Porsche shares rise on first trading day in €75bn stock market float

German carmaker Volkswagen lists 12.5% of Porsche shares to raise billions to invest in electric cars

Porsche shares have risen on their first day of trading as the sports carmaker shrugged off a worsening global economy in a 75bn (67bn) stock market float, the largest European listing for more than a decade.

The shares were issued at 82.50 on the Frankfurt stock exchange on Thursday, before rising in value to 86.30 by late morning.