Airport share prices drift downwards. Xiamen, Copenhagen Airports show biggest falls
Market Indices 11-Dec-08
US shares fell yesterday, as prospects weakened for the approval of a USD15 billion rescue plan for the troubled US car industry after a key Republican senator opposed the measure. The Dow Jones Industrial Average fell 196.33 (-2.24%) to 8565.09 points. The Nasdaq decreased 38.12 (-3.12%) to 1183.47 and the Standard & Poor's 500 index fell 10.93 (-2.52%) to 422.32.
Asia Pacific share markets closed mixed, but quiet. The Hong Kong Hang Seng rose 36.16 points (+0.23%) to 15613.9, the Tokyo Nikkei rose 60.31 (+0.70%) to 8720.55, while the Australian ASX200 fell 42.7 (-1.17%) to 3598.
European share markets also closed on a relatively quiet note. The FTSE gained +21.41 (+0.49%) closing at 4388.69, the DAX 30 fell -37.68 (-0.78%) to 4767.2, and the CAC 40 also lost ground closing at 3306.13, losing -14.18 (-0.43%).
Oil prices rallied on 11-Dec-08 gaining USD4.46 a barrel (+10.25%) closing at USD47.98 a barrel, as the International Energy Agency predicted global growth in oil demand would resume in 2009 and the Saudi oil minister said it pumped less oil than expected last month.
In the steady market environment, most airport stocks drifted down on the back of widespread negative sentiment, including the gloomy outlook advertised by IATA this week, as airline performance suffers from steeply declining demand.
Selected airports daily share price movements (% change): 11-Dec-08