A huge fire at a major Smurfit Kappa Group plc packaging plant overnight sent its shares tumbling soon after the market opened on Monday.
Over 30 fire engines were needed to put out the blaze that destroyed paper and cardboard bales in Birmingham, according to reports.
There were no casualties or reports of a potential cause at one of the Irish company’s two UK paper mills.
It usually produces 500-700 tonnes of packaging paper per day, which is then converted to cardboard boxes.
The FTSE 100-listed paper and packaging firm lost 3.4% in value on Monday morning to 2,857p.