Beijing Airport shares go through the roof as deal reached to offload cargo unit - share wrap

Shares in Beijing Capital International Airport Co Ltd soared 18% yesterday as the company agreed to sell its 24% stake in Air China Cargo, to Air China Ltd for USD105 million. Air China will move to 100% ownership of the cargo unit.

It was a very strong day for airport shares around the world, reflecting investor enthusiasm as the US economy shows some positive signs and the G20 leaders agreed to boost funding to the IMF, as part of efforts to stabilise the global economy.

Ferrovial shares leapt 8.4%, while Mexico's OMA and Malaysia Airports also rose more than 8%.

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Selected airports daily share price movements (% change): 02-Apr-09