Shares in French dairy giant Danone slumped 6% last week, after the company posted a weaker than expected set of half year results and said profit margins were likely to shrink due to COVID-19-related costs.

Last week, Danone posted half year results, which showed a 6% decline in like-for-like sales during the second quarter of the year to €5.9bn, as sales volumes slumped 3%. This was mostly driven by a 28% collapse in sales of bottled water during the lockdown period.