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Jimmy Choo shares closely watched amid market jitters

2014-10-17 25 Dailymotion

Luxury shoemaker Jimmy Choo has stepped out into the London stock market with its shares closely watched on their first day of trading. <br /><br />They did not jump, but they did not stumble either, staying close to the 141 pence opening price.<br /><br />The interest from even the least fashion-conscious of bankers is because it is being seen as a test of whether upcoming share offerings can withstand the economic weakness that has roiled markets in recent days.<br /><br />There has been a flurry of cancelled listings across Europe, including British bank Aldermore, the French energy services company Spie and Italian cosmetics maker Intercos.<br /><br />Jimmy Choo is in one of the strongest segments of the luxury goods industry, prompting Singaporean sovereign wealth fund GIC to take a 4.6 percent stake.<br /><br />However, its growth potential has been presented to investors as hinging partly on expansion in China, where rivals Prada and LVMH have been hit by weakening demand in recent months.<br /><br />Such concerns over global growth, including a string of weak German data, have dragged down equity markets in recent weeks.<br /><br />with Reuters

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