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European airport shares fall, some life still in Asia – Airports Share Wrap

Analysis

Shares in major European airport operators continued to drop on Wednesday, with Hochtief, which holds stakes in Athens, Budapest, Düsseldorf, Hamburg, Sydney and Tirana airports, dropping 8.0%.

Ferrovial, owner of BAA, lost 5.7%, as it continues to suffer from the fall out of its sale of London Gatwick to Global Infrastructure Partners, booking a capital loss of EUR142 million on the sale.

Zurich (-3.0%), Fraport (-2.5%) and Copenhagen (-1.9%) were also down.

Chinese airports reported stronger performances in trading yesterday. Xiamen Airport finished the day 3.3% higher, while Shenzhen (+2.4%) and Guangzhou (+0.6%) were also higher. However, Beijing and Hainan Meilan were weaker, down 1.9% and 3.4% respectively.

Elsewhere in the Asia Pacific, MAp also traded higher, up 2.5%, while Japan Air Terminal and Auckland Airport were flat. Airports of Thailand and Korea Airports lost ground, down 3.7% and 3.6% respectively.

Selected airports daily share price movements (% change): 28-Oct-09

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