Rational Stock Drops as Currency Shift Reduces Earnings
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Rational AG, the supplier of automated cookers for Queen Elizabeth II’s Buckingham Palace kitchen, fell the most in almost five years after shifts in exchange rates dragged first-half profit down 6 percent.
Rational plunged as much as 18 percent to 202.60 euros, the steepest intraday drop since October 2008, and was trading 16 percent lower at 10:51 a.m. in Frankfurt, valuing the stovemaker at 2.34 billion euros ($3.01 billion). Volume exceeded five times the three-month daily average.