Glanbia drops €550m in stock market value as international sales buffeted amid trade wars ‘setback’

The value of stock market-listed Glanbia dropped by €550m as its shares plunged by almost 16% after the Irish international food giant warned its sales outlook for the rest of the year had in part been ensnared by the global trade wars.

The decline to 11.80c was the worst day for the shares this year and, after trading close to €19 in March, the warning over the outlook marks the first major setback for group managing director executive Siobhán Talbot since she took over six years ago.