PEERS & MARKETS
The first week of trading in 2011 ended with a rising trend on all international stock markets apart Madrid and Athens (both –3%). Milan (+1.8%) and Paris (+1.6%) performed particularly well, with buying focussed on the Auto segment (European reference index +5.4%) while prices fell in the chemical and construction sectors (-1.4% and –1.8% respectively) due to the uncertain trend in commodity prices.
In Milan the market welcomed the spin off of Fiat into Fiat SpA (incorporating the Auto business) and Fiat Industrial on 3 January.
The trend in the tyre sector was more subdued, with Michelin, Nokian and Pirelli (€ 6.05) penalised by the price of natural rubber, which continued to rally.
Categories: Peers & Markets Pirelli