Shares in Carnival plc, the British holding company in the Carnival Corp & plc group, continued to fall in early London trade today after a volatile session on Tuesday, following a profit warming by group that is the largest cruise shipping company in the world.

At 1100 am local time, Carnival plc shares traded at 2.4% lower at £22.13.

Last night, cruise industry analyst Robin Farley at UBS in New York downgraded Carnival to neutral from buy after the profit warning, mainly triggered by problems at its Carnival Cruise Lines mass market unit in the US.

Yesterday, Carnival plc closed 5.9% down at £22.67 after hitting session’s low of £20.17.

In New York, Carnival Corporation, which is the Panama domiciled but US headquartered constituent of the Carnival group, fell 4.2% to $33.82 in New York. Again, the closing price was off a session’s low at $32.92.

Trading was very heavy in both shares on Tuesday.