European delivery rivals slump after FedEx profit warning

Shares of European delivery firms skidded Friday morning after a profit warning from FedEx. Royal Mail shares skidded 10% in London, while DHL owner Deutsche Post 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.

-Steve Goldstein

(END) Dow Jones Newswires

09-16-22 0323ET

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