Nowhere to hide for travel stocks hit by oil and war

Portugal Notícia Notícia

Nowhere to hide for travel stocks hit by oil and war
Portugal Últimas Notícias,Portugal Manchetes

World travel stocks face a difficult outlook as the war in Ukraine poses a deepening challenge to growth, and the intensifying rally in crude oil cripples aviation profit margins.

, with the West Texas Intermediate April contract up 7.4 per cent to $US115.68, and Brent May futures up 6.9 per cent to $US118.11. Spot gold added 1.7 per cent to $US1968.45 an ounce.

Aviation software and ticketing providers, Amadeus and Sabre, fell 8.6 per cent and 7.5 per cent respectively in Madrid and New York. Consumer discretionary stocks were notably weaker as Burberry fell 8.4 per cent in London. Unibail Rodamco Westfield sunk 7.6 per cent; on Friday its ASX-traded securities fell 4.9 per cent to $4.65.

"Although the headline print was strong, wage growth eased back a bit," said Capital Economics' Nicholas Farr. "The big picture though is that events in Ukraine continue to dominate markets."

 

Travel stocks just can’t get a break

Portugal Últimas Notícias, Portugal Manchetes



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