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.
Major European markets closed above parity the week from January 6th to 10th (Milan +2.4%, London +0.1%, Frankfurt +0.4%, Paris +0.1%, Madrid +5.0%), with bank stocks driving (Stoxx 600 Banks +4.7% vs +0.7% of the whole Europe Stoxx 600). In the ECB board meeting (with unchanged at 0.25% the interest rates) the president Mario Draghi warned against the end of the crisis, stating that “the ECB is ready to step in again if needed”. From the FOMC minutes it was clear that the “tapering” will continue up to December to reduce to zero the bond purchases (at the moment at $75bn / month).
Profit taking on Pirelli, which sets aside the week at €11.79 (-5.3% the week, +13.7% during last month and +45.3% in FY13), with 2.4 million stocks exchanged on average. Consensus Target Price related to the last 17 publications stands at €12.22 with 82% of the coverage with positive recommendations (Buy + Hold rating).