MAp, Auckland and BAA parent gain, while Fraport and Aeroports de Paris slide
Asia Pacific airports led the increase in airport shares yesterday, with Auckland Airport, Macquarie Airports (MAp) and Australian Infrastructure Fund gaining 3.8%, 1.5% and 1.2%, respectively.
MAp's shares bounced back from the 1.5% decline at the end of last week after rejecting a counter offer from a consortium led by Global Airports for its management rights, which it is expected to pay AUD345 million to the Macquarie Group, as part of plans to internalise its management.
Meanwhile, shares in European airports closed lower, with Hochtief, Zurich Airport and Fraport closing down 3.6%, 3.4% and 2.2%, respectively. BAA parent, Ferrovial, went against the trend, rising 2.6% in trading yesterday.
Selected airports daily share price movements (% change): 21-Sep-2009
