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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In the week from the 21st to the 25th of July the main European stock markets showed diverging trends, positive for Milan, London and Madrid, negative for Frankfurt and Paris (Milan +1.6%, London +0.6%, Madrid +3.4%, Berlin -0.8%, Paris -0.1%), slightly up for the benchmark index DJ Stoxx 600 (+0.7%) .

German stocks, in particular, were affected by the decline in German Business Confidence, below market expectations.

Good trend for the Bank sector (+3.2%), recovering from the losses of the previous weeks, thanks to encouraging news regarding the second half of 2014.

Auto & Parts stocks, in line with other cyclical sectors, closed the week down (-0.9%) due to uncertainty on emerging markets while major players reported Q2 earnings.

Pirelli shares close the week at 11.62 (+1%) with limited volumes (1.7 million shares on average per day, against a 3-month average of 2.2 million) outperforming European peers (Continental +0.3%, Michelin -3.4% and Nokian -3.6%)

Consensus target stands at 13.0 €/share with 85% of analysts advising to Buy or Hold the shares.

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