Spotify Rival Deezer shares fall in trade debut

PARIS—Shares of French music streaming service Deezer fell on their first day of trading, a further sign of the difficult environment faced by startups and loss-making companies.

The Parisian competitor of music streaming services including Spotify Technology SA saw its shares fall by more than a quarter on Tuesday, the company’s first day on the Paris Stock Exchange. The plunge, down more than 30% at one point, came after the company reached a SPAC deal in April, valuing it at around $1.1 billion.