Pirelli Shares Rise Upon Hope Company Will Focus on Tyre Strengths

Shares in Pirelli Tyre parent company Pirelli & C SpA have risen four per cent to a one-year high on hopes that the company may focus more intensely upon its tyre business. The possibility exists that the Pirelli & C Real Estate SpA business unit could be detached from the company. "That would help it being seen as a pure tyre company, valued without the classic discount for holding companies," a trader told Reuters.