adplus-dvertising
Connect with us

Investment

Travel stocks fall as Omicron spurs mass flight cancellations for fourth day

Published

3 years ago

 on

Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays.

Over 800 flights were canceled within, into, or out of the United States on Monday, data from flight-tracking website FlightAware.com showed.

That was on top of over 3,000 flight cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans.

Shares of American Airlines Group Inc, United Airlines Holdings Inc, Delta Air Lines Inc and Southwest Airlines Co were down between 0.2% and 0.8%.

Most airline stocks have rallied this year on hopes of a travel boom as travelers start visiting friends and family after dealing with pandemic-related restrictions last year.

However, staff shortages at airlines, weather-related disruptions and now the fast-spreading Omicron variant have disrupted flights frequently this year.

Poor weather in some areas has also added to travelers woes.

Southwest Airlines said it had canceled about 50 of the 3,600 flights scheduled Monday due to weather-related problems.

Delta and United did not respond to Reuters’ requests for comment, while American Airlines pointed to its statement on Saturday that said the carrier had to cancel flights due to “COVID-related sick calls”.

Separately, the Shanghai government said on Monday that the country’s aviation regulator would suspend two China Eastern Airlines Corp Ltd flights from New York to Shanghai from Jan. 3 due to rising COVID-19 cases.

Other travel stocks also came under pressure as Omicron triggers fears of tougher restrictions.

Shares of Norwegian Cruise Line Holdings, Royal Caribbean Cruises Ltd and Carnival Corp were down between 1.1% and 2.3%.

Carnival Corp said it had isolated a small number of passengers on board its Carnival Freedom cruise ship due to positive COVID-19 test results. All passengers from the cruise trip disembarked on Sunday, and the ship departed Monday afternoon on its next planned voyage, it added.

Travel firms Airbnb Inc, Expedia Group Inc and Tripadvisor Inc fell between 0.4% and 1%.

Hotel operators Marriott International Inc and Hilton Worldwide Holdings Inc were down marginally.

(Reporting by Aishwarya Nair and Abhijith Ganapavaram in Bengaluru; Additional reporting by Ananya Mariam Rajesh; Editing by Anil D’Silva)

Related Topics:
Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

 on

October 16, 2024

By

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

 on

October 11, 2024

By

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

4 weeks ago

 on

October 10, 2024

By

 

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending