11-15 April was a difficult week for the principal European markets (Milan -2.5%, London -1%, Frankfurt -0.5%, Paris, -2.2%). Prices reflected uncertainties due to the renewed fears about the debt of peripheral EU countries and data on inflation in China and Europe, which was higher than expected (5.4% and 2.7%).
At sector level, generalised sales across all industries, particularly banks (European reference index -3.2% ) which might resort to further recapitalisation initiatives, in view of the application of Basel 3 in 2013.
Pirelli closed the week with an unchanged price (€6.48, 0.0%) over performing the Milan stock exchange, its peers and the industry (Stoxx Auto&Parts –2.7%). Since announcing its 2010 results (8 March 2011), Pirelli shares have risen 9.8% (+11.3pp vs FTSE Mib, +10.1pp vs Stoxx Auto&Parts). The average number of daily trades was around 4 million.