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Macquarie Airports’ upward trend comes to an end, proceeds with internalisation plan

Australia’s Macquarie Airports’ (MAp) shares ended their recent upward trend yesterday, closing down 1.4%.

In the latest development in the investment fund’s internalisation plan, the NSW Supreme Court rejected an application to block MAp from proceeding with its plan to purchase management rights from parent, Macquarie Group, for AUD345 million. Global Airports has withdrawn its bid for MAp’s management rights.

Airport shares worldwide showed mixed trading yesterday. Italian airport operators, Aeroporto di Venezia and Aeroporto Toscano, were the standouts, soaring 14.9% and 8.9%, respectively.

Meanwhile, Spainish infrastructure firm, Abertis, closed down 1.4%. Abertis' Board of Directors have agreed to the payment of a 2009 interim dividend payment of EUR 30 cents for all shares with dividend rights.

Selected airports daily share price movements (% change): 29-Sep-2009