ARCHIVE

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.

Share to Facebook Share to Linkedin Share to Twitter More...

PEERS & MARKETS

A sharp rise for Pirelli in the week 4 to 8 April 2011, returning to a three-year high of €6.5 (+3.8%, about 2pp higher than the Milan blue chip index). This price trend was supported by upgrades by Mediobanca (Overweight and TP at €7.2 from €6.9), Societe Generale (Neutral at €6.9 from €6.25) and Morgan Stanley (Overweight at €9 from Underweight at €6.6).
For Morgan Stanley in particular, Pirelli is the only share in the Auto & Parts sector to offer a high upside on its results: growth of 20% in EPS is forecast in 2011, and 21% in 2012.
The trend on the major international markets was also broadly positive (Milan +1.9%, London +0.8%, Paris +0.2%, Frankfurt +0.5%).
The BCE decision to raise the official interest rate by 25 points (to 1.25%) had a particularly positive effect on bank shares, which recorded growth of 2.2% over the week, and on the Euro, which reached a 15-month high of 1.4426 against the dollar. Industrial (Stoxx –1.4%) and Auto (-0.7%) shares, in contrast, were weak. 
It should be noted that the continuing geopolitical tensions in the Middle East and Africa meant that oil reached a 32-month high during the week (with Brent at 124 dollars a barrel).

Tags: , , ,

Categories: Peers & Markets


Write a comment »


1 news for the tag: record