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European airport shares soar as stock markets take off

Fraport CEO, Wilhelm Bender
Fraport CEO, Wilhelm Bender
  • European airport shares surge on UK stimulus package, Wall Street gains.

European airport shares enjoyed a very strong day on 24-Aug-08, with Ferrovial (owner of BAA) soaring 12.5% and AdP rising 11.7%.

Shares in Britain (FTSE-100 index) soared 9.8% - the biggest one-day gain on record - boosted by the UK Government's massive economic stimulus plan and a strong performance on Wall Street on Friday (repeated again after the European market close yesterday).

Germany's DAX index rose by more than 10% (with Fraport's shares rising 7.1% and Hochtief gaining 6.2%) and the CAC-40 in France finished up 9.4%.

Shares in Copenhagen (+1.7%) and Zurich (steady) airports missed out on the strong buying.

Meanwhile, Chinese airport shares dipped, but not as much as Chinese airline shares that were savaged yesterday.

Selected airports daily share price movements (% change): 24-Nov-08

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