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Travel stocks soared on the Federal Government tourism stimulus: ASX closed flat

11 March 2021 – It has been a mixed day for the ASX. After lifting at the open, the market retreated then rose into positive territory after lunch and lost its early gains on the back of Australia’s Health Secretary Brendan Murphy advising that the target of Australians receiving their second dose of the Covid-19 vaccine by the end of October is likely to be missed. As for the sectors, we saw improvements in the Consumer Discretionary and Industrial sector with travel stocks leading the way with Flight Centre (ASX:FLT) soaring 9.2%, Corporate Travel (ASX:CTD) rising 4.3% and Webjet (ASX:WEB) gaining 3.75% after the Federal Government launched a $1.2 billion tourism support package. Information Technology sector was the worst performing sector with Afterpay (ASX:APT) dropping 3.7%.

Source: Finance News Network

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