Dixons Carphone dives after Samsung pulls Note 7

Dixons Carphone today sank to the bottom of the Footsie 100 as investors in the mobile phones retailer fear the impact of Samsung stopping all sales of its flagship new Galaxy Note 7.

The South Korean manufacturer also warned customers to switch off the smartphone as it investigates new reports of the device catching fire.

Dixons Carphone, which in the UK has an agreement with Samsung to repair phones without voiding their warranties, will see Samsung’s major Note 7 warning affect many of its brands across Europe.

These include the UK’s Carphone Warehouse and Currys PC World, Elkjøp Phonehouse, and Elgiganten Phone House in the Nordic countries, and Phone House in Spain.

Dixons Carphone, run by Seb James, a close friend of ex-Prime Minister David Cameron, has already seen its shares smashed by the Brexit vote.

After the referendum the retailer, which employs 42,000 people in 11 countries, saw its share price fall by almost a quarter from 368.2p on June 23 to 280.1p by July 6.

Today the shares slipped 2.6p to 335.3p.