London – Share prices of major tire makers observed declines over the recent weeks, reversing an upward trend registered in June.
According to ERJ’s snapshot of global stock markets, share prices of all tire makers covered by the analysis decreased over the seven weeks to 9 Aug.
The declines reflect a general weak environment resulted from the global automotive slowdown.
Bridgestone (Tokyo) Yen 4,234 (21 June) to Yen 4m,064 (9 Aug)
Cooper Tire (NYSE) $30.70 to $23.85
Goodyear (Nasdaq) $15.18 to $12.22
Michelin (Paris) €113.20 to €94.60
Nokian (Helsinki) €27.18 to €26.07
Pirelli (Borsa Italiano) €5.50 to €4.65
SRI (Tokyo) Yen 1.241 to Yen1.165