Qantas and Virgin Australia were among the top 20 performers on the ASX today, with their respective share prices closing up more than 3.5% as the new Coalition government prepares to be sworn in.
Abbott’s LNP beat the incumbent ALP in the federal election on Saturday to win a majority of lower house seats, and has promised to begin winding back the carbon tax within weeks of being sworn in.
Qantas shares today rose 3.79% to close at $1.37, while Virgin Australia shares rose 3.57% to $0.435.
The wider ASX 200 index rose about 0.7% to 5181.5, led by the materials and resources sub-indices, which rose 1.34% to 128.78 and 1.19% to 4136 respectively.
Via investing.com, here’s the ASX 200 today: