Strikes threat delivers stock market fall for Royal Mail

Royal Mail was among the heaviest fallers today after warning that four days of strikes planned for this month and the next would leave the delivery company “materially loss making” this year.

The FTSE 250 company said it had contingency plans in place to “minimise disruption and restore normal service as soon as possible” if the Communication Workers Union action took place on August 26 and 31, and September 8 and 9.

Shares in Royal Mail, which had enjoyed a parcel boom during the pandemic, fell as much as 3.7 per cent before trading down 4¾p, or 1.8 per cent, at 261¾p, extending the decline this year to almost 50 per cent.

The wider market was also struggling for momentum with the FTSE 100 flat,

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