MILAN Jan 9 Shares in Italian luxury shoemaker
Tod's were suspended from trading on Thursday after the
stock fell 4.97 percent, a drop which a Milan-based trader
attributed to a downgrade by investment bank Merrill Lynch
"The stock was downgraded...by Merrill," the trader said,
adding this was the reason for the price fall.
Shares in the maker of 300-400 euro leather loafers returned
to trading after regaining some lost ground, to be quoted 4.5
percent down at 109.50 euros ($150) at 0828 GMT.
Milan's main index was broadly flat, but luxury
stocks were among the losers. Leather group Salvatore Ferragamo
dropped 2.8 percent in early trade and cashmere maker
Brunello Cucinelli lost 3.2 percent.