Shares in IPL Plastics (formerly one51) have dropped more than 7% in value in the last week and are currently trading at C$8.72. IPL Plastics shares are down more than 13% since the start of the year, when they were priced above C$10.

Irish co-ops, including Dairygold, Kerry and Lakeland, currently hold 20% of the company and have seen the value of their investment fall by a combined C$140m (€96m) since the start of the year.

In March, IPL reported net profits of C$1.8m for its 2018 financial year, which was a 90% collapse compared to profits made the previous year.

Rising prices

The company blamed rising resin prices along with increased distribution costs for the weaker performance despite increased revenues.

In other news, shares in Aryzta dropped 3% this week to €0.96, while shares in FBD Insurance are down more than 1%. Kerry Group shares are up almost 1% in the week to €104.60, while Glanbia shares were flat at €14.54.

On oil markets, the price of Brent crude oil is currently trading at just over $64/barrel.