By and and  on June 29, 2011

Salvatore Ferragamo SpA couldn’t have timed its first day of trading on the Milan Stock Exchange much better.


Shares of the Florence-based fashion house closed with a flourish Wednesday, gaining 10.6 percent to 9.95 euros, or $14.23 at current exchange, reflecting both confidence in the luxury sector and the strength of equities throughout Europe as the Greek parliament approved a sweeping austerity program including spending cuts and tax increases. The vote in Athens significantly improved the likelihood of a rescue package from the European Union and allayed fears that the country could default, a source of discomfort throughout global equity markets all week.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus