Business
Why Flight Centre, Northern Star, Southern Cross Media, & Treasury Wine are sinking
In afternoon trade on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a strong gain. At the time of writing, the benchmark index is up 0.75% to 6,764.8 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down 4% to $18.64. This appears to have been driven by profit taking after a strong gain on Thursday following the Government’s announcement of a $1.2 billion stimulus package for the tourism industry. In addition, analysts at Citi have responded to the news by retaining their sell rating and $16.80 price target on the company’s shares.
Northern Star…
-
Noosa News21 hours agoDriver arrested after life-threatening hit-and-run on outskirts of Ipswich, Queensland
-
Business23 hours agoThis ASX 200 mining stock is eyeing the lithium throne
-
Business21 hours agoThe best ASX shares to buy and forget for 10+ years
-
Noosa News23 hours agoBrisbane lawyer Christopher Saines dies unexpectedly after massage while on holiday in Thailand