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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

Major European stock markets were down in the week from November 12 to November 16, 2012 (Milan -2.1%, London -2.8%, Frankfurt -3.0%, -2.4% Paris, Madrid -0.6%) after disappointing U.S. macroeconomic data on industrial production in October (-0.4%, below expectations) and unemployment (Job claimnx were 22% more than the previous month). On the European side, the maturity of the Greek sovereign debt and German economic data showing a slowdown in GDP in the third quarter (+0.2% vs. +0.3% expected) continue to worry investors.

Auto&Parts stocks were down as well (-2.6% Stoxx reference) following October car registrations data in Europe still down compared to the same month of 2011 (-4.8%).

Pirelli closed the week at € 8,025 (-6.1%, +23.4% performance year to date) with an average daily trading volume of just over 3 million. The average target price updated after the results of the first 9 months of 2012 reported earlier this week, stands at  € 10 (+25% upside on the Friday closing price); 91% of the coverage with a positive recommendation on the title (57% Buy rating).


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1 news Tuesday, November 20th, 2012