Severe drawback on major international stock markets on the week of March 14-18 (Milan -3%, London -1.9%, Frankfurt -4.5%, Paris -3%, Tokyo -10.2%) primarily reflecting the nuclear threat in Japan after the strong earthquake and the potential impact on the global economic system.
Fear on the situation in Libya that continues to unravel also reflected negatively on the market and oil prices hit new highs (prices on March 18: Brent around $114, WTI at $101).
Pirelli ends the week at € 5.93, a drop of 1.9%, but contained losses compared to the European index (-3.4% Stoxx Auto&Parts) and the sector. A daily average of 5 mln shares were exchanged.
Moreover, RBS confirms the BUY rating on the stock with a TP of €8.