Pirelli : Largely unsurprising release
>Better Q3 numbers but 2020 guidance does not point to any upside - Pirelli yesterday evening reported slightly better-than-expected Q3 2020 results (+4% on revenues and EBIT) but this should not be taken as major surprises given all its rivals had already turned in solid performances showing a marked improvement on Q2 2020. But they remain, in contrast to its peers, more characterised by negative forex effects given Pirelli’s more significant exposure to this theme. ...Pirelli & Co. is a holding company that manages, coordinates and finances the operations of its subsidiaries, which are mainly active in the tyre sector. Other activities relate to the emissions control technologies, renewable energy sources and fashion industries. Co.'s Total Tyre Business is split into: the Consumer Business segment that includes car and motorcycle tyres made for both the original equipment and replacement markets; and the Industrial Business segment that includes truck tyres, tyres for agricultural equipment, made both for the original equipment and replacement markets, and the steel cord business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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