Fraport passenger numbers rise in May despite Iran war, shares up

Fraport Frankfurt Airport Services Worldwide AG

Yesterday 07:39

** Shares of Fraport FRAG.DE are up 2.3% in early Frankfurt trading after the German airport operator reported slightly higher year-on-year passenger numbers for May
** "Improvement ... despite Iran conflict should act slightly positive," a local trader says
** Total passenger numbers at Fraport's actively managed airports increased to around 17.1 million in May, up nearly 2% from a year ago, the company says
** Jefferies says the stock's current valuation looks attractive, given boosts to free cash flow from higher pricing and lower expenditures; "We remain positive long-term," the broker says
** Fraport's share price has lost around a fifth of its value since mid-February

(Reporting by Danny Callaghan)
((danny.callaghan@thomsonreuters.com))