archiveWEAR

Oct 11 (Reuters) - Birkenstock's (BIRK.N) stock ended more than 12% below its initial public offering (IPO) price on Wednesday in an underwhelming Wall Street debut that signaled investors remain cautious about new listings.Shares of the 250-year-old German sandal maker started trading at $41 after the IPO had priced at $46. That offering raised $1.48 billion, priced at the midpoint of the indicated range of $44 and $49 on Tuesday. The stock closed at $40.20, down 12.61%.The 11% decline from Birkenstock's IPO price on Tuesday to its opening price on...

STOXX 600 down 0.6% in soft start to the weekRichemont slumps after organic sales growth disappointsWeak China data drags other luxury firmsArgenx jumps, helps Brussels stocks outshine EuropeJuly 17 (Reuters) - European shares fell on Monday as Richemont led a slide among luxury firms on weaker-than-expected organic sales growth and as lacklustre economic growth in China raised concerns about demand from the world's second-biggest economy.The pan-European STOXX 600 index (.STOXX) closed 0.6% lower, with luxury giants at the forefront of the selling pressure.Shares of the world's second-biggest luxury firm, Richemont...