ASX 200 down, Flight Centre rises, Redbubble falls

Flight Centre's expansion into Japan was a highlight in the ASX 200 today.

| More on:
share price dropping

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) fell by 0.5% today to 7,486 points.

Here are some of the highlights from the ASX:

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre announced an Asian expansion update today.

It said that it's going to launch its corporate travel FCM business in Japan, which it said was the world's fourth largest corporate travel market, with a joint venture with Tokyo-based NSF Engagement Corporation.

Flight Centre said that Japan was a significant addition to the global FCM network, which now extended to 97 countries.

The Flight Centre managing director Graham Turner said:

Japan is a key corporate market because of its size and importance within the global economy as a business hub for multi-national companies.

By securing an equity position in this crucial market, we will enhance our ability to win new local, regional and multi-national accounts, while also gaining greater control over and enhancing the service we provide to our existing customers with operations in Japan. We believe this will become a very significant business and a valuable addition to our Asian network, which also includes businesses in China including SAR Hong Kong, India, Singapore and Malaysia.

The ASX 200 company said it has invested during the pandemic so that it can recover quicker and drive future organic growth.

It has won corporate business accounts in FY21 that had pre-COVID annual spending of more than US$1.4 billion.

The Flight Centre share price ended 0.5% higher.

Redbubble Ltd (ASX: RBL)

Redbubble attracted investor attention today after it was revealed that co-founder Martin Hosking sold 5 million shares for $21 million.

The e-commerce share said that Mr Hosking sold shares to meet financial commitments. Mr Hosking confirmed he remains committed as a long-term significant shareholder of Redbubble.

Mr Hosking will continue to hold 39.5 million Redbubble shares, which is 14.43% of the business.

The net proceeds of the sale, after tax, will be used to close out an existing loan facility.

The Redbubble share price fell over 1%, though it was down materially more at the start of the day's trading.

Senex Energy Ltd (ASX: SXY)

The Senex Energy share price dropped 2% today.

It announced a gas sales agreement with the Australian packaging and paper manufacturer Opal. The deal is for up to six years and up to 12 petajoules of natural gas.

The initial four-year agreement starts on 1 January 2023. It will supply 8 PJ of natural gas at a fixed price, in line with current market levels. The two businesses have also signed a contract extension of up to two years and up to a further 4 PJ of sales.

Senex managing director and CEO Ian Davies said:

The agreement broadens Senex's reach in supplying natural gas throughout the east coast, with our Surat Basin gas to support industry in New South Wales for the first time.

Senex looks forward to building another strong, long-term and mutually beneficially relationship that support jobs, the economy and helps meet Australia's energy demand as it transitions to a lower carbon future.

Motley Fool contributor Tristan Harrison 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 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.

More on Share Market News

Happy young woman saving money in a piggy bank.
Share Market News

Buy these ASX dividend shares to beat term deposits

These shares could be superior to term deposits according to analysts.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back to the races this Tuesday.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Opinions

Could Soul Patts shares hit $50 in 2025?

This company jumped more than 16% yesterday.

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

9 ASX 200 shares just upgraded to strong buy ratings

Brokers have upgraded these shares amid expectations of price growth over the next 12 months.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why DroneShield, Judo, Pepper Money, and Strickland shares are surging today

These shares are having a good session on Tuesday. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Elders, IDP Education, Life360, and Pilbara Minerals shares are falling today

Let's see why investors are selling these shares.

Read more »