Milan's stock market showed significant, and hopeful, strength when the market debuted the luxury notebook producer Moleskine. Despite a broad index down 0.5%, Moleskine has stayed up since its debut and is doing well enough to give hope that the rest of Italy's market (and economy) will follow suit.
Shares in luxury notebook maker Moleskine rose in their market debut in Milan on Wednesday, defying broad market weakness in this year’s first major stock listing in crisis-hit Italy.
The maker of notebooks based on originals used by Ernest Hemingway and Bruce Chatwin is the first company to join the main Milan stock market since the listing of cashmere brand Brunello Cucinelli nearly a year ago.
Shares in Moleskine rose nearly 3% in early trading, outperforming Italy’s broad share index, which was down 0.5%, underlining investor interest in brands that appeal to style-conscious consumers.