Shares in speciality bakery group Aryzta have lost more than a quarter of their value in the last week, as market fears around the company’s debt profile continue to build. Aryzta shares took a hammering this week, falling by more than 26% to a new low of €9.03.

Aryzta shares have now lost almost 75% of their value since the start of 2018, when prices were at €33.

The latest weakening in Aryzta shares came after market analysts said the group would need to raise fresh capital in order to offset its current net debts of €1.6bn.

Analysts also warned that rising grain prices due to the current heatwave in Europe, coupled with the continued high price for butter, would result in significantly higher raw material costs for the bakery giant.

Pressure on the market

Elsewhere, shares in insurance group FBD Holdings were also under pressure this week. FBD shares dropped more than 4% in trading this week below €9.90, despite the group recently announcing a 70% increase in half-year profits.

Shares in agri-services group Origin Enterprises were also down, falling by 8% during the week to €5.60. Donegal Investment Group was also back this week, with shares falling almost 2% to €9.60.