London – Tire makers have apparently managed to arrest and, in some cases, even reverse the steady slide in share prices seen throughout last year.
The biggest improvements were seen in Europe, ERJ's latest snapshot of the performance of major players over the last three months of trading (7 Jan to 5 April) indicates:
Bridgestone (Tokyo) Yen4,250.0 (7 Jan) to Yen4,442 (5 Apr)
Cooper Tire (NYSE) $32.50 to $31.63
Goodyear (Nasdaq) $21.00 to $19.37
Michelin (Paris) €86.94 to €103.85
Nokian (Helsinki) €27.77 to €32.05
Pirelli (Borsa Italiano) €5.62 to €5.69
SRI (Tokyo) Yen1,584.0 to Yen1,602
As ERJ recently reported, the world’s largest tire makers are under pressure from investors to reverse a slide that saw share prices decline by around 20-30% over the course of last year.