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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

The week 23 to 27 August was characterised by falls on most European markets  (Milan -0.3%, London +0.1%, Paris -0.5%, Frankfurt -0.9%).
The negative data on the US economy stoked fears about the economic recovery, which were partially allayed by Friday’s figures on growth in the US GDP in the second quarter of 2010 (+1.6%, instead of the expected 1.3%) and the declarations by the president of the Federal Reserve on measures to support the economy.
Most sectors of the economy performed poorly (Auto -0.7%, Industrial -1.5%, Tech -2.6%).
European tyre shares outperformed the DJ Stoxx Auto with Pirelli at  +0.3% (€5.275). The stock confirmed its status as best performer in the FTSE Mib basket since the start of the year, with performance to date of +28.9 pp. The consensus target price was  €6.19 after the recent valuation upgrades (HSBC Buy at €6.8, SG Buy at €6.3, Banca IMI NAV at  €6.9). The most prevalent recommendation was Buy (78% of analyst coverage).
The price of Pirelli Real Estate did not change, closing at  € 0.347.
 


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PEERS & MARKETS

PEERS&MARKETS 4.1-8.1.10Major world stock markets open 2010 with gains of over two percentage points in the first week of trading. Strong performance especially by banking stocks (+6.2% European Reference Index) and by the cyclical sector (+3.4% for auto parts, +4.0% for industrials and +7% basic resources).
Pirelli is among top gainers from the Milan Stock Exchange, ending the week with a gain of 5.4% at €0.443, significantly outperforming the sector index (+2 percentage points) and the  Italian blue-chip index (+3 percentage points). Centrobanca upgraded Pirelli this week and raised the target price from €0.47 to €0.49. The consensus target price for Pirelli settled at €0.48 by coverage made by 18 brokers; 71% BUY and 29% HOLD.
Pirelli RE ends the week with a +4.1% increase, outperforming the Italian real estate sector (Beni Stabili +2.6%, Risanamento -0.1% and Brioschi -3.7%).

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PEERS & MARKETS

Peers & markets 2-6.11.09International markets end week on a positive note, an average increase of 2 percentage points, particularly for the cyclical sector (+2.2% for Auto & Parts, + 2.8% for industrials and +6% basic resources).
Pirelli is among the top gainers from the Milan Stock Exchange, ending the week with a gain of 6% at €0.406, significantly outperforming the  Auto&Parts index and the Italian blue-chip index (+4%). The market reacted positively to the company’s quarterly results, particularly considering the positive outlook and the revised guidance the on the tyre business unit.
Following the quarterly results announcement, nine brokers (Banca Imi, Banca Leonardo, Centrobanca, Centrosim, Cheuvreux, Exan, Kepler, Mediobanca, Societè Generale) increased the rating on Pirelli stock (an average of +5% on the target price). The consensus forecast for Pirelli settles at €0.43; a “BUY” recommendation prevails on coverage made by 18 business banks.
Pirelli RE ends the week the with a 1.8% increase against the market trend, compared major securities from the Italian real estate sector.


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