Last week’s announcement by embattled bakery giant Aryzta to raise up to €800m in capital by issuing more shares did little to arrest investor concerns around the financial health of the company. Shares in Aryzta have fallen a further 7% in the last week, to fresh lows below €8.50.

Aryzta, the maker of Cuisine de France, has now lost 75% of its share value since the start of 2018, when shares were trading around the €33 mark.

Of the other listed agribusinesses in Ireland, there were also declines in the share price of Greencore (-3%), Glanbia (-1%), Total Produce (-2%) and Donegal Investment Group (-2%).

In contrast, shares in insurance group FBD Holdings rallied almost 9% this week to hit €10.75, after allegations made against chief executive Fiona Muldoon were “not upheld” following an independent investigation.

Elsewhere, shares in Kerry Group have rallied a further 2.5% this week above €96 for the first time.