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Investor Channel is the communication channel between Pirelli and the financial community. Analysts, shareholders and web users can use the channel for direct dialogue with the Group. The blog is moderated by Pirelli Investor Relations.

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PEERS & MARKETS

The principal financial markets were up at the end of the week 11 to 15 October  (Milan +1.5%, London +0.8%, Frankfurt +3.2%, Paris +1.7%) buoyed by the prospect of new measures from the Federal Reserve to stimulate the economy.
At sector level, the highest price rises were in the Industrial (+3.3%) and Auto & Parts (+3.9%) sectors.
Pirelli shares performed particularly well, confirming their position among the best stocks on the market. +6.6% to €6.39. Pirelli outperformed the FTSE MIB (+5.1pp) and the European reference index for the industry (+2.7pp vs DJ STOXX Auto&Parts) once again claiming the position of best Blue Chip share of the week (+47.7pp YTD). Mean trading volumes were steady at around 5 million trades.
After the upgrade of the guidance on the full year 2010, 7 brokers (Intermonte, UBS, Chevreux, Equita, Banca Akros, Banca Leonardo, Exane) raised their valuation of Pirelli by an average of €0.07 with a Target Price di €7 . For Intermonte (Outperform a €7.60) Pirelli was able to bridge the gap in value compared to its peers thanks to a continued focus on tyres, and deserves to be traded at premium, given its business positioning. For UBS (BUY at €7) Pirelli’s positive momentum continued, with the presentation of a new industrial plan that is expected to provide good indications for future operational trends, disposals and the efficiency plan.
This was in contrast with its principal European peers: Michelin +4.4%, Continental +6.8%, Nokian -0.6%.
Pirelli RE closed the week at € 0.434, a fall of 7.6%.


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1 news Monday, October 18th, 2010