Shares in toll road asset manager, Macquarie Atlas Roads (ASX:MQA), performed strongly during May.
There were three key drivers for the stock:
- the election of Emmanuel Macron as French President was a positive as it removes the potential political risk around the asset and should stimulate economic growth if he delivers on his reform platform
- the strengthening of the Euro against the Australian dollar assisted the translation of the value of the asset for domestic shareholders, and
- the decline in bond yields during May have also been supportive of infrastructure assets.
Macquarie Atlas Roads' principal asset is the APRR toll road located in France. (VIEW LINK)