Tire and rubber share prices tumble

London - Tire & rubber industry share prices* were heavily impacted by global developments this week, not least the US imposition of hefty duties on imports from countries around the world.

Goodyear was the sole beneficiary from a selection of shares tracked weekly by ERJ: its share price rising by 7.8%, the day after the latest US tariffs were announced.

Among those hardest hit were Japanese tire makers Bridgestone and Sumitomo Rubber Industries, whose stock values dropped by 8.0% and 19.1% week-on-week respectively.

European tire manufacturers were less impacted, with respective declines of 2.1%, 5.8% and 4.0% for Michelin, Pirelli and Nokian.

Among rubber product makers and processors, there were significant declines in the share values of: Cooper-Standard, down 14.3%; Semperit, down 11.8%; Trelleborg, down 9.8%; and Hexpol, down 6.8%.

*Based on ERJ snapshot of share values near close of trading on 3 April. See also this week's Rubber & tire industry in numbers