Shares in European football giant Juventus fell more than 17 per cent
after the club crashed out of the Champions League.
Around £245million was wiped off the value of Italy’s most
successful club as investors reacted with shock to its exit in the
quarter-finals.
On a dramatic night
in Turin, Juventus lost 2-1 to Ajax Amsterdam, taking the Dutch club through to
the semi-final 3-2 on aggregate.
Juventus, whose
star-studded team includes Cristiano Ronaldo, were hot favourites to progress
in Europe’s premier club competition
Juventus, whose
star-studded team includes Cristiano Ronaldo, were hot favourites to progress
in Europe’s premier club competition.
The team have won
the trophy twice, in 1985 and 1996, and were finalists as recently as 2015 and
2017.
Shares hit a record
high of €1.71 in the days leading up to the game with Ajax, valuing Juventus at
£1.5billion, as investors bet on a victory. But they closed at €1.39, valuing
it at £1.2billion.
Shares in Ajax rose
9 per cent to an all-time high of €18.70, valuing the club at £295million.
Victory in Turin
for Ajax followed the defeat of last year’s winners, Real Madrid, in the previous
round.
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