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ASX gains as AMP, Telstra rally

person looking at flight indicators at an airport

The S&P/ASX 200 closed up Friday, gaining 32.70 points or 0.44% to 7,420.30 and crossing above its 50-day moving average.

It was a shortened session, for the holiday season, and the market will be closed on Monday December 27 and Tuesday December 28, 2021.

Over the past five days, the index has gained 1.59% and is currently 2.78% off of its 52-week high.

The Australian dollar is trading around US72.32c, still around 6% weaker year to date against the US dollar. Bitcoin is currently trading above $US51,000, having fallen about 30% over the past five weeks after setting a record high of almost $US69,000 in early November.

Over 80 domestic flights have been cancelled due to a shortage of airline staff, reports The Sydney Morning Herald and The Age.  A spokesman for Sydney Airport told the news outlets that 80 domestic flights were cancelled on Friday. Airlines do not have enough staff due to isolation requirements.

Qantas and Webjet each closed 1.7% higher, Corporate Travel Management was up 3.6% and Flight Centre gained 0.6%.

AMP announced it had offloaded its infrastructure debt unit to US private equity giant Ares Management in a $428 million deal. AMP shares closed 6.4% higher.

The telecommunications sector was the strongest for the session, up 1.2% with Telstra gaining 0.7% to hit its highest since August 2017.

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