Italian cashmere maker Cucinelli shares up 34 pct

MILAN - Shares in Italian cashmere specialist Brunello Cucinelli were 34 percent higher at 0725 GMT shortly after opening on their market debut in Milan on Friday, as strong demand in emerging markets for European luxury brands lures investors into the sector's stocks.

Cucinelli shares opened at 10.20 euros each, above the 7.75 euros at which the Umbria-based luxury house priced its 158 million euro ($208 million) initial public offering (IPO), at the very top of its indicative range.