Another bad day for airport stocks

Airport stocks were down virtually across the board yesterday, as global equity markets struggled once more.

Only the operators of Venice and Vienna airports rose (by 1.6% and 1%, respectively), while Mexico’s OMA gained 1.1% and Malaysia Airports was flat. Leading the falls yesterday was Beijing Airport (-5%) and Rome Airport investor, Gemina (-4.5%). France’s AdP was again down heavily (-4.1%).

Autogrill rose 1.4% as Mediobanca Securities upgraded the company from “neutral" to “outperform”, citing an improved earnings outlook and recent stock under-performance.

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Selected airports daily share price movements (% change): 07-Jun-2010