Menzies Group shares lost 8.5% yesterday, the second consecutive day of decline, despite a trading update with a positive outlook for 4Q2010 and the company’s full-year results. The company’s shares hit a 36-month high early this month, before dropping 7.4% on Tuesday. Menzies’ management expects 2010 profit to match earlier forecasts, partly thanks to a recovery in its aviation businesses.
Also dropping sharply were BBA Aviation, which lost 5.5%, and Meggit, which dropped 4.3%.
Selected Original Equipment Manufacturers daily share price movements (% change): 17-Nov-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 17-Nov-2010