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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 weak in the week from March 11 to 15 (Milan -0.9%, London +0.1%, Frankfurt +0.7%, +0.1% Paris, Madrid -0.1%). The Italian political situation in stalemate and the resulting cut of Italy’s rating by Fitch (from A-to BBB + with a negative outlook) has fueled uncertainty among operators impinging on the European markets.

The downward revision of GDP estimates by Fitch compared to those published in December contributed also to slow market performances: +2.2% the 2013 global growth versus the previous estimate of +2.4% (Eurozone -0.5% vs. -0.1% previous).

​​Auto & Parts sector was down (-1.6%) following the disappointing data of vehicle registrations in February (-6.2% globally LMC reported) and some indications of increasing competition on the market which is likely to depress margins in first quarter of 2013 (Volkswagen).

Pirelli ended the week in which has been published the annual results  at € 8.39 (-4.6% after +4.3% recorded in the two sessions before the results) with an average daily trading volume of about 4 million shares. Financial data in line with consensus estimates but analysts took a cautious view  on the tyre sector for 2013 on the basis of market developments difficult to predict.


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