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Webjet shares lifted off today as investors eye a return to international travel!

ASX closed green; Webjet rose on return to travel; Kathmandu fell despite impressive FY21 results

The ASX200 closed 0.35% higher on Tuesday at 7273.80.

Webjet shares lifted off as investor optimism rose for a return to travel.

Kathmandu fell on FY22 impacts, despite releasing solid FY21 results.

The Australian market overcame a morning decline to close 0.35% higher on Tuesday at 7273.80 as energy stocks led gains on the ASX with AusNet Services posting the highest gain of 9.11% at the end of today’s session.

The tech sector surged in afternoon trade to close more than 1% higher on Tuesday as Wisetech Global jumped more than 5%, while Megaport and EML Payments added 3.7% and 2.7% respectively.

Bitcoin is trading 5.98% lower over the last 24-hours at US$42,804.73 at 4:45pm AEST.

Webjet shares lifted off today as investor confidence around a return to international travel increases as the vaccination rate rises. The federal government requires an 80% full vaccination rate in Australia before international borders can reopen, while NSW has begun trialling COVID-19 quarantine from home for returning Aussies. Qantas has also launched flights to Fiji, the UK and America which has investors backing travel shares like webjet today.

Making headlines, outdoor activity retailer Kathmandu took a hit today after releasing FY21 results. For the period, Kathmandu reported sales growth of 15.1% to $922.8m from FY20 results, EBITDA increased 35.9% to $113.3m from FY20 and underlying net profit after tax jumped 110.2% on FY20 to $66.3m. Shares in Kathmandu fell today as management warned that FY22 performance so far has been hit by lockdowns and supply chain issues.

And The Pawsey Supercomputing Centre in WA has unveiled a new super-powerful computing system called ‘Quokka’ and is described as the ‘fastest public supercomputer in the Southern Hemisphere’.

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