Hochtief shares post largest fall in 10 months


Hochtief shares tumbled 7.9% on Thursday, the largest fall for more than 10 months, following an announcement that a change in its outlook at its Leighton Holdings Ltd unit in Australia will have “significant adverse effects” on the company’s 2011 results. Hochtief does not expect the adverse performance to affect its outlook for 2012 or 2013.

Also trading down in European airport stocks were Italian company Gemina, which lost 4.4% and Vienna Airport, down 2.1%.

Mexican airport operator GAP was down 3%. The company reported passenger numbers for Mar-2011 dropped 5.1% to 1.8 million, with both domestic and international passenger numbers falling.

Turkish airports company TAV reported the following traffic highlights for its airports for Mar-2011:

  • Passenger numbers: 3.7 million, +7%;

Selected airport share price movements (% change): 07-Apr-2011

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