The main European stock markets were down in the week from May 28 to June 1 (-3.2% Milan, London -1.7%, -4.6% Frankfurt, Paris -3.2%). Stock prices were affected by the tensions on the Spanish banking sector (possible bankruptcy of Bankia), the political instability in Greece (exit polls on the majority party) and the negative U.S. and European macroeconomic data (labor, consumption).
Sales hit all sectors indiscriminately with DJStoxx 600 down by 3.1%.
Auto&Parts sector performance (-4.7% Stoxx Auto) was penalized by both profit taking after year-to-date rally (highest sectorial performance: +7.6% YTD) and the negative May car registrations in the main European markets.
Pirelli ended the week at € 7,705 down by 4% with an average daily traded volume of about 4.7 million pieces.