Shares in London-listed DP Eurasia fell more than 13 per cent in trading this morning as investors lost the taste for the owner of the Turkey Domino’s Pizza franchise.
The stock market plunge comes as Turkey is gripped by a currency crisis that has seen the lira fall to record lows.
Read more: Turkish President Erdogan says collapse in lira a plot against the country
DP Eurasia is the master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
It is the largest pizza delivery company in Turkey with 514 stores in the country.
Other stocks with links to Turkey have been hit today including travel companies Tui and Thomas Cook which were hit by respective 2.8 per cent and 2.11 per cent share price falls and budget airline Easyjet which saw its share price fall by more than one per cent.
The lira has lost more than 40 per cent of its value in recent months as fears grow about the government’s handling of the economy and a diplomatic spat with the US reaches new heights.
Read more: Turkish lira drops to new record low overnight
David Cheetham, chief market analyst at Xtb online trading, said “The attempts by Turkey to halt the demise of the Lira and the country’s soaring bond yields has proven inadequate thus far.”
He added: “The longer this goes on without concrete steps being taken towards an amicable solution the greater the risk of contagion.”
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