London – Stock prices of almost all major tire makers monitored by ERJ have increased over the recent weeks, as third quarter results showed signs of recovery in demand and consumer confidence.
The share value of Michelin, which posted an ‘upturn’ in sales for the three months to end of September, rose by nearly 10% to €107.5 in the four weeks to 20 Nov.
Goodyear was the only tire maker to see a decline in stock prices over the period.
Bridgestone (Tokyo) Yen3,618 (23 Oct) to Yen3,745 (20 Nov)
Cooper Tire (NYSE) $37.65 to $39.91
Goodyear (Nasdaq) $11.00 to $10.36
Michelin (Paris) €98.18 to €107.55
Nokian (Helsinki) €26.87 to €29.21
Pirelli (Borsa Italiano) €4.11 to €4.18
SRI (Tokyo) Yen982 to Yen1,018