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."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia calls for Russia to be exiled from world sport after Ukraine invasionOn the evening of the opening ceremony of the Winter Paralympics in Beijing, Australia joins other countries in calling for Russia to be exiled from world sport after the country's invasion of Ukraine.
Read more »
Tens of thousands join rallies around the world in support of UkraineDemonstrators gathered in cities across Europe, the US and South America to demand an end to Russia’s invasion
Read more »
People around the world are booking Airbnbs in Ukraine. They don't plan to check-inAirbnb hosts in Ukraine are being flooded with bookings from people all over the world who have no plans to visit. Here's why. 9News
Read more »
Tight opening World Cup victory for Australia against EnglandAfter a grim two days, Australia’s women have given the cricket community something to smile about with an entertaining last-gasp victory over England in their opening World Cup match | SMHsport
Read more »
Leg-spinner Alana King’s perfect tribute to Shane Warne at women’s World CupAussie leg-spinner Alana King’s perfect tribute to the late Shane Warne has brought a tear to the eye of many cricket fans.
Read more »
Macron launches re-election bid: ‘Defend France from world disorders’If he succeeds, Mr Macron would be the first French leader for two decades to win a second term in office.
Read more »