European delivery rivals slump after FedEx profit warning
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Shares of European delivery firms skidded Friday morning after a profit warning from FedEx
FDX,
Royal Mail
RMG,
shares skidded 10% in London, while DHL owner Deutsche Post
DPW,
stock slid 7% in Frankfurt. FedEx blamed “macroeconomic weakness” in Asia and “service challenges” in Europe for a $500 million revenue shortfall in these regions.
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