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.