Prysmian Daily News Update

As of October 23, today’s news highlights Prysmian’s strategic role in global energy security and market insights related to artificial intelligence and energy infrastructure. BofA Global Research has highlighted Prysmian's resilience in potential adverse scenarios, projecting a 10% increase in shares even under a severe bear case for artificial intelligence capital expenditures. In a related focus on Prysmian's operational contributions, Alessandro Panico, the Transmission Chief Commercial Officer, remarked on the strategic importance of southern Italy's Arco Felice site in producing high-voltage submarine cables. This facility supports global energy security by facilitating interconnections across continents, including critical projects like the HVDC link...

As of October 22, today’s news features mounting concerns over returns on AI investments and Nexans’ share price decline despite strong quarterly sales growth. Concerns over the returns on massive investments in artificial intelligence development are weighing on European tech stocks, with the sector sub-index shedding just under 2%. In Milan, Technoprobe (-7.63%), Prysmian (-7.61%) and STMicroelectronics (-4.98%) are among the hardest hit. Meanwhile Nexans reported a robust 21.4% increase in third-quarter sales, totaling 1.70 billion euros, attributed to heightened demand for grid and data-center infrastructure. The electrification sector drove 1.49 billion euros of this figure. Despite this impressive growth, Nexans shares declined significantly, fall...

As of October 21, today’s news sees developments related to energy security in Europe and the growing scrutiny of technological advancements. Growth opportunities are building. But is the market giving Prysmian enough credit? Bloomberg Intelligence says Prysmian’s forward price-to-earnings multiple has fallen to around 18 times, from a May peak of approximately 29. That puts the shares at a slight discount to European capital-goods peers, despite opportunities across data centers, grid upgrades and replacement. And there are encouraging signals from customers’ markets. ABB and Schneider Electric both reported triple-digit growth in data-center demand. Bloomberg Intelligence sees a positive read-across for Prysmian’s Indust...

As of October 20, today’s news is dominated by mounting concerns in the tech sector, particularly surrounding artificial intelligence and its accompanying supply chain, which has been exacerbated by recent market fluctuations. Prysmian's recent performance reflects broader trends affecting electrification stocks as sentiment towards AI shifts. Shares of Prysmian fell by 2.6%, part of a larger downturn affecting its peers, such as ABB and Siemens Energy, due to increasing anxiety over AI investments and rising costs associated with the data center infrastructure that many companies rely on. ABB's stock dropped nearly 6% despite reporting record new orders, signaling investor concerns over sustainability in...

As of October 19, today’s news is dominated by Prysmian's successful acquisition of Atkore, along with ongoing discussions on global energy transitions and technology investments. Prysmian has completed the acquisition of Atkore, a key player in electrical solutions and infrastructure, for approximately 3.8 billion dollars, with consolidation set to begin on November 1. Massimo Battaini, Prysmian's CEO, highlighted that this acquisition marks a significant step in Prysmian's evolution towards becoming an integrated operator, bolstering their offerings to enhance efficiency in project execution, particularly in the expanding data center sector. Furthermore, Corriere della Sera highlighted a surge in Italian investment in the US, le...

As of October 16, today’s news features developments in energy infrastructure, particularly relating to nuclear power and the implications of artificial intelligence on various sectors. In a significant milestone for Slovakia, the fourth unit of the Mochovce nuclear power plant has been successfully connected and is now supplying electricity while operating at 20% power. Operated by Slovenske Elektrarne, the unit has an installed capacity of 471 MW and is projected to generate roughly 3.5 million MWh annually once fully operational, significantly boosting Slovakia’s electricity supply. Meanwhile, Schneider Electric raised its 2026 core profit and revenue targets for the second time this year on Frid...

As of October 15, today’s news sees developments in technology and energy, particularly focusing on Prysmian's advancements in cable monitoring and ongoing concerns in the AI sector. Cable monitoring systems can detect faults and identify warning signs of potential attacks on critical infrastructure. This was explained by Roberto Candela, CEO of Eoss, Prysmian’s centre of excellence based in Palermo, speaking at the Green & Net Zero Talk organised by RCS Academy. “Prysmian is the only Italian company to have DAS and DTS monitoring systems for submarine cables used in both power transmission and telecommunications,” he said. “Today, Prysmian cables are sold with...

As of October 14, today’s news sees developments in energy markets, particularly those affecting key players in the industry, along with the geopolitical impacts influencing these sectors. Prysmian continues to make headlines as Banca Akros has reaffirmed its "accumulate" recommendation and set a target price of 138 euros following the completion of its acquisition of Xtera. Analysts suggest that this acquisition enhances Prysmian's technological offerings, positioning the company strategically to benefit from growth in the submarine telecommunications infrastructure market. In market dynamics, Russian strikes on Kyiv led to significant casualties and the disruption of power supply to hundreds of thousands. These st...

As of October 13, today’s news highlights Prysmian's strategic acquisition and the evolving landscape in the automotive and tech industries. Prysmian has completed the acquisition of Xtera, a UK-and U.S.-based specialist in turnkey submarine telecom systems, through the joint venture between Prysmian (80%) and Fincantieri (20%). The closing marks a significant step in Prysmian’s expansion in submarine telecommunications, combining Xtera’s proprietary repeater technology and expertise in regional and long-haul systems with Prysmian’s leadership in submarine cable technology, manufacturing and installation, the company said in a statement. The transaction, announced in December 2025, implies an enterprise value of 65 million dollars...

As of October 12, today’s news features significant political developments regarding a surprise ceasefire announcement in Ukraine, continuing shifts in the energy sector, and noteworthy updates from the technology and automotive industries. Danish company Orsted has opted to buy back its remaining stake in the Gunfleet Sands offshore wind farm, ensuring its complete ownership as it assesses future options for the project, including potential lifetime extensions. This transaction, valued at 20 million dollars, reflects Orsted's ongoing commitment to renewable infrastructure in the UK. Meanwhile, in a remarkable move, US President Donald Trump announced an immediate energy ceasefire between Ukraine and Russia, wh...

Today’s news sees developments in the AI sector, with significant implications for corporate earnings. In the U.S., analysts predict a robust third-quarter earnings season, largely fueled by technology and AI companies such as Alphabet, Amazon.com, and Meta Platforms, which are expected to contribute significantly to the approximate 31% year-on-year increase in S&P 500 earnings. This surge has propelled the index to record highs, although concerns linger regarding the sustainability of this growth and the potential impact on share prices should the trend reverse. With investor enthusiasm high, the earnings season kicks off next week, with major banks set to...

As of October 8, today’s news features advancements in renewable energy contracts, investment efforts in energy storage technologies, and changes in energy strategies across Europe. Italian startup Energy Dome, which develops carbon dioxide-based energy storage technology, is in advanced talks with European and US investors to raise several hundred millions of euros to support its growth, Chief Executive Claudio Spadacini said. Meanwhile, NKT has secured a contract for three high-voltage AC onshore cable projects from Hamburger EnergieNetze. Furthermore, Nexans saw its target price raised by JP Morgan from 183 euros to 186 euro. In Hungary, the government aims to pivot towards renewable en...

As of October 7, today's news highlights significant developments in energy projects and corporate acquisitions, with a particular focus on Prysmian's anticipated acquisition of Atkore. Prysmian announced that, at a special meeting held earlier today, holders of a majority of the outstanding shares of common stock of Atkore voted in favor of adopting the merger agreement signed on August 2, 2026. Under the agreement, Prysmian will acquire Atkore for 95.00 dollars per share in cash. Prysmian currently expects the acquisition to close on October 19, 2026, subject to the satisfaction or waiver of the remaining closing conditions, including the remaining regulatory clearance and other customary conditions...

As of October 6, today's news sees significant developments in energy infrastructure funding in the US, regulatory challenges for utilities, and emerging market dynamics in renewable energy. The US Energy Department is set to announce a 150 million dollars funding initiative targeted at power lines in Alaska, coinciding with Vice President JD Vance's campaign efforts to support Republican Senator Dan Sullivan, who is facing a tough re-election battle against Democrat Mary Peltola. The project aims to construct 223 miles of electrical transmission lines, crucial for connecting major population centers in Alaska. Meanwhile, NextEra's proposed 67 billion dollars acquisition of Dominion is stirring political unrest...

In this episode of the Prysmian Daily News Update, Frederick Persson, Executive VP of Digital Solutions at Prysmian, shares his perspective on the trends shaping the future of connectivity. From the growing role of AI and data centers to the evolving dynamics of global supply chains, he discusses how the fiber market has changed and where it is heading next.

The conversation explores the strategic importance of fiber, advancements in hollow-core fiber technology, Prysmian's partnership with Molex, and the opportunities emerging across the digital infrastructure landscape. Along the way, Frederick reflects on the rapid pace of change...

As of October 5, today’s news features corporate acquisitions, macroeconomic trends in the energy sector, and significant political developments in Europe. Schneider Electric announced a definitive agreement to acquire the US software firm PTC for approximately 22.6 billion dollars. This deal represents Schneider's largest acquisition to date, highlighting its ambition to expand its data centre business against a backdrop of increasing demand. Following the announcement, Schneider's shares fell nearly 10% in early trading, attributed to investor concern over the high premium paid for PTC and broader uncertainties surrounding software valuations amidst AI disruption. Analysts suggest that while PTC's valuation is notably low, th...

As of October 2, today’s news sees significant investments in technology and energy sectors alongside developments in other markets. Prysmian saw a notable uptick, with shares increasing by 4% amid broader gains in AI-related stocks across Europe. This upward trend followed a report indicating that Samsung Electronics is increasing prices for its memory chips, consequently benefiting suppliers within the semiconductor space. Meanwhile, Amazon has committed to invest over 1 billion dollars in US communities housing its data centers over the next five years. This plan addresses community concerns surrounding the environmental impacts of data centers, including electricity and water usage. Significant investments pr...

As of October 1, today’s news is dominated by positive developments for Prysmian alongside relevant updates in the technology and energy sectors. Prysmian has received an upgrade from Banca Akros, raising the recommendation to accumulate from neutral and setting a target price of 138 euros. Additionally, Barclays has also revised its target price for Prysmian from 164 euros to 167 euros. In anticipation of Prysmian's third-quarter results, scheduled for October 29, analysts are buoyed by the company's projected organic sales growth, which is expected to remain in the high single digits, Bloomberg Intelligence reported. Turning to other market updates, Nvidia's ambitious financing strategy, aimed at...

As of September 30, today’s news highlights developments in European manufacturing policies and energy investments amid ongoing geopolitical tensions. The EU’s Industrial Accelerator Act aims to revive manufacturing, but critics warn against spending on sectors where Europe has already lost ground, Repubblica reported. Instead, policy should focus on areas where Europe retains a technological edge, including electrification and digital infrastructure. This underpins the call for power and fiber to be included in the Industrial Accelerator Act, alongside support for other strategic European capabilities. Meanwhile, more than 6,500 people in Madagascar have filed a claim in London's High Court against Rio Tint...

As of September 29, today’s news is dominated by Prysmian's strong strategic focus on innovation and significant investments in North America, extraordinary Shareholders’ Meeting, alongside ongoing discussions in Europe about energy policies and the geopolitical landscape. Prysmian's CEO, Massimo Battaini, spoke at the Italian Energy Summit, emphasizing the company's commitment to innovation and its major investments in the US, totaling approximately 10 billion dollars over the past two years. Battaini highlighted three significant acquisitions that have solidified Prysmian's position as a key player in the American construction sector and data center market. He noted that the demand for fiber, driven by the...

As of September 28, today’s news fetures energy price fluctuations in Europe due to geopolitical developments and significant tariff negotiations between the US and China. Gas prices in Europe have increased, reflecting market volatility triggered by US President Trump's rejection of Iran's proposal to reopen the Strait of Hormuz. This waterway is crucial for global LNG transport, facilitating roughly one-fifth of the world's supply. The benchmark Dutch front-month gas contract rose to 73.95 euro per megawatt hour, indicating market anxiety over the ongoing US-Iran conflict. Analysts expect further bullish developments, especially as maintenance at Norway's Troll gas field has tightened supply, wh...

As of September 25, today's news sees Prysmian's positive market assessment and heightened discussions surrounding global power grid infrastructure, alongside significant developments in artificial intelligence regulation and U.S.-China relations. Prysmian has reaffirmed its strong market position, with Intesa Sanpaolo maintaining a "buy" recommendation and a price target of 168 euros following a recent roadshow. Analysts expressed confidence in Prysmian's earnings outlook, highlighting a structural improvement driven by three key factors: Transmission, Digital Solutions, and growth in North America. Meanwhile, Financial Times highlighted growing MAGA opposition to Trump’s strong support for AI and data centres. Critics, including prominent conservatives, argue th...

As of September 24, today’s news sees regulatory changes in Texas regarding data centre growth, significant corporate developments in Europe, and diplomatic efforts between the US and China. Texas Governor Greg Abbott has reacted to rising concerns over the proliferation of data centres, which some voters fear could destabilize the state’s power grid and increase electricity prices, Financial Times reported. Abbott has directed the Texas Commission on Environmental Quality to place a halt on all data centre permit applications pending a review of the grid, further tightening scrutiny on this sector ahead of the crucial midterm elections on November 3. The...

As of September 23, today’s news highlights Prysmian's long-term copper supply agreement with Aurubis, alongside significant global energy developments and geopolitical discussions. Prysmian and Aurubis have signed a landmark long-term agreement for the supply of copper wire rod, deepening a strategic partnership spanning more than 30 years, the company said in a statement. The agreement represents a significant step in securing one of the critical materials underpinning electrification, the energy transition, and digitalization. As copper demand grows, driven by the expansion of power grids, renewable energy, electrification and AI infrastructure, the agreement will enhance Europe’s production footprint, recycling capabilities and low...

What’s behind Prysmian’s acquisition of Cristina Bifulco, Chief of Strategy and M&A, discusses the strategic rationale behind acquiring Atkore, how it strengthens Prysmian’s position in North America, and why becoming a solutions provider is key to the company’s future. She also shares a personal behind-the-scenes story from the deal process, reflecting on the role of trust, relationships and culture in one of Prysmian’s most significant acquisitions.

As of September 22, today’s news features geopolitical tensions, especially concerning discussions led by Donald Trump at the UN General Assembly, as well as market movements related to technology and energy. Prysmian has reaffirmed its strong trajectory with UBS maintaining a "buy" recommendation and a target price of 175 euros per share, citing robust growth driven by fiber prices and demand related to data centers and AI. Prysmian's stock rose by 2.54%, reflecting investor confidence. Meanwhile, in a notable development, Donald Trump is engaging in intensive discussions during the UN General Assembly this week, with key issues being the wars in Iran an...

As of September 21, today’s news highlights developments in telecommunications and the European energy market, alongside global political landscapes. Prysmian’s noted performance remains strong, bolstered by new insights from Mediobanca Research, which has reaffirmed its "outperform" rating. The positive outlook follows the announcement that Xtera has been selected by EXA Infrastructure to provide optical engineering and wet and dry components for the EXA Meridian, a significant transatlantic submarine cable project stretching 6,552 km between New Jersey and Brean in the United Kingdom. Elsewhere, the European Commission proposed new regulations mandating data centers to disclose energy and water efficiency metrics. As part...

As of September 18, today’s news highlights significant developments involving Prysmian, including partnerships in innovative technology and updates on industry performance amidst global market fluctuations. Prysmian has made headlines with two announcements. Firstly, Prysmian has partnered with Rio Tinto to supply low-carbon aluminum electrical cables for an Amazon data center in Ohio, representing a major step in reducing the carbon footprint of electrical infrastructures. This collaboration will utilize aluminum produced with ELYSIS technology, which eliminates direct greenhouse gas emissions compared to traditional smelting methods. Additionally, Xtera, which Prysmian acquired with Fincantieri, has been selected by Exa Infrastructure to implement the Ex...

As of September 17, today’s news features developments in energy cooperation, market dynamics, and evolving geopolitical relationships. In a notable highlight, Italian Prime Minister Giorgia Meloni is on her first official visit to Norway in almost 15 years, aiming to strengthen ties in energy, critical minerals, and defense. Set to meet with Norwegian Prime Minister Jonas Gahr Stoere in Oslo, Meloni’s agenda includes fostering bilateral investments through discussions with business leaders from both nations. This visit reflects Italy's strategy to diversify energy supplies amid ongoing market volatility, further emphasized by her previous engagements with key gas-producing countries like Algeria and Azer...

As of September 16, today's news sees developments in the financial markets, energy prices, and political movements in Europe, with Prysmian leading the charge in the stock market. Prysmian's stock surged by 3.4%, closing at 122.50 euros per share. This uptick follows a noteworthy period in which the oil market exhibited signs of restraint, and bond yields, despite remaining elevated, have moderated. Investors are keenly awaiting the U.S. Federal Reserve's potential interest rate hike, anticipated to be at least 25 basis points, as it navigates inflationary concerns and its future monetary policy stance. In other market developments, Microsoft’s AI chief, Mustafa Suleyman, ha...

As of September 15, today's news features developments surrounding the ongoing conflict between Russia and Ukraine, alongside updates regarding Prysmian's acquisition pursuits and market dynamics. Prysmian has received U.S. antitrust approval for its proposed acquisition of Atkore, as the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on September 14. Analysts at Intesa Sanpaolo maintained a "buy" rating for Prysmian, projecting successful closure of the acquisition by the end of the year and full consolidation of Atkore's operations by 2027. In the geopolitical sphere, Russia intensified its strikes on Ukrainian energy infrastructures, hitting petrol stations in Kyiv and other critical...

As of September 14, today’s news is dominated by significant stock market fluctuations, particularly affecting technology sectors, alongside geopolitical developments impacting energy strategies. Prysmian’s shares fell sharply, closing down 6.8% amid a wave of selling in the technology sector. This sector was the worst performer across Europe, driven by announcements from key AI leaders advocating for a slowdown in development due to safety concerns, which contributed to a more than 5% drop in chip stocks like Nvidia and AMD. Looking at broader macro trends, geopolitical tensions are impacting energy dynamics, especially as Germany prepares to implement protective measures against China that may...

As of September 11, today’s news sees Prysmian's successful capital increase to fund its acquisition of Atkore and significant movements in the metals market, particularly regarding copper prices. Prysmian raised approximately 850 million euros through the sale of 7 million newly issued shares at 121 euros each to partially finance its 3.8 billion dollars acquisition of Atkore, the company said in a statement. Following the announcement, Prysmian’s stock rose by 2.95%, reflecting market confidence in the acquisition and the company's growth strategy. Meanwhile, Chancellor Friedrich Merz is determined to hold on to power in Germany in defiance of the growing numbers within his party seek...

As of September 10, today's news sees developments in AI and energy markets, alongside political dynamics in the U.S. Prysmian is looking to raise 850 million euros through a share sale to help pay for its acquisition of peer Atkore. The company is offering the shares in an overnight placement with investors, according to a statement. There was enough investor demand to cover the deal shortly after order taking began on Thursday, according to terms seen by Bloomberg. Meanwhile, Nvidia has announced a substantial expansion of data center capacity in Australia. The company plans to boost the nation's computing power by...

As of September 9, today’s news highlights new public procurement rules by EU and escalating tensions in the Middle East, which have significantly impacted global oil prices. The EU has introduced new public procurement rules aimed at fostering domestic engagement in response to competitive pressures from China. These measures are intended to shift public spending toward European suppliers and stipulate that quality metrics must be prioritized over purely cost considerations - a move that highlights the EU's focus on protecting and promoting its industries amidst external competition. In a notable sequence of events, Iran announced it had attacked ten ships ne...

As of September 8, today’s news sees outlook for global diesel supply, significant agreements in the optical fiber sector, and escalating tensions in the Middle East. In the energy sector, senior industry executives at the APPEC conference indicated that global diesel supply will remain tight through the winter due to insufficient refining capacity and ongoing geopolitical tensions. Russia's ban on product exports and conflicts in Ukraine and Iran have notably strained supply. Turning to market updates, Verizon has entered a multi-billion-dollar, multi-year supply agreement with Corning, which includes the provision of over 80 million miles of high-density optical fiber and solutions fr...

As energy networks become more critical than ever, customers need more than cables. They need reliability, resilience, and rapid intervention when issues arise. Join Gabriele Tempestini, IMR Sales Sr. Manager and Roberta Corti, Sales Manager as they discuss how IMR services, smart monitoring, and lifecycle asset management are helping customers maximize performance, reduce risk, and keep the grid running. 

As of September 7, today’s news features developments in the energy sector, global market trends, and geopolitical challenges impacting exports. TerraPower, backed by Bill Gates, aims to begin generating electricity with its Natrium reactors in the UK by 2034. This initiative is part of Britain's strategy to enhance energy security through small modular reactors. Each Natrium reactor is designed to produce 345 megawatts, with additional capabilities for higher output. The project represents a significant step toward modernizing and diversifying the UK's energy portfolio in the face of climate-related goals. Meanwhile, French state-owned electric utility EDF is in discussions to acquire So Energy, a...

As of September 4, today’s news sees developments in renewable energy regulations, geopolitical tensions affecting rare earth shipments, and fluctuations in energy prices. India has proposed mandating battery storage for all new government solar and wind projects starting July 2027. According to draft regulations from the Central Electricity Authority, projects will need at least a two-hour battery storage equivalent to 10% of their capacity, escalating to four hours by July 2029. This initiative aims to tackle challenges posed by fluctuations in renewable energy generation, as India seeks to enhance its infrastructure for managing excess electricity, which has already led to curtailments of nearly 14% of...

As of September 3, today’s news highlights shifts in the energy sector, developments in U.S. politics affecting technology, and corporate transactions in the tech industry. Nvidia will buy popular developer platform Hugging Face for 12.93 billion dollars, betting that support for open AI models will drive future demand even as its biggest customers develop their own chips to reduce reliance on the semiconductor giant. Meanwhile, the energy landscape is highlighted by a substantial drop in German spot power prices. The baseload spot electricity contract decreased by 23% to 97 euros per megawatt hour, as forecasts predict an increase in wind power generation to...