Aust stocks close 1.4% lower

Local market slips below 5,200 after Qantas shares plunge as airline flags job cuts and warns of first-half loss of up to $300m.

The Australian stock market has lost more than one% after Qantas shares plunged as the airline warned of a first-half loss of up to $300 million and flagged 1000 job cuts.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index was 1.44% lower at 5,198 points, while the broader All Ordinaries index lost 1.34% to 5,196.9 points.


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