Ferrari's shares rose 8.5% on its first day on the New York Stock Exchange yesterday (Wednesday).

Owner Fiat Chrysler sold 10% of the shares in the Italian sports car maker at $52 each. The share sale raised $893.1 million (£578m).

Shares had grown 15% to $60 during trading, valuing Ferrari at around $10 billion.

Fiat Chrysler now owns 80% of Ferrari, with the Ferrari family owning the remaining 10%. Fiat Chrysler shares dropped 4%.