My Account Menu

CAPA Login


Register to trial CAPA Membership!

Macquarie Airports, Ferrovial, AdeP, Hochtief airport funds sour as European markets slump

8-Dec-2008

The dark tone of European trading on Friday - with markets steeply down following the release of ugly US unemployment figures - hurt airport stocks on Friday. London's FTSE fell 2.7%, the German DAX lost 4.0% and France's CAC was down 5.5%.

Most of the major airport investors with large European exposure were savaged.

Meanwhile, Asian airports and Infratil and AIF showed much more resilience. ASUR too, after reporting 3.1% traffic growth in November's Mexican traffic, showed well.

Beijing Capital reported a good bounce-back in traffic for the October month, as pent-up demand generated an overall increase of 24.6% in passenger throughput. The airport is projecting 10% growth during 2009.

The Wall St rebound after European markets closed will probably stimulate some recovery in airport stocks today, but the general pessimism surrounding European consumer spending is weighing hard on the sector.

Selected airports daily share price movements (% change): 05-Dec-08


Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.