Italy’s Moleskine fails to sparkle on market debut

Shares in upmarket notebook maker Moleskine made a lacklustre debut in Milan as growth concerns and broad market weakness weighed on 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 closed 0.9 per cent below their issue price at 2.28 euros, though Italy’s all-share index fared worse, losing 2.1 per cent.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1206929/italys-moleskine-fails-sparkle-market-debut