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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

24 to 28 January was a shaky week on the international markets:  Milan -0.3%, London -0.3%, Frankfurt +0.6%, Paris -0.4%.

The most affected sector was banking, which closed 1.3% down, due also to significant profit-taking after the rally at the start of the year (YTD performance +8.8%).

The European tyre sector was down, after the Goldman Sachs downgrade due to the continual rise in the cost of raw materials.  Pirelli closed the week at € 5.610, a fall of 3% with an average of approximately 4 million  trades.

Categories: Peers & Markets


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PEERS & MARKETS

The week 10 to 14 January was a positive one for the financial markets: Milan +4.5%, London +0.3%, Frankfurt +1.8%, Paris +3.0%. The success of the Portuguese and Spanish bond auctions has mitigated fears about the debts of peripheral euro area countries and shifted the focus of investors to banks: reference index +6.2%, best sector at European level. 
 

 Pirelli closed 2.7% down. Despite the positive view expressed by Kepler (which maintained its Buy recommendation and Target price of €7.6, catalyst: geographical diversification, exposure on premium and management quality) which recommends investment in Pirelli for 2011,  the share price is affected by profit taking by banks and financial institutions as well as sector concerns about the trend in raw material costs.


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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.


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