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.
The main European stock markets were down in the week from the 27th to the 31st of January 2014 (Milan +0.3%, London -2.3%, Frankfurt -0.9%, Paris +0.1%, Madrid +0.5%). Tensions on the Emerging Markets exchange rates after the drop that the Argentina Peso, the Turkish Lira and the Russian Rublo experienced.
Auto & Parts sector was down (-0.9% the Stoxx reference): according to ACEA the European auto market, after 6 years of consecutive declines, is now forecasted at +2%.
Pirelli closed the week at €11.96 (-2.3%), broadly in line with peers, with an average trading volume of 4.8 million shares per day (+48% vs ast month average). Consensus target price stood at 12.3€ with 83% of analysts advising to Buy or Hold the shares.