Travel shares are trading higher today after a border announcement by New South Wales Premier Gladys Berejiklian. The premier declared NSW would reopen its border to Victorians on Monday 23 November.
She also called on other Australian states to reopen their borders to NSW.
“If NSW has the guts to open our borders to Victoria, you should have the guts to open your borders to us. It is in our national interest. It is in the interest of all our citizens,” she said.
The decision means that Victorians wishing to travel to NSW after 23 November will no longer have to get government permission or quarantine for 14 days.
Prior to this announcement, NSW was open to all Australian states except Victoria. This latest border relaxation will make NSW the only state in the country to have open borders with every other state.
Which shares are trading higher?
After the announcement, share prices in travel-related companies have climbed.
At the time of writing, Qantas Airways Limited (ASX: QAN) rose by 3.24% to $4.62, while Sydney Airport Holdings Pty Ltd (ASX: SYD) climbed by 3.1% to $5.98.
Also flying higher are Flight Centre Travel Group Ltd (ASX: FLT), which soared up by 6.81% to $13.02, and Corporate Travel Management Ltd (ASX: CTD) rose 3.23% to $15.97.
Forget what just happened. We think this stock could be Australia’s next MONSTER IPO…
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- 3 ASX shares rated as buys by brokers
- Zip and Credit Clear were among the most traded shares on the ASX last week
- How Sydney’s new road could pressure the oOh!Media (ASX:OML) share price
- These are the 10 most shorted shares on the ASX
- ASX 200 Weekly Wrap: ASX 200 has another shocker as US election approaches
Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Travel shares are flying higher today. Here’s why. appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/362N58p
Leave a Reply