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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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PEERS & MARKETS

European stock markets were up in the week, particularly in Southern Europe (London +0.6%, Frankfurt +0.5%, Paris +0.1%, Milan +2%, Madrid +2.3%). There were several important policy meetings in the week, with the objective to stimulate global growth. The G20 summit increased the European IMF firewall fund to 456 billion dollars, and leaders promised actions for growth and employment. The Fed, in turn, strengthened “operation twist” up to 267 billion dollars, aiding short term interest rates, whereas Italy, Germany, France and Spain proposed aids for 130 billion euros as well as a European banking union and a tax on financial transactions.

Upward trend for Auto & Parts stocks (+1.2%), after being the worst performing sector among European equities over the last month (-8% vs Stoxx 600 +0.7%).

Pirelli closes the week up 3.6% at €8.1; average daily traded volume was 3.3 million stocks. In the sector report published this week, Goldman Sachs has turned more cautious on the tyre sector, assuming European volumes down 6% in 2012. Brokers Exane and Equita, too, forecast declining volume in the year, but the analysts agree that the positive raw material trend, as well as the firm pricing in the Premium segment will be able to protect sector profitability.


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