ARCHIVE

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.

Share to Facebook Share to Linkedin Share to Twitter More...

PEERS & MARKETS

European stock markets were down in the week from the 22nd to the 26th of October 2012 (Milan -1.7%, London -1.5%, Frankfurt -2%, Paris -2%, Madrid -1.7%). Market sentiment weakened due to poor EU manufacturing data – PMI Euro area contracted, as well as Germany IFO, down for 6 straight months – as well as Q3 results below expectations for a number of global Blue Chip companies; Chemical stocks (-2.2%) and Telecoms (-3%) lagged other sectors during the week.

Auto & Parts stocks edged down as well (-2.2% in the week) following disappointing Q3 results and lowered 2012 targets for several Auto and Component makers; broker Goldman Sachs, moreover, lowered its global light vehicle production estimates for the years 2012-2014 (new estimates: +4.9% in 2012, +2.8% in 2013, +5% in 2014).

European tyre stocks advanced in the week, outperforming the overall market. Pirelli ended the week at €8.53, up 1.5 percentage points with a daily average traded volume of approximately 2.6 million shares. Average Target Price was unchanged in the week at €10.3 (20% above Friday’s close price), as well as the percentage of analysts with a positive recommendation on the stock, 92% of total.


Write a comment »

Insert a comment 

Comment form

CAPTCHA image

Pirelli values your privacy. The information you submit is subject to our privacy policy in accordance with the Italian privacy law (art. 13 - D.Lgs. 196/03).