At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to end the year on a disappointing note. The benchmark index is currently down 0.6% to 6,643.5 points.
Here's what has been happening on the market today:
Travel shares under pressure.
The travel sector is under pressure on Thursday and the likes of Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) are recording notable declines. This appears to have been driven by news of more COVID-19 cases in New South Wales and three cases in Victoria. This has sparked concerns that the domestic travel market's recovery could take longer than expected.
Bank shares drop lower again.
The big four banks look set to end the year in a subdued manner. At lunch, all four of the big banks are dropping lower and are acting as a drag on the ASX 200 index. The worst performer in the group has been the National Australia Bank Ltd (ASX: NAB) share price with a decline of 0.8%. If it stays the same way, the NAB share price will end the year with a 7% annual decline.
CIMIC completes Thiess transaction.
The CIMIC Group Ltd (ASX: CIM) share price is edging higher today after completing the sale of a 50% stake in its Thiess business. CIMIC has sold half of the world's largest mining services provider to Elliott Advisors for an enterprise valuation of approximately $4.3 billion (based on 100% of Thiess). The transaction will generate approximately $2.2 billion in cash proceeds for CIMIC.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Thursday has been the Ramelius Resources Limited (ASX: RMS) share price with a 4% gain. This follows a rise in the gold price. The worst performer has been the Flight Centre share price with a 3% decline. This appears to have been driven by the aforementioned outbreak of COVID-19 in New South Wales and Victoria.
