Disappointing airline results on Wall St overnight from American Airlines and United Airlines caused investor confidence to slide in Australia today. Australian investors may be anticipating local travel companies to report pandemic-impacted capacity declines in upcoming results which led to a sell-off in Australian travel shares today. Flight Centre lost 3%, Qantas fell 2% and Webjet shed 6% today.
The ASX see-sawed throughout Friday?s session before closing the day just 2.8 points lower as the market was weighed down by a sharp sell-off in Utilities and communication services shares. For the week, the ASX has gained 2.81%.
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