In the week from the 25th to the 29th of August the main European stock markets have showed a positive trend (Milan +2.7%, Frankfurt +1.4%, Paris +3.0%, Madrid +2.2%).
Investors reacted positively to the Mario Draghi speech of the 22nd of August about a possible BCE decision of launching a quantitative easing policy, similar to the USA one. The latter is aimed at stimulating the European economy which is currently at risk of stagnation. The second quarter GDP data of the three main countries are not positive, compared to the previous ones, Germany -0.2%, France +0.0% and Italy -0.2% (technically in recession being the second negative quarter consecutive).
Pirelli shares close the week at 11.63 (+1,8%) with average volumes of 1.8 million shares per day (last 3 month average: 2.1) outperforming European peers (Continental -0.5%, Michelin +2.0% and Nokian -3.7%)
Consensus target stands at 12.93 €/share with 86% of analysts advising to Buy or Hold the shares.