 | -2.6% | $425,788 | $1,006,986,478 |
| CHC | Charter Hall Group | 16.29 | -2.6% | $1,079,010 | $7,913,243,139 |
Embattled fund manager Magellan Financial said it’s lost $2bn in funds under management in January. The company also announced that CEO and chairman Hamish Douglass will take a medical leave of absence. Co-founder Chris McKay will take over the helm in his absence.
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