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Legardere and Hellenic Duty Free shares dip

Shares in Lagardere fell 3% in trading on Monday. The company’s French publishing business announced that it would sell the rights to 102 magazine titles in 15 countries to Hearst for GBP651million. Legardere's Services unit operates extensive airport retail outlets.

Lagardere also stated that it is confident of being cleared of allegations of insider trading linked to the sale of EADS. The company expects the case, under French jurisdiction, to be cleared in over a year. The company holds a 7.5% stake in EADS.

Elsewhere, shares were generally lower for airport suppliers, with Hellenic Duty Free falling 2.6% and Japan Airport Terminal also down (-2.6%). Positive momentum was shown by DO & CO.

Selected airport suppliers daily share price movements (% change): 31-Jan-2011

Airport Suppliers