DIRECTOR DEALS

ROYAL Mail’s chief executive Rico Back has bought more than half a million pounds’ worth of shares, in an effort to bolster the company’s sliding stock price.

The German, hired to lead Royal Mail last year, splashed out on 200,000 shares for around 207p each on Thursday. Later in the day he bought another 100,000, for 200p. Altogether Back coughed up £616,993.60 in total for the stock.

The company – which cut its dividend this week – climbed 6.4pc, or 12.7p, at 210.6p.