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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 international financial markets ended down the week fom 23 to 27 September, 2013 (Milan -1.8%, -1.3% London, Frankfurt -0.2%, Paris -0.4%). The debate on U.S. debt ceiling on which an agreement has not yet reached and the political tensions in Italy increased uncertainty among operators dragging down European markets. Among the sectors, the most affected were bank stocks with the reference European index (Stoxx Bank) down 1.7%.

Almost unchanged the European Auto & Parts sector (+0.1%).

Pirelli after having peaked at 10.2 €, ended on last week’s levels to €9.86 (-0.3%) discounting profit takings and the negative trend of the reference market; just over 2 million the average daily volume traded. Year to date the stock has gained 13.9%, +5.5 percentage points compared to the FTSE Mib.


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PEERS & MARKETS

European financial markets were up in the week from September 16 to 20, 2013 (Milan +2.4%, London +0.2%, Frankfurt +2%, Paris +2.2% $, Madrid +2.6%) thanks to the newsflow from Federal Reserve. The U.S. Central Bank has confirmed the expansionary monetary policy with an extension of its $85 billion-a-month asset purchase programme and interest rates at historic lows between 0% and 0.25%.

August  Car Registrations data weighted on Auto&Parts sector weekly performance which resulted slightly above parity (+0.2% Stoxx Auto): data showed a 5% drop compared to last year (-5.2% year to date).

Differently, Tyre stocks were up after Michelin and Goodyear updated their medium to long term targets; Pirelli ended the week at 9.89€, up by 4.3% (+14.3% performance year to date) with an average daily trading volume of about 1.9 million shares.

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PEERS & MARKETS

The main European stock markets advanced in the week from the 9th to the 13th of September 2013 (Milan +2.9%, London +0.6%, Frankfurt +2.8%, Paris +1.6%). While international diplomacy continued in its efforts to avoid a military intervention in Syria, good news came out of the main Asian economies: Chinese industrial production was up 10.4% in August, more than expected, and Japanese GDP expectations for Q2 2013 were revised upwards to 3.8% (previous estimate was +2.6%, both consumption and investments surprised on the upside).

Auto & Parts stocks were up during the week (+4.5% vs +1.8% for the Stoxx 600 index of European Blue Chips), helped by the positive tone of the main European premium OEMs at Frankfurt Motor Show. Tyre stocks advanced as well; according to HSBC’s analyst the market, following the positive signs given in August, should confirm the stabilization trend in September. The current trend in raw material prices, moreover, should help profitability in H1 20.14.

Pirelli closes the week at 9.48€, up 1.2% with an average of 1.4 million shares traded per day (in line with 4-week average).
Consensus Target Price is stable at 10.1€, with 45% of analysts advising to “Buy” the stock.


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