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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The main European stock markets were slightly up in the week from the 14th to the 18th of July, with the exception of Madrid (Milan +0.6%, London +0.9%, Frankfurt +0.6%, Paris +0.4%, Madrid -0.1%), supporting the DJ Stoxx 600 index monthly performance (+0.8%).
Investors turned to Bank stocks (+1.2%), recovering after the considerable losses of the previous week (-4.1%), mainly thanks to the positive news flow from Banco Espirito Santo (possible capital raise from new shareholder).
The Auto&Parts sector closed the week down 0.3%, influenced by mixed news from the car market. Europe shows positive signals, the monthly ACEA report shows a positive trend of +4.3% in June, the tenth consecutive month of recovery; less encouraging news from South America, where car registrations are decreasing.
Pirelli shares closed the week at 11,50 € (-1.8%) with limited volumes (1.7 million shares on average per day, against a 3-month average of 2.4 million) in line with the most important European peers (Continental -1.7%). Credit Suisse has initiated coverage of the stock with a buy recommendation and a target price of 14.50€, mainly thanks to the excellent Pirelli positioning in the Premium segment.
Consensus target price is at 13.0 €/share with 85% of analysts advising to Buy or Hold the shares.

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