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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

European stock markets were up in the week from the 11th to the 15th of June, 2012 (London +0.8%, Frankfurt +1.6%, Paris +1.2%, Madrid +2.5%), thanks to the agreement on European aid to the Spanish banking system and the statement by the ECB President, confirming the intention to provide funding to financial institutions.

Bank stocks were up, also thanks to short covering (European index +1.8%), whereas the Auto & Parts sector ended the week down 2.8%, due to macro uncertainties.

Pirelli closes the week at €7.815 (-1.9%), with 3.4 million shares traded per day, on average. The acquisition of Dackia was positively welcomed by the market; according to Banca Aletti the agreement is strategically significant since it allows for a better coverage of the Nordics market, structurally oriented towards the profitable winter tyre segment. Moreover, according to Morgan Stanley’s research piece on the Essen Tyre Show, Pirelli is best positioned among European tyre makers to take advantage of the upcoming tyre labeling regulation, along with the surprisingly well ranked Emerging Markets producers.


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PEERS & MARKETS

The main European stock Exchanges were up in the week from the 4th to 8th of June 2012 (+5.5% Milan, Frankfurt +1.3%, London +2.6%, +3.4% Paris). The market sentiment benefitted from the statements of the ECB Governor about the availability of the Institution to provide unlimited liquidity to the banking sector through January 2013. Trading was also supported by the successful auction of Spanish Bonos (7 June, demand exceeding supply 3.3 times) and by the cutting of interest rates in China to 3.25% from the previous 3.50% (first cut since 2008 ).

The newsflow about monetary policies pushed Bank stocks. The European Sector Index was up 7%.

After a weak start due to fears of macroeconomic downturn, the Auto & Parts sector recovered to a final +0.6% (Stoxx Auto).

Pirelli ended the week at €7,965, 2.8pp better than the sector. Just over 2.8 million the average daily trading volume.


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PEERS & MARKETS

PEERS&MARKETS 5.07-09.07.10Evident signs of recovery on the international financial markets in the week 5 to 9 July, with rises of up to 10 percentage points, particularly in the finance sector. Buying has been fuelled by leaks about the stress tests of the European Union on the major banking groups, which should not show deficits (+9.6% European bank index), higher global growth forecasts for 2010 from the IMF (4.6%, compared to the previous figure of 4.2%), and the ECB decision to not change the lending rate.
Pirelli closed the week at €0.477, a rise of 7.4%, clearly outperforming the sector index  (+2.2 percentage points compared to DJ Stoxx Auto). Trading volumes were lower (35 million shares, about half the daily average of the last three months), but in line with the overall dynamics of the market. The buy recommendation on the share by a majority of analysts was confirmed (83% Buy). The consensus target price was stable at  €0.53.
Pirelli RE recovered decisively, rising to €0.36, with market performance of 11.6%, the best in the Italian Real Estate sector.

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