Vinci shares slump on Roissy disaster

24th May 2004, Comments 0 comments

PARIS, May 24 (AFP) - The price of shares in Vinci construction group fell sharply in early trading here on Monday in response to the collapse of part of an airport terminal at Paris Roissy Charles de Gaulle airport.

PARIS, May 24 (AFP) - The price of shares in Vinci construction group fell sharply in early trading here on Monday in response to the collapse of part of an airport terminal at Paris Roissy Charles de Gaulle airport.

Vinci shares were showing a loss of 4.53 percent to EUR 77. Shares in Air France airline, a principal user of the airport, fell initially but were later showing a gain of 0.55 percent to EUR 12.88.

Traders said that investors were concerned that Sunday's accident, resulting in the deaths of four people according to the latest casualty estimate, apparently involved failure of the structure which Vinci built.

Vinci is one of the biggest construction groups in the world.

Meanwhile the company which operates the airport, Aeroports de Paris (ADP), said that if necessary it would demolish the whole of the terminal affected, terminal 2E.

A stock trader at one brokerage, who declined to be named, said: "It is the accident at the Paris-Charles de Gaulle airport at the weekend which is weighing on Vinci shares because GTM, a Vinci subsidiary, built the terminal."


© AFP

Subject: French news

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