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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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PEERS & MARKETS

The week from 12th to 16th March was positive for the main European stock markets (+3.7% Milan, London +1.3%, +4.0% Frankfurt, Paris +3.1%) driven upward by the release of the first tranche of aid to Greece from the EU and the positive macroeconomic newsflow. The Chairman of the Fed confirmed the willingness to keep interest rates low until 2014 despite the progress observed in the labor market and the better-than-expected US leading macroeconomic indicators (employment, consumer confidence, industrial production).

Another good performance of the Auto & Parts sector with an increase of +2.5% along with Industrials (+4.0%) and Banks (+5.3%).

Pirelli, after the publication of the annual results, ended the week up by +15.0% at 8.99€ with an average daily traded volumes of more than 12 million pieces, about three times higher than last quarter.

According to analysts reports, Pirelli closes the year with a “good set of results” in line with expectations. The upward revision of guidance on profitability surprised the market by offering room for upside to consensus.  The new targets, according to analysts, adds credibility to the business plan 2012-2014.

10 brokers have revised upward the valuation on the stock (TP) by an average of EUR +1.2. The consensus Target Price is now at € 9.70 with over 90% of coverage with positive recommendations.

Categories: Pirelli Pirelli Tyre


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PEERS & MARKETS

European stock markets were mixed in the week from the 20th to the 24th of February (Milan -0.4%, London +0.5%, Frankfurt +0.2%, Paris +0.8%), on lower European GDP growth forecasts (GDP -0.3%, inflation 2.1%) and another Greece sovereign debt rating downgrade by Fitch (to C from CCC). Equities trading was also negatively affected by disappointing European PMI data, down to 49.7, signaling a contraction in economic activity (expectations of 50.8).

Auto & Parts stocks performed in line with the overall market (European sector index down 0.4%).

Tyre stocks recorded losses in the week: Pirelli was down 2.9% at €7.925, similarly to Michelin (-3%) and Nokian (-1%).


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PEERS & MARKETS

Positive week for the main European stock markets (Milan +1.1%, London +0.9%, Frankfurt +2.3%, Paris +2%) the one from the 13th to 17th of February. Markets were positively influenced by the expectation of a close agreement between the European Union and Greece.
European Auto & Parts sector was positive (+2.9% the sector index) amplifying the positive macroeconomic news flow.
Pirelli closed the week at €8.16 (+8.9%), outperforming the sector (+6.0pp) and its main peers (+4.2pp vs Continental, +7.7pp vs Michelin, +6.3pp vs Nokian). The stock benefited from an upgrade by Intermonte (Overweight to Buy) with a Target Price of €11 (€9.0 the previous valuation).


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