European airport stocks edge higher, Asian stocks lower
Airport shares ended mixed, largely across geographies, on Wednesday 17-Nov-2010. Shares in European airports finished higher, pacing wider Euro markets, which recovered some of Tuesday's heavy losses. In Asia, shares in airports finished trade mostly lower amid concerns Beijing may tighten monetary policy.
GAP was the day's strongest gainer, adding 3.3% in Mexico City. Fellow airport operator ASUR (+0.8%) also gained.
AdP up following positive traffic results
Aeroports de Paris was another gainer adding 1.7%. AdP recently released an encouraging set of traffic data, which showed traffic at Paris CDG and Orly was up 4.7% in Oct-2010.
Fraport looks to complement its emerging markets portfolio
Fraport (+1.1) closed higher following recent statements indicating the airport operator would look at investing in Athens should the Greek government consider reducing its 55% stake. Fraport has also expressed interest in airports in the UK, to complement its emerging markets portfolio.
Asia Pacific operators close lower
Asian airport stocks ended mostly lower on Wednesday. Losses in wider Asian markets continued their downward trend on concerns Beijing may lift rates.
Hainan Meilan posted the day's sharpest drop, shedding 6.6%. India's GMR (-3.2%) and Australia's MAp (-2.9%) also closed lower.
Selected airport operators/investors daily share price movements (% change): 17-Nov-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance