Why Blackmores, Flight Centre, Kuniko, & Qantas shares are soaring today

These ASX shares are performing strongly today…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.7% to 7,481.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are soaring:

Blackmores Limited (ASX: BKL)

The Blackmores share price has jumped 11% to $88.68. This follows the release of the health supplements company’s full year results. For the 12 months ended 30 June, Blackmores reported a 1.3% increase in revenue to $575.9 million and a 51.7% jump in underlying net profit after tax to $25.4 million.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 4% to $16.99. This morning the leading travel agent reported its FY 2021 results and revealed a 74.2% decline in total transaction value (TTV) to $3,945 million. This ultimately led to Flight Centre reporting an underlying loss after tax of $364 million. However, management stated its belief that it can reach profitability in FY 2022. This appears to have boosted its shares.

Kuniko Ltd (ASX: KNI)

The Kuniko share price is rocketing 230% higher to $2.55. At one stage today, the battery metals explorer’s shares were up as much as 350% amid excitement around its exploration activities in Norway. Kuniko shares were spun out of Vulcan Energy Resources Ltd (ASX: VUL) earlier this week and began trading at just 20 cents.

Qantas Airways Limited (ASX: QAN)

The Qantas share price has risen 3.5% to $5.04. This is despite announcing a $2.35 billion pre-tax loss this morning. However, news that the airline is getting ready for international flights to resume before Christmas appears to have offset this and given the Qantas share price a boost today. This is based on the theory that Australia’s international borders will be cracked open when 80% of eligible Australians are vaccinated against COVID-19.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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