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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

In the week from the 25th to the 29th of August the main European stock markets have showed a positive trend (Milan +2.7%, Frankfurt +1.4%, Paris +3.0%, Madrid +2.2%).

Investors reacted positively to the Mario Draghi speech of the 22nd of August about a possible BCE decision of launching a quantitative easing policy, similar to the USA one. The latter is aimed at stimulating the European economy which is currently at risk of stagnation. The second quarter GDP data of the three main countries are not positive, compared to the previous ones, Germany -0.2%, France +0.0% and Italy -0.2% (technically in recession being the second negative quarter consecutive).    

Pirelli shares close the week at 11.63 (+1,8%) with average volumes of 1.8 million shares per day (last 3 month average: 2.1) outperforming European peers (Continental -0.5%, Michelin +2.0% and Nokian -3.7%)

 Consensus target stands at 12.93 €/share with 86% of analysts advising to Buy or Hold the shares.


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PEERS & MARKETS

The main European stock markets were mixed in the week from the 22nd to the 26th of July, 2013 (Milan +1.8%, London -1.1%, Frankfurt -1.0%, Paris +1.1%). The Chinese Premier reassured investors on 2013 growth in the Asian country (at least 7%), but negative surprises came from manufacturing and real estate sector data in the US as well as from disappointing Q2 earnings of large players in the chemical and industrial sectors.

Auto & Parts stocks were stable in the week (sector index -0.3%). Barclays upgraded the sector view while staying cautions (Hold from Sell), on the back of improving market fundamentals in Europe (volume and pricing) and expectations of an upside from emerging markets growth.

Pirelli shares closed the week at 9.65€, up 1.1 percentage points. Volumes traded were low (approx. 1.7 million shares per day, or 22% lower than last month’s average), and tyre market data for June strengthened analyst’s expectations that the European market might be stabilizing (car tyre replacement market was up +3% yoy in June).

Consensus target price stood at 9.7€, with 45% of analysts in the coverage recommending to “Buy” the stock.


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