Royal Mail shares drop on FTSE 100 debut

On its first day in the FTSE 100, Royal Mail shares are failing to deliver.

After hitting a fresh record high of 605p on Friday, Royal Mail is today the FTSE 100's biggest faller.

Sunny Dhanjal, senior trader at Accendo Markets, says that "could be the result of profit taking ahead of the Christmas break."

Perhaps investors are just worried that Santa won't need any help delivering presents this year.

Shares are nonetheless up 83 per cent from their listing price.