Travel stocks are the standout today as it seems everyone is keen to book a holiday as restrictions lift. Corporate Travel (+6%), Flight Centre (+7%), Qantas (+3%), Webjet (+6%).
– Coca Cola (+0.4%); said the virus has severely affected volumes across its major markets., with falls of about 33% in April vs last year. Stock is down just over 30% since mid-March.
– Macquarie (+0.6%); Ratings agency Fitch has downgraded its outlook for Macquarie to negative from stable, saying its earnings will come under pressure from the virus. What did we say the other day about ratings agencies?
– Senex (+15%); has upgraded its production forecast. Yes, upgraded.
….and Sydney’s Waverley college has been shut down this morning after a student tested positive to you know what.