BAA parent, Ferrovial’s shares slumped 5.3% on Monday, leading the slide in airport stocks as the European stock market dropped to a two month low. TAV Airports went against the trend, rising 3.0%. Major European operators’ shares also slumped, including Fraport (-4.8%), Vienna Airport (-4.3%), Zurich Airport (-1.6%) and Aeroports de Paris (-0.8%).
The World Bank has slashed global GDP outlook for 2009 from -1.7% to -2.9%, which sent Wall Street and European stock markets lower. The World Bank also revised upwards oil price forecast for the year by 18%, from USD47/barrel to USD55.5/barrel.
Asia Pacific stock markets held up yesterday (but are sharply lower in morning trade today), with Macquarie Airports’ shares easing -0.4% yesterday as the Federal Government's approval of Sydney Airport's 20-year Master Plan, but stated a second airport site at Sydney should be found. Jetstar is calling for more military bases in Australia to offer civil aviation facilities.
Selected airports daily share price movements (% change): 22-Jun-09