The Qantas Airways Limited (ASX: QAN) share price is gaining this morning, despite no news having been released by the company.
However, the ASX 200 travel giant isn’t alone in the green. Many of its peers are also seeing gains this morning amid news Victoria and South Australia are preparing to end their lockdowns.
Right now, the Qantas share price is $4.72, 2.61% higher than its previous close.
That’s particularly impressive when compared to the broader market.
Currently, the S&P/ASX 200 Index (ASX: XJO) is up 0.39%, while the All Ordinaries Index (ASX: XAO) is gaining 0.37%.
Let’s take a closer look at the Qantas share price’s moves today.
Lockdowns ending, ASX 200 travel shares up
While Sydney is still in the midst of a battle against COVID-19’s delta strain, Victoria and South Australia are set to gain a semblance of normality from midnight tonight.
Whether the good news for the 2 southern states is reflecting in the Qantas share price isn’t clear.
However, Qantas isn’t alone in having a good day on the ASX. The airline’s ASX 200 travel peers are also being boosted higher.
The Webjet Limited (ASX: WEB) share price is currently up 2.07%, while shares in Flight Centre Travel Group Ltd (ASX: FLT) are 1.73% higher.
Unsurprisingly, the Sydney Airport Holdings Pty Ltd (ASX: SYD) share price isn’t taking part in today’s sea of green. It’s down 0.38% at the time of writing.
Qantas share price snapshot
Despite today’s gains, the Qantas share price isn’t out of the red yet.
Right now, shares in Qantas are trading for 3.4% less than they were at the start of 2021. However, they are going for 28.8% more than they were this time last year.
The airline has a market capitalisation of around $8.6 billion, with approximately 1.8 billion shares outstanding.
The post The Qantas (ASX:QAN) share price gained 3% on Tuesday morning appeared first on The Motley Fool Australia.
Should you invest $1,000 in Qantas right now?
Before you consider Qantas, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
More reading
- Plumbing, health, tech: 3 ASX shares to buy for instant diversification
- Webjet (ASX:WEB) share price weakens as COVID cases continue
- Why a2 Milk, Cann, Flight Centre, & GPT shares are tumbling lower
- Flight Centre (ASX:FLT) share price slides amid news Sydney lockdown could last until September
- These are the 10 most shorted ASX shares
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/376mRTD
Leave a Reply