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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

Major international stock exchanges were mixed in the week from July 2nd to 6th of July 2012 (Milan -3.8%, London +1.6%, Frankfurt -0.1%, -0.9% Paris, Madrid -5.1%). Despite the cut in official interest rates by Central Banks of Europe and China (-25bps, Bank of China has made the second cut in a month) markets was affected by fears of a worsening in the macroeconomic environment. The President of the ECB, Draghi, during the press conference on Thursday (July 5) showed that economic growth in the euro area remains weak; the picture is worse than just a month ago since growth across the euro area is weakening, including countries that before were continuing to grow.

Negative newsflow affected Bank stocks: the reference Stoxx was down by 1 .4%. Brokers were expecting a new financing plan (LTRO3, Long term refinancing operation)  but according to the President of ECB this will not be taken into account in the short term.

Auto&Parts sector was positive by 1.4%.

Pirelli ended the week virtually unchanged at € 8,265 (-0.4%) with an average daily trading volume about three million units. Pirelli stock is still among the top 4 best performer in the FTSE MIB YTD: +27.1% (+36.1 pp vs FTSE MIB).


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