Main European stock indexes were down in the week from 8 to 12 October 2012 (Milan -2.3%, London -1.3%, Frankfurt -2.2%, -2% Paris, Madrid -3.8%). Despite the improvement in U.S. unemployment data (jobless claims -30,000), markets were affected by renewed economic growth fears following the cut on China growth estimates by the World Bank (+7.7% vs. +8.2 for 2012 % the previous year) and the downward revision of global estimates by the International Monetary Fund (+3.3% in 2012 vs. +3.5% expected in July).
Similar trend for European Auto&Parts sector (-2.4% Stoxx Auto) as the auto production could further slow down in the second half of 2012.
Pirelli ended the week at € 8,695 (-2.5%) in line with the reference sector. Average daily trading volume was Just over two million. Due to a +33.7% performance year-to-date, Pirelli stock is still one of the top 10 Blue Chip on FTSE Mib.