All Ordinaries (All Ords) index lunchtime report: WEB, CAR & QAN jump

Australia’s share market or All Ordinaries (ASX: XAO) index was down 0.9% at lunch on Friday.

However, Webjet Limited (ASX: WEB) Carsales.Com Ltd (ASX: CAR) and Qantas (ASX: QAN) were pushing higher.

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1. Webjet – up 9%

Webjet is a digital travel business spanning both global consumer markets (‘B2C’) and wholesale markets (‘B2B’). It was established in 1998 and now claims to be the leading online travel agency (OTA) in Australia and New Zealand. Webjet says it was the world’s first to use ‘Travel Services Aggregator’ technology and is now leading the industry in blockchain innovation.

Webjet shares are up 9% today after the successful completion of its retail entitlement offer. Find out more about Webjet capital raising here.

2. Carsales.Com – up 3%

Carsales have hit the ground running today, currently, they are up 3%. This is due to an update it provided in response to is March 20th 2020 statement. Click here to find out more.

3. Qantas Airways – up 1.8%

Qantas is Australia’s leading airline. It was founded in the Queensland outback in 1920, the Qantas name was originally Queensland and Northern Territory Aerial Services. The company operates two main airlines – Qantas and Jetstar – and subsidiary businesses including other airlines, businesses in specialist markets such as Q Catering, Qantas Freight Enterprises and the popular Qantas Frequent Flyer program.

The Qantas share price was bucking the market today. This could be due to Virgin Australia (ASX: VAH) going into voluntary administration. Why else Qantas could be on the up? Jaz Harrison wrote a story about Qantas and its recent capital initiatives.

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