Stocks of the Hour: Qantas, Sydney Airport & City ChicCraig Foley
Qantas's (ASX:QAN) bid to resume flights with Japan has been rejected, despite a strong alliance prior to the pandemic. The decision was made to preserve competition with other airlines. Shares in Qantas Airways (ASX:QAN) are trading 0.6 per cent lower at $5.29.
Sydney Airport (ASX:SYD) has received an upgraded takeover bid of $8.75 per share from Sydney Aviation Alliance. Sydney Airport granted due diligence subject to no other offers being received. Shares in Sydney Airport (ASX:SYD) are trading 4.4 per cent higher at $8.36.
City Chic (ASX:CCX) will say goodbye to its chief financial officer, who plans to leave at the end of this year. The global retailer plans to immediately start looking for a replacement. Shares in City Chic Collective (ASX:CCX) are trading 2.1 per cent lower at $6.29.
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Source: Finance News Network