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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a big decline. In afternoon trade, the benchmark index is down 1.8% to 7,267 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 4.5% to $14.56. Investors have been selling the mining giant’s shares after the iron ore price pulled back again on Friday night. Unfortunately, iron ore futures are pointing to further declines during tonight’s trading session. Concerns over the potential collapse of Evergrande in China appear to be weighing on prices.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price has fallen 7% to $1.36. This morning the energy company released its full year results. In FY 2021, the company reported sales revenue of US$170.8 million and an underlying net profit of US$33.4 million.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price is down almost 9% to 99.5 cents. The nickel producer’s shares have come under pressure today amid concerns that the company could be negatively impacted by tax changes in Indonesia. An announcement notes that on Friday, the Indonesian Investment Minister was reported as suggesting that Indonesia is exploring the possibility of levying an export tax on nickel products with less than 70% nickel content.

Orocobre Limited (ASX: ORE)

The Orocobre share price has tumbled 7% to $8.66. While broad market weakness is weighing on this lithium miner’s shares, it was also the subject of a mixed broker note out of Bell Potter. According to the note, its analysts have resumed coverage on the company with a hold rating and $9.30 price target. This was broadly in line with where its shares were trading prior to today’s decline. Bell Potter is a fan of Orocobre but felt its shares were fully valued.

The post Why Fortescue, Karoon Energy, Nickel Mines, & Orocobre shares are sinking appeared first on The Motley Fool Australia.

More reading

• Karoon Energy (ASX: KAR) share price sinks despite record profit
• Why is the Fenix Resources (ASX:FEX) share price crashing 27% today?
• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Fortescue (ASX:FMG) share price slides 6% as iron ore woes continue
• Why the Nickel Mines (ASX:NIC) share price is sinking 6% today

Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australian government’s recent decision to leave negotiations dead in the water with French defence contractor Naval Group has cast concern on the sustainability of its workforce. Fortunately, Adelaide-based shipbuilder ASC has offered its help to workers who might be impacted by the fallout — leaving ASX investors wondering if the company is listed.

This follows Prime Minister Scott Morrison announcing a new alliance with the United States and the United Kingdom, known as AUKUS, on Thursday. As part of the alliance, Australia will do away with its previous plan of a $90 billion diesel-powered fleet made by Naval Group, in place of a new nuclear-powered fleet.

The sudden bombshell decision has left uncertainty for the 350 people employed by Naval Group in South Australia. That’s in addition to a further 40 people who had relocated to France in anticipation of the multibillion-dollar contract.

A shipbuilder in unknown waters

Plans for nuclear submarines weren’t the only thing announced by the government last week. Rather, the government also revealed a plan to extend the life of all 6 Collins Class submarines and retain full cycle docking of the fleet at Osborne, South Australia. In short, ASC will now be responsible for the extensive maintenance and upgrade of several submarines.

Additionally, in an announcement, the company noted it would work with the government to “support, train, and grow the workforce needed to build Australia’s nuclear-powered submarines”. However, the government hasn’t decided who will construct the newest fleet.

It appears the company is busier than ever at the moment. Following the Naval news, ASC broadcasted it could take on workers impacted by the contract scrapping. In fact, ASC chair Bruce Carter stated, “We will welcome them into ASC if they want to come here. We need every single person, hands on deck, at the moment.”

The positive developments for ASC has ASX investors looking for ways to capitalise. Though, at this point, the 36-year-old shipbuilding company is not tradeable on the public market. Instead, it is wholly owned by the Australian government. The last of its privately-owned shares were acquired by the government in the year 2000.

How much are ASC shares worth?

Given that ASC is not a publicly listed company, it is difficult to know how much ASC shares are worth. Luckily, the company shares its annual reports with the public. So, let’s take a look at the most recent one.

The company’s annual report for 2020 (for the year ending September 2020) shows ASC made $675.9 million in revenue during FY20. Meanwhile, its after-tax earnings came to $22.6 million. For comparison, global shipbuilding company Austal Ltd (ASX: ASB) pulled in $1,572 million in revenue and $81.1 million in earnings in FY21.

Currently, Austal is trading on a price-to-earnings (P/E) ratio of 7.7 times, giving it a market capitalisation of $616.6 million. However, the global aerospace and defence industry trades on an average of 29.8 times earnings.

Based on this, if ASC was a public company, it could be valued somewhere between $174 million to $673 million.

Can you invest in ASC on the ASX?

As we’ve pointed out, ASC is government-owned and not listed on the ASX. However, there are alternative investments available to keen defence investors. As previously mentioned, Austal is an ASX-listed shipbuilder that would likely give an investor close resemblance to ASC.

On the other hand, there are many other listed companies operating in defence more broadly. For example, these include Electro Optic Systems Ltd (ASX: EOS) and Droneshield Ltd (ASX: DRO).

The post Is shipbuilder ASC listed on the ASX? appeared first on The Motley Fool Australia.

More reading

• Prescient Therapeutics (ASX:PTX) share price leaps 11%, up 50% in a month
• Why is the ASX All Ordinaries (ASX:XAO) struggling lately?
• Which ASX 300 shares are leading the way on Monday?
• Pointerra (ASX:3DP) share price lower despite new contract wins
• Infinity Lithium (ASX:INF) share price leaps 9% on project update

Motley Fool contributor Mitchell Lawler owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Austal Limited, DroneShield Ltd, and Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended DroneShield Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 index (ASX: XJO) has started the week in the red and is currently down 2% to 7,252.6 points.

Whereas the S&P/ASX 200 Health Care index (XHJ) is also around 1% in the red today, one ASX Healthcare share is outpacing the broad indices.

Clinical research company Prescient Therapeutics Ltd (ASX: PTX)’s shares are now changing hands at 30 cents apiece, which is an 11% gain from the market open today.

Let’s take a closer look at what’s propelling the Prescient share price in today’s session.

What’s up with the Prescient Therapeutics share price today?

Prescient’s shares have been on the move since the company reported its FY21 earnings last month.

In its report, the company saw a 6% decrease in revenue from the previous year and increased its loss after tax by 25%.

It also raised a bunch of capital and grew its net assets by almost $10 million year over year as a result.

However, being a clinical stage biotechnology company, Prescient is less concerned with revenue and profits than it is with clinical trial results. So it’s important to hone in on this to get an accurate snapshot of what’s behind the company’s share price.

The company’s lead drug candidates, PTX-100 and PTX-200 have each progressed through initial phase stages of clinical trials and shown positive results.

Both compounds are aimed at the treatment and prevention of cancer, by blocking the growth of tumours in the body.

In its FY21 earnings release, Prescient advised that PTX-100 successfully completed Phase 1b trials in FY21, with the label “yielding encouraging results”.

PTX-200 is currently in a Phase 1b trial investigating its safety and efficacy in patients with a complex condition known as relapsed and refractory acute myeloid leukaemia (AML).

More information concerning the next stages of both candidates is expected over the coming periods.

Aside from this, another key takeout from Prescient’s year in FY21 was the development of its OmniCAR platform.

OmniCAR was created to overcome some of the challenges and limitations of CAR-T treatments – a new type of intervention used in immunotherapy and the treatment of cancer.

The company made significant developments in this area over the course of FY21, marking another step forward in its clinical and growth narratives.

Investors certainly appear to have bought the Prescient Therapeutics share price on this clinical momentum, pushing it 58% higher in the few weeks since the company released its FY21 performance.

Prescient Therapeutics share price snapshot

The Prescient Therapeutics share price has posted a year to date return of 348%, extending its gain over the past 12 months to 341%.

Over the last month alone, it has climbed a further 54% into the green.

Each of these results has far outpaced the broad index’s climb of around 25% over the past year.

The post Prescient Therapeutics (ASX:PTX) share price leaps 11%, up 50% in a month appeared first on The Motley Fool Australia.

More reading

• Prescient Therapeutics (ASX:PTX) share price up 5% on Thursday

The author Zach Bristow has no positions 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It certainly hasn’t been a pleasant month or so for the All Ordinaries Index (ASX: XAO). Since the All Ords last peaked at 7,902 points on 13 August, the ASX’s oldest share market index has shed around 4% of its value. Much of this loss has occurred over just the past few trading days. The All Ords has now lost around 2.3% since just last Thursday.

So what’s going on here?

Well, the All Ordinaries is an ASX index that covers 500 of the largest companies on the ASX boards. But (like most indexes), it is also weighted by market capitalisation. That means the largest companies have a bigger weighting and impact on the All Ords than the smaller ones.

How is the ASX All Ordinaries constructed?

As it stands today, the 10 largest ASX shares in the All Ords are as follows (as of 31 August):

1. Commonwealth Bank of Australia (ASX: CBA)
2. CSL Limited (ASX: CSL)
3. BHP Group Ltd (ASX: BHP)
4. Westpac Banking Corp (ASX: WBC)
5. National Australia Bank Ltd. (ASX: NAB)
6. Australia and New Zealand Banking Group Ltd (ASX: ANZ)
7. Wesfarmers Ltd (ASX: WES)
8. Fortescue Metals Group Limited (ASX: FMG)
9. Macquarie Group Ltd (ASX: MQG)
10. Woolworths Group Ltd (ASX: WOW)

So you can already see that the major ASX banks, BHP and CSL are the heavy hitters of the ASX All Ords.

So let’s see how these ASX shares have fared since 13 August.

Since that date, CBA shares have lost a little more than 2.5% of their value. Westpac is down by 3.1%, whilst NAB has lost a far smaller 0.8%. ANZ takes the cake with a steep loss of roughly 7.7%.

CSL bucks the trend. This healthcare company has managed a healthy increase over the period in question, gaining a robust 3.33% since 13 August and today (so far).

BHP share price lets the team down

BHP takes the cake though. It has lost a very nasty 29.3% since 13 August. As such, we have the BHP share price to blame for most of the ASX All Ordinaries’ disappointing performance over the past month and a bit.

Why this steep fall for BHP shares? Well, the iron ore price has collapsed over the past few months. Iron ore is today trading back at roughly US$100 a tonne. But as recently as May, it was at record highs of more than US$230 a tonne. This steep fall in the pricing of this commodity clearly damages the profitability prospects of the ASX’s iron ore miners, of which BHP is the largest.

However, we are also seemingly seeing history repeating itself.

Many an investor would have heard the old investing proverb ‘Sell in May and go away’. It’s the idea that the months following May are almost always a bad time to have your money in the share market. So if you ‘sell in May and go away,’ you can avoid this seasonal slump.

Well, a recent article from MarcusToday puts some credibility to this theory. According to the article, the All Ords has averaged a return of roughly 6.5% for the 6 months before May ever since 1982. For the 6 months following May, the All Ords has instead returned an average of just 1.5% since 1982.

The All Ord’s performance over the past month or two has certainly fed into these averages.

Even so, that’s cold comfort for ASX All Ords investors today. So just blame BHP and falling iron ore prices!

The post Why is the ASX All Ordinaries (ASX:XAO) struggling lately? appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Why this fund manager is ditching Rio Tinto for BHP (ASX:BHP) shares
• The CSL (ASX:CSL) share price has had a good 6 months. Is it a buy?
• The BHP (ASX:BHP) share price is down 5% in a week, what’s next?
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 300 Index (ASX: XKO) is off to a poor start on Monday, erasing all of last week’s gains.

During afternoon trade, the ASX 300 is down 1.54% to 7,294 points. Currently, the index is around 4.5% off its all-time high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the biggest movers today.

AusNet Services Ltd (ASX: AST)

The Ausnet share price is rocketing 17.93% to $2.335 in early afternoon trade.

The energy provider received a non-binding offer from Brookfield Asset Management to acquire 100% of its shares at $2.50 apiece. This represents 26% premium to Ausnet’s last closing price of $1.98 and a 35% premium to its 30-day volume-weighted average share price (VWAP).

Ausnet has decided to let Brookfield conduct due diligence on an exclusive basis to put forward an offer.

Novonix Ltd (ASX: NVX)

The Novonix share price is storming 4.83% to another all-time high of $4.29.

The company hasn’t released any market-sensitive news of late, however, anticipated demand in lithium-ion batteries seems to be the catalyst. Furthermore, the spot price for lithium carbonate has roared to 153,000 Chinese yuan per metric tonne (roughly A$32,700).

Novonix has also been added to the ASX 300 Index today after surging in value due to investor interest.

Endeavour Group Ltd (ASX: EDV)

Another strong mover for the start of the week is the Endeavour share price, up 3.42% to $6.66.

The drinks company hasn’t released any price-sensitive news to the ASX since its full-year results late last month.

It appears investors are buying up Endeavour shares after they hit a monthly low of $6.43 on Friday. Its shares were recently trading as high as $7.50 in August.

And which ASX 300 companies are heading the other way?

Champion Iron Ltd (ASX: CIA)

Freefalling today is the Champion Iron share price, down a sizeable 14.38% to $4.375.

The iron ore miner’s shares are coming under pressure following weakness in the spot price of iron ore. The steel-making ingredient’s price has fallen by more than 23% over the past month.

Paladin Energy Ltd (ASX: PDN)

Also being weighed down by investors today is the Paladin share price, down 15.53% to 87 cents.

The uranium company’s shares are plunging after investors are largely taking profit off the table. Its shares rose to incredible highs over the last few weeks, reaching a multi-year high of $1.12.

It is worth noting that the company’s share price is up 520% since this time last year and above 260% year-to-date.

The post Which ASX 300 shares are leading the way on Monday? appeared first on The Motley Fool Australia.

More reading

• Novonix (ASX:NVX) share price leaps to another new all-time high
• Why ASX uranium shares are diving double-digits on Monday
• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Why the Paladin Energy (ASX:PDN) share price is down 15% on Monday
• Ausnet (ASX:AST) share price rockets 20% on fresh takeover bid

Motley Fool contributor Aaron Teboneras 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pointerra Ltd (ASX: 3DP) share price is under pressure on Monday.

At the time of writing, the 3D geospatial data technology company’s shares are down 5.5% to 50.5 cents.

Why is the Pointerra share price falling?

Investors have been selling down the Pointerra share price after broad market weakness offset the release of a positive announcement.

According to the release, the company has won a number of contracts during September. This includes a $1.55 million contract with Florida Power & Light across four projects.

In addition, the company has signed contracts with Pacific Gas & Electric and Gridvision worth ~$0.25 million each.

What are the contracts covering?

The deal with Florida Power & Light includes a vegetation growth predictive analytics project. This will study and model the likely impact on powerline infrastructure of growth in vegetation adjacent to the powerline network over a 16-month period.

Using multiple aerial captures with multiple sensors over the project period, Pointerra3D will model change (delta) in vegetation growth and use the delta combined with species detection analytics to predict vegetation growth.

Management notes that the expected outcome for Florida Power & Light is better scheduling of vegetation management activities, which is a significant part of the utility’s ongoing network asset management operations.

In addition, other projects with Florida Power & Light include weather related network change detection and the demonstration of the integration of IkeGPS Group Ltd’s (ASX: IKE) highly regarded Poleforeman utility pole engineering software into Pointerra3D.

What else?

The contract with Pacific Gas & Electric is similar to the main Florida Power & Light contract. It is a vegetation management analytics project.

Whereas, finally, the contract with Gridvision is for mine powerline data capture and analytics campaigns for the power infrastructure network of a global tier-one miner’s Australian operations.

Management believes the endorsement of the Pointerra3D solution by electrical engineering teams could accelerate adoption and spend by its mining sector customers as other business units are exposed to the technology and how it can solve their specific challenges.

The post Pointerra (ASX:3DP) share price lower despite new contract wins appeared first on The Motley Fool Australia.

More reading

• Pointerra (ASX:3DP) share price leaps 21% as cash receipts surge
• Pointerra (ASX:3DP) share price 5% higher on triple-digit revenue growth in FY21
• 3 exciting small cap ASX shares to watch closely
• Pointerra (ASX:3DP) share price leaps 8% ahead of next week’s earnings

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointerra Limited and ikeGPS Group Limited. The Motley Fool Australia has recommended Pointerra Limited and ikeGPS Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Infinity Lithium Corporation Ltd (ASX: INF) share price is soaring today after the company released news of its San José Lithium Project.

Metallurgical test work has produced bench-scale battery grade lithium hydroxide monohydrate and lithium carbonate from San José’s lithium products.

Right now, the Infinity Lithium share price is trading at 13 cents, 8.7% higher than its previous close.

Let’s take a closer look at the news driving the European lithium producer’s share price today.

Battery grade lithium produced

The Infinity Lithium share price is taking off on news of positive metallurgical test work.

The products of the company’s 75% owned San José are able to produce battery grade lithium products.

As a result, the company has begun offtake discussions with automakers and lithium-ion battery producers.

According to the company, San José’s location in Spain means it’s ready to supply lithium products to the European battery industry and related Spanish industries.

Additionally, the findings have successfully advanced Infinity Lithium’s alternative processing method for lithium bearing minerals and mineral concentrates. The company’s method is undergoing a feasibility study conducted by Dorfner’s Anzaplan. Patent applications for the process are pending.

The company is also undertaking a review of alternative extractive technologies. The review will find the best process for commercial development.

The review found 2 new and potentially feasible processes that could improve the process’ performance, cost, environmental and social requirements, as well as complexity.

Infinity Lithium has begun a laboratory-scale test work program to test the feasibility of these processes. However, it will make sure the work won’t come at the expense of its feasibility study or the delivery of lithium chemicals requested by offtake parties.

Infinity Lithium share price snapshot

Today’s gains haven’t been enough to boost the Infinity Lithium share price back into the ASX green.

Right now, the company’s share price is 26% lower than it was at the start of 2021.

However, it is 38% higher than it was this time last year.

The post Infinity Lithium (ASX:INF) share price leaps 9% on project update appeared first on The Motley Fool Australia.

More reading

• Why the Lynas (ASX:LYC)share price is sliding 12% on Monday
• How have these 3 ASX 200 travel shares performed since reporting results?
• Why the Telstra (ASX:TLS) share price is outperforming the ASX 200 today
• Karoon Energy (ASX: KAR) share price sinks despite record profit
• Why is the Fenix Resources (ASX:FEX) share price crashing 27% today?

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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Lynas Rare Earths Ltd (ASX: LYC) share price is slipping into the red as we commence trade this week.

The Lynas share price has been selling off since 15 September when it came off a high of $7.79 at tremendous speed.

Shares in the rare earths player are now changing hands at $6.61 each, which is a 12.33% drop from the market open on Monday.

There’s been no market-sensitive information for the company, so let’s investigate what’s up with Lynas’ shares today.

What in front of the Lynas share price lately?

Lynas’ core business area of rare earths’ mining and development is an elusive yet essential segment.

Funnily enough, rare earths metals aren’t actually that rare. But they are essential. They are used in a diverse range of applications, particularly in electrical components in everything from speakers to electric motors to medical instruments.

There are 17 of these metals and each is becoming more and more essential in the demand for electrical necessities.

What’s more, the Lynas share price can fluctuate from volatility in rare earths’ markets.

This is because Lynas, as an ASX-resource share that produces commodities, is considered a price taker. That means its share price can potentially benefit from surging demand in rare earths metals.

Looking at the price chart for Neodymium, a rare earth Lynas produces, over the last 6 months, we can see it has climbed around 34%. The Lynas share price has also climbed around 32% over the same period.

This surging demand in Neodymium is fuelled by a profile of technology advancements and more industries using these advancements. Additionally, the coronavirus is lifting our appetite for electronics in just about everything.

However, recent geopolitical tensions between the US and China appear to have spilled over to the broader ASX resources space, including the rare earths markets.

This is in addition to China placing restrictions on its domestic resource producers in 2021 to curb production rates.

This is important for Lynas. According to analysis from commodity experts Roskill, China controls around 55% of global rare earths’ production capacity and 85% of global refining output for rare earths elements.

The S&P/ASX 200 Resources Index (XJR) is down 4.91% today as well, extending its loss over the past 5 days to 8.7%. The same index is down almost 9% over the past month as well.

So it appears that broad weakness in the ASX resources sector, spurred on by geopolitical tensions and an unstable rare earths’ outlook, could be weighing on the Lynas share price today.

Lynas share price snapshot

The Lynas share price has gained 69% this year to date, extending its return to 167% over the past 12 months.

However, it has flatlined over the last month and is 2% in the red over the past week.

Despite this, Lynas shares have outpaced the S&P/ASX 200 Index (ASX: XJO)’s gain of around 25% over the past year.

The post Why the Lynas (ASX:LYC)share price is sliding 12% on Monday appeared first on The Motley Fool Australia.

More reading

• Why the Lynas (ASX:LYC) share price is up 86% in 2021
• Here are the top 10 ASX shares today
• ASX 200 energy and materials shares are leading the market on Monday
• Materials sector lagged the ASX 200 on Tuesday
• The Lynas Rare Earths (ASX:LYC) share price is soaring 4% on Tuesday

The author Zach Bristow has no positions 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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S&P/ASX 200 Index (ASX: XJO) travel shares took some of the hardest hits when COVID-19 swept across the globe in early 2020.

While they also enjoyed some of the bigger bounce backs in the latter months of 2020, following the announcement of successful vaccines at the end of October, they are all still trading well below their pre-pandemic levels.

The Flight Centre Travel Group Ltd (ASX: FLT) share price, for example, remains down 49% since 21 February 2020, while the ASX 200 has managed to gain 2%.

The Webjet Ltd (ASX: WEB) is still down 40% since 21 February 2020.

The Qantas Airways Ltd (ASX: QAN) share price has fared the best, but it also remains down 17% over that same period.

With the price of all 3 ASX 200 travel shares yet to recover from the pandemic lockdowns, we take a look at how they’ve been performing since reporting their full year 2021 financial results (FY21).

Along with a brief recap of those results…

How has the ASX 200 airline performed since reporting results?

Qantas reported its FY21 results before market open on 26 August.

Some of the core numbers the airline reported included a statutory loss before tax of $2.35 billion.

Reporting a $12 billion hit from the pandemic-related travel closures, full year revenue came in at $5.9 billion.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were in line with management’s guidance, at $410 million.

Qantas did not pay a final or interim dividend in FY21.

Despite the hefty losses, the Qantas share price closed up 3.5% on Friday, perhaps driven by news on the day that the airline intended to resume international flights by the Christmas holidays.

Qantas shares are down 2% today, but remain up 11% since the company reported results. The ASX 200 has lost 4% over that same period.

How about Webjet?

Webjet reported its FY21 results back on 19 May.

The ASX 200 travel share saw its full year revenues shrink to $38.5 million, down from $266.1 million in FY20.

The company slashed costs during the year but still reported an underlying operating earnings loss of $56.3 million.

Webjet’s balance sheet remained solid, with $431 million pro forma cash on hand.

Management did not declare a final dividend.

Investors’ response to the results was fairly mild, indicating much of the bad news had already been priced in. On the day of reporting, the Webjet share price fell 0.6%. Since market open on 19 May shares are up 25%.

The ASX 200 has gained 3% over that same time.

How has Flight Centre performed since reporting?

Rounding off our ASX 200 travel shares, Flight Centre posted its FY21 results before market open on 26 August.

Among the key metrics, Flight Centre reported total revenue of $396 million, down 79% year-on-year.

The company was deep in the red, with an underlying loss before tax at $507 million, similar to losses suffered in FY20.

Despite this, Flight Centre’s balance sheet looked solid, with a cash balance as at 30 June of $1.36 billion.

As with the other 2 ASX 200 travel shares above, Flight Centre did not pay an interim or final dividend for the financial year.

Perhaps spurred on by management statement that the company can be profitable in FY22, the Flight Centre share price finished the day up 4.0%.

Since market open on 26 August, Flight Centre shares are up 10%. The ASX 200 is down 4% in that same time.

The post How have these 3 ASX 200 travel shares performed since reporting results? appeared first on The Motley Fool Australia.

More reading

• 2 ASX travel shares to consider buying
• Is it too late to buy Qantas (ASX:QAN) and other ASX travel shares?
• Qantas (ASX:QAN) share price lifts on oversubscribed bond refinance update
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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.

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The Telstra Corporation Ltd (ASX: TLS) share price may be trading lower today but it is faring much better than the market as a whole.

At the time of writing, the telco giant’s shares are down 0.5% to $3.90.

This compares to a 2.2% decline by the benchmark S&P/ASX 200 Index (ASX: XJO).

Why is the Telstra share price outperforming?

Something that could be supporting the Telstra share price a touch today was news that the company is now offering two-hour deliveries in certain areas of Australia.

According to the media release, the new service, which is offered in partnership with Zoom2u Technologies Ltd (ASX: Z2U), provides Telstra customers with a free two-hour delivery of Apple and Samsung handsets to homes in selected areas of Sydney, Melbourne, and Brisbane.

However, it is worth noting that the service is only being trialled at the moment and may not be a permanent fixture for customers.

Nevertheless, it is being trialled at a very opportune time. With Apple just announcing the iPhone 13 and Samsung launching its flip phone, demand for handsets is increasing.

And if you’re impatient when it comes to deliveries like I am, this offering could be what sways you to contract with Telstra ahead of rivals Optus or TPG Telecom Ltd (ASX: TPG).

To take advantage of the offer, customers will need to call a participating store and order their new Apple or Samsung phone. After which, Telstra advises that it will zoom the phone to the customer’s home within two hours in eligible metro areas.

Zoom2u shares fall

While the Telstra share price may be performing better than the share market today, the same cannot be said for the Zoom2u share price.

Despite being included in this offering, the company’s shares have tumbled 12% to 59 cents on Monday.

Though, this is still almost triple Zoom2u’s IPO listing price of 20 cents from earlier this month.

The post Why the Telstra (ASX:TLS) share price is outperforming the ASX 200 today appeared first on The Motley Fool Australia.

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• The Zoom2u (ASX:Z2U) share price has soared 267% in a week

Motley Fool contributor James Mickleboro 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 Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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