ASX sheds 2.3pc in a week as ‘V-shape’ recovery not so sure – The Australian Financial Review

The developments saw investors reduce their exposure to travel with Qantas shares losing 8.1 per cent over the week to close at $3.51, and Flight Centre falling 7.4 per cent to $10.54.
Afterpay was among a number of tech companies that set record highs on Friday before the case count announcement in Victoria led to the shares retreating, to end down 1.6 per cent at $72.31.
Other buy now, pay later juniors added to the sector’s significant run, with Splitit shares rising 3.2 per cent to close at $1.62, and Openpay Group advancing 4.3 per cent to $2.92.
While Commonwealth Bank managed to eke out a 0.3 per cent gain on Friday, the big four banks slid over the five sessions: CBA closed 1.3 per cent lower at $70.63, National Australia Bank shares eased 4.7 per cent to $17.86, ANZ was down 4.6 per cent at $18.30, and Westpac lost 4.8 per cent to end at $17.66.
Shares in Nine Entertainment, which owns The Australian Financial Review, closed 0.4 per cent lower at $1.37 on Friday after updating its 2020 earnings guidance and telling shareholders chief financial officer Paul Koppelman had resigned for personal reasons.
Chorus shares fell after a disappointing update, closing 7.5 per cent lower at $6.76, while AUB Group shares gained 2.2 per cent to $14.65 on a positive progress report.
Gold companies eased after rising sharply over the preceding days as prices for the precious metal pulled back from post-financial crisis highs. Evolution closed 3 per cent lower at $6.13 and Bellevue Gold lost 4 per cent to $2.08 after returning to trade on Friday following a capital raise.

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