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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Waiting for Bernanke’ speech in Jackson Hole last Friday and for possible Fed’s intervention to help US economy (which in 2Q 2011 grew by +1.0% against the previous estimate of +1.3%), markets experienced a general recovery (Milan +1.4%, London +1.8%, Paris 2.3%, Frankfurt +1.0%).

It was a positive week for the Auto & Parts sector: the sector index recovered partly (+2.5%) the performance experienced in the last month (-28.6%) due to negative market expectations. Within the sector tire stocks performed better than cars ones because of their defensive nature (replacement represents more than 70% of sales): Pirelli (5.25€ as off August 26) lost 13% from January (in line as peers like Michelin), while Fiat Auto (-38%), Renault (-39%) and Daimler (-30%) experienced bigger losses.

Analysts’ view on Pirelli stock remains positive: 88% Buy recommendations and a mean consensus TP of 8.67€, in line with the one of July.

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