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Webjet rallies on WebBeds profitability, do you think September will remain profitable for WebBeds though as the Delta COVID strain spreads?

  • ASX200 closed 0.41% higher at 7534.90 on Tuesday.
  • Webjet rallied on WebBeds returning to profitability in July & August.
  • Regional Express rallied on FY21 results including decreased loss.

The Australian market continued its green run into Tuesday, closing the session 0.41% higher at 7534.90 fuelled by strong gains for tech stocks.

Crude oil prices hit a one-month high today as Hurricane Ida passed over the Gulf of Mexico causing production of oil in the Gulf to idle, resulting in around 2 million barrels/day removed from market capacity.

The tech rally in today’s session was led by Appen surging just under 7%, Wisetech Global jumping more than 6% and NEXTDC finishing the session 3.5% higher.

Bitcoin is trading 1.74% lower over the last 24-hours at US$47,074.25 at 4:30pm AEST.

Online travel agent Webjet surged today after providing a positive update ahead of its AGM. Webjet’s travel accommodation supplier business, WebBeds, returned to profitability since July 2021, as the company sees demand strengthening due to travel restrictions easing in North America, Europe and further international markets post-pandemic.

Making headlines, Regional Express also rallied today after releasing FY21 results. For the 12-months, REX Airlines reported strengthening conditions from FY20 results, including a 33% improvement on underlying operating loss to $18.4m, and statutory profit after tax loss of $4.9m, up 34.6% from the year earlier. Group total revenue dipped 20.4% to $256.2m.

And as Tesla’s Autopilot full-self driving system is being formally investigated in the US, another Tesla under self-driving control crashed into a parked police car in the US, making it the 12th Tesla to do so.

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