Lower long rates drive Macquarie Atlas Road shares
Shares in global toll road developer and operator, Macquarie Atlas Roads (MQA), rose in July, as did many other ‘bond-sensitive’ stocks. This was driven by lower long rates (global bond yields for 10-year sovereign bonds) following the Brexit vote and speculation of further easing in monetary policy globally.
MQA announced its traffic volume and revenue for the June quarter, reporting solid growth for each of its key roads, the APRR in France and Dulles Greenway in the US. MQA and Macquarie Bank, the manager of the vehicle, have also agreed to revise the base management fee, resulting in savings to MQA of approximately $14m per annum.
View July 2016 reports
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