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Qantas shares close +4.4%, Australian Government believes in Australian-based, majority-owned Qantas

Analysis

Qantas shares closed a modest 4.4% higher on the Sydney stock exchange today, at AUD2.35, on 50% higher volume than average and in a generally higher market. The stock roared up 9.8% shortly after the opening of trade on 03-Dec-08, but faded during the day as concerns grew over the regulatory aspects of any future deal. There are obviously plenty of sellers ready to unload stock as soon as buyers enter the ring.

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