Shares in Danone fell 3 per cent on Monday after the French food group said it was suspending investments in Russia and had closed one of its two factories in Ukraine, following Russia’s invasion of the country.

However, the world’s largest yoghurt maker, which announced the measures on Sunday, said it would continue to sell dairy and baby food in Russia, its third largest market after France and Spain.

Danone’s new chief executive Antoine de Saint-Affrique was among French bosses who met with president Emmanuel Macron on Friday to discuss the situation in Ukraine, a company spokesman said on Monday, adding it was too early to assess the financial impact of the decisions announced on Sunday.

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