PEERS & MARKETS
European stock markets were mixed in the week from the 20th to the 24th of February (Milan -0.4%, London +0.5%, Frankfurt +0.2%, Paris +0.8%), on lower European GDP growth forecasts (GDP -0.3%, inflation 2.1%) and another Greece sovereign debt rating downgrade by Fitch (to C from CCC). Equities trading was also negatively affected by disappointing European PMI data, down to 49.7, signaling a contraction in economic activity (expectations of 50.8).
Auto & Parts stocks performed in line with the overall market (European sector index down 0.4%).
Tyre stocks recorded losses in the week: Pirelli was down 2.9% at €7.925, similarly to Michelin (-3%) and Nokian (-1%).
Categories: Peers & Markets Pirelli