Brunello Cucinelli, the Italian designer who built a decades-old clothing empire on a foundation of cashmere, is suddenly having a rough go of it in the stock market. His company's shares are down 24 percent this year on the Borsa Italiana, while Bloomberg Indexes' Global Luxury Goods index is down 6.2 percent. Now the company is appealing to investors with a 40 million euro ($56 million) infusion of six new stores in five countries and a new men’s suit collection. Dandy, you say.
Borsa Italiana SpA said Massimo Tononi was appointed a non-executive director of the company’s board. Tononi is a former partner and managing director at the investment banking division of Goldman Sachs.
Prada SpA, the fashion house known for its Miu Miu bags and Church’s shoes, is planning the largest initial public offering of a family-owned Italian company since 2006. Investors in Prada’s hometown of Milan will have to reach about 5,800 miles away to buy the stock.
When Caroline Silver helped negotiate a $2.2 billion price for the London Metal Exchange last year, she woke a moribund market for cross-border takeovers that may yield an $8.2 billion windfall for NYSE Euronext.
London Stock Exchange Group Plc , which operates the Milan stock exchange, suspended trading on Italy’s main stock market “due to a technical problem.” Earlier the exchange said Italy’s benchmark FTSE MIB Index isn’t updating due to a “data issue.”
Xavier Rolet , the chief executive officer of London Stock Exchange Group Plc, has started overhauling the 209-year-old bourse’s technology, stemmed a slide in market share and helped spur a rebound in the stock -- all in less than two years on the job.
The U.S. Commodity Futures Trading Commission, facing an Oct. 12 start date for a slate of derivatives rules, is being bombarded with requests from lobbying groups to ease or delay the Dodd-Frank Act measures.