Copenhagen Airport bounces. European airports stronger on better market sentiment.
After slumping more than 11% on Monday, speculative buying sent Copenhagen Airport shares leapt back 17.2% in heavy trading yesterday. The Macquarie owned airport stock is being influenced by both ownership-related rumours and industry issues about the future of key airline, SAS.
The sensitivity of the aviation industry to economic breezes was again illustrated yesterday on share markets. All of the European airport-related enterprises enjoyed higher-than-market improvements, as stock exchanges across the region saw positives in Citigroup's early 2009 outlook.
Vienna Airport shares rose 11.5%, Fraport was up 9.8% AdP improved 7.3% and Ferrovial rose 6.4%. Hochtief share prices increased 13.6%, mainly on positive non-airport contract news.
Mexican airport operators, GAP (+7.4%) and ASUR (+7.9%) also rose on the wave of American stock exchange buying yesterday, as did Beijing Capital Airport (+7.2%).
Selected airports daily share price movements (% change): 10-Mar-09