Swine flu pandemic declared. Mexican airport shares surge, Chinese airports take a dive – Share Wrap
It's official, the world is suffering from its worst economic downturn in 70 years and its first global flu pandemic in 40 years. The World Health Organisation (WHO) last night raised the influenza A(H1N1) infection pandemic alert level from Phase 5 to maximum Phase 6. Shares in airport operators GAP and OMA at swine flu central, Mexico, rose 7.4% and 9.8% respectively yesterday, whereas airports devastated by the SARS outbreak in North Asia all fell back.
Mexican stocks have continued a week-long rally on positive economic figures and market sentiment that tourism traffic to the country will rebound after the outbreak of swine influenza. Earlier in the week, OMA appointed a new CEO and CFO. GAP and OMA reported 50%+ declines in international traffic last month.
Chinese Mainland airports reported generally lower shares prices yesterday. Shenzhen Airport dropped most, down 2.8%, with Guangzhou Baiyun down 2.4%, Beijing and Shanghai down 2.0% and Xiamen falling 0.8%. Hong Kong's cargo volumes showed continued weakness in May, while the CAAC East China Regional Administration reported cargo continues to suffer at its airports, including Shanghai:
- Shanghai Pudong: 2.7 million, +14.4%;
- Shanghai Hongqiao: 2.2 million, +14.3%;
- Xiamen: 899,081, +20.4%.
- Shanghai Pudong: 185,500 tonnes, -17.7%;
- Shanghai Hongqiao: 34,466 tonnes, -8.3%;
- Xiamen: 17,452 tonnes, -3.8%.
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Selected airports daily share price movements (% change): 11-Jun-09