FCA opens up 2.7 percent in Milan in market debut

Shares in carmaker Fiat Chrysler Automobiles (FCA) opened 2.7 percent higher on the Milan bourse on Monday, their first day of trading as a newly-merged company.

Fiat completed the buyout of its U.S. unit Chrysler this year and is now incorporating all of its businesses under Dutch-registered FCA, which will have a UK fiscal domicile and London headquarters, with operations centers in Turin and Detroit

FCA also made its debut on Wall Street, where it will have its primary listing, opening at $9.0.

At 1349 GMT (0949 EDT), FCA was up 2.4 percent at 7.1 euros in Milan. The Milan and New York opening were benchmarked against the Friday closing price for the predecessor company Fiat of 6.94 euros ($8.7).