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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

The week from January, 28 to February, 1st was mixed  for major European stock markets (London +1%, Frankfurt -0.3%, Paris -0.1%). After a good start (Fitch removed negative outlook on U.S. debt), data on U.S. GDP contraction in Q4 (-0.1% versus expectations of +1.1%, the worst quarter since 2Q2009) and retail sales in Germany in December (-4.7% yoy in December, lower than expected) drove the markets into negative. Sales of stocks were more pronounced on the peripheral Stock Exchanges as Milan (-2.3%) and Madrid (-5.7%) suffered from the performance of the banking sector.

Almost unchanged European Auto&Parts sector (-0.1% Stoxx Auto) waiting for the full start of the reporting season 4Q FY 2012.

Pirelli closed the week at 9.06€, -1.8%, in line with peers following profit-taking after a YTD performance of 6.6%. Average daily trading volume was about 2.6 million units. SocGen has revised the rating on Pirelli 9.9 € (9.7 €) changing the rating to Hold (from Buy) following the limited upside after the last 12 months rally (+21%). The consensus stands at 9.9 € with 46% of the coverage (25 analysts) with Buy rating.


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