STOCKWATCH Ferrovial sinks at opening on UK airport security concerns

STOCKWATCH Ferrovial sinks at opening on UK airport security concerns: "Ferrovial sinks at opening on UK airport security concerns

MADRID (AFX) - Shares in Grupo Ferrovial SA saw heavy losses at the opening on fears of the effect on their airport management business in London through BAA PLC after a major terrorist plot in the UK was thwarted by Scotland Yard, dealers said.

At 9.20 am, Ferrovial sunk 1.95 eur or 3.13 pct to 60.30, of lows of 59.25, on a volume of 358,000.

The IBEX slipped 141.0 eur to 11,770.2.

'Ferrovial's vested interest in airport management in the UK leaves it vulnerable to this kind of event, but the price fall is exaggerated and will probably settle to more normal levels through the day,' a trader at a local brokerage said.

Security at British airports was tightened and hand baggage banned from all flights leaving the country as the UK was placed on maximum terror alert after police said they foiled a terrorist plot to blow up several planes flying between Britain and the US."