Hochtief surges with Dubai contract. Beijing Capital announces acquisition. Airport share prices
Airport stocks looked a lot more rosy yesterday as at least a temporary confidence returned to share markets.
Hochtief leapt highest (+16.1%) on the combined good news that incoming President Obama would be lavishing money on construction projects and that the Dubai Department of Civil Aviation had awarded its Leighton construction arm part of a USD1.3 billion contract to construct a concourse at Dubai Airport.
And, after a bad Friday, the leading investors showed some bounce back, led by Ferrovial (+10%) and MAp (+9.5%), each regaining more than the previous loss.
And Beijing Capital International Airport showed strongly following good traffic results and its announcement that it was to acquire a 60% interest in Beijing Bowei Airport Support Limited in early 2009. On completion of the acquisition, Beijing Bowei Airport Support Limited will become a subsidiary of the parent company.
Selected airports daily share price movements (% change): 08-Dec-08