24 Jul 2020
Stock values offer a mixed picture
London – Stock prices of major tire makers displayed a mixed picture with Japanese manufacturers tracking a negative trend over the past few weeks.
Nevertheless, stock prices of most of major tire makers monitored by ERJ rose during the four weeks to 17 July, with the exception of marginal declines in the share value of Bridgestone, Pirelli and Sumitomo Rubber Industries.
Despite a significant rebound since a collapse in March, shares of most tire manufacturers have not fully recovered to pre-Covid prices.
The global outbreak of Covid-19 saws share prices of tire makers fall dramatically, due to widespread temporary plant closures, automotive slowdown and low demand.
Bridgestone (Tokyo) Yen3.509 (19 June) to Yen3.495 (17 July)
Cooper Tire (NYSE) $26.15 to $30.42
Goodyear (Nasdaq) $8.54 to $9.64
Michelin (Paris) €88.76 to €94.00
Nokian (Helsinki) €19.51* to €19.67
Pirelli (Borsa Italiano) €3.89 to €3.77
SRI (Tokyo) Yen1.077 to Yen993
* Helsinki stock market was closed 19 June to mark midsummer festivals and figure reflects prices at the end of business 18 June.
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