Oct 2, 2018

Shares in Royal Mail plummet 24% in 2 days

Shares in Royal Mail extended their losses on Tuesday, bringing their fall to almost a quarter over two days following a profit warning that rattled investors late in Monday's trading session. Under the deal, Royal Mail committed to reducing working hours in exchange for changes to work practices. "Royal Mail has seen a share price collapse which makes it a prime candidate for relegation from the FTSE 100 next time a reshuffle takes place in December," said Laith Khalaf, analyst at Hargreaves Lansdown. While the source of the problems is Royal Mail's main UK business, the group also revealed that even GLS, its international parcels business, was feeling pressure. Though Royal Mail said its dividend would be unaffected, some analysts were not so sure.

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