Positive week for the main European stock markets (Milan +1.1%, London +0.9%, Frankfurt +2.3%, Paris +2%) the one from the 13th to 17th of February. Markets were positively influenced by the expectation of a close agreement between the European Union and Greece.
European Auto & Parts sector was positive (+2.9% the sector index) amplifying the positive macroeconomic news flow.
Pirelli closed the week at €8.16 (+8.9%), outperforming the sector (+6.0pp) and its main peers (+4.2pp vs Continental, +7.7pp vs Michelin, +6.3pp vs Nokian). The stock benefited from an upgrade by Intermonte (Overweight to Buy) with a Target Price of €11 (€9.0 the previous valuation).