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  • Prysmian scores third upgrade, EU speeds EV review - Sep 12, 2025

    Prysmian scores third upgrade, EU speeds EV review - Sep 12, 2025
    2025/09/12
    As of September 12, today’s news highlights a fresh round of target price upgrades for Prysmian and the European Commission’s decision to accelerate its review of the 2035 zero-emission target for cars and vans, amid broader economic trends. Prysmian secured a third target price upgrade in as many days, following increases from Bank of America and JP Morgan, with Citi now joining the list. Citi has raised its target price on Prysmian from 79 euros to 91 euros, confirming its “buy” rating. Analysts cited the positive impact of U.S. tariffs. In a related context, UBS strategists have suggested that European stocks, including Prysmian, may offer upside potential as indicators improve. They emphasize a preference for sectors tied to utilities, electrification, and renewables, highlighting Prysmian as a favored stock. Meanwhile, the European Commission will bring forward a review of its 2035 zero CO2 emission target for cars and vans to the end of this year from 2026, in response to automakers' appeals that a total shift to electric vehicles is no longer feasible. The European Union has set a target of 100% reduction of CO2 emissions for new cars and vans by 2035, which has been taken to mean the end of the internal combustion engine for new vehicles. Turning to broader market developments, aluminum producers in the EU are advocating for a 30% export levy on scrap metal to protect domestic markets from increasing foreign competition fueled by U.S. tariffs. This pushes the EU to reconsider its strategy toward raw materials and production costs within its borders. Copper prices have shown resilience, poised to reach a five-month high driven by supply shortages and softening dollar trends. Futures have increased, supported by easing job market data in the U.S. and expectations for future interest rate cuts, which bolster demand for industrial metals. On the regulatory front, the International Energy Agency (IEA) recently issued a report indicating a significant reduction in its 2030 forecast for low-emissions hydrogen production, lowering estimates by nearly a quarter. High-cost challenges and policy uncertainties have prompted many projects to be shelved, highlighting ongoing hurdles in the transition to greener energy sources. In global news, Malaysia, a hotspot for data centres, is reining in the pace of expansion in a move industry insiders and analysts expect will hinder China's efforts to gain access to powerful chips that are crucial to improving its artificial intelligence capabilities. Furthermore, Federal Reserve officials, already expected to cut interest rates next week, may also be closer to settling a months-long debate over the risks of stagflation after recent data showed longstanding weakness in hiring and easing inflation concerns.
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  • Prysmian target raised as Stellantis jumps in Milan - Sep 11, 2025

    Prysmian target raised as Stellantis jumps in Milan - Sep 11, 2025
    2025/09/11
    As of September 11, today’s news sees JP Morgan’s upgrade of Prysmian’s target price and relevant developments in corporate valuations and energy strategies. JP Morgan has raised Prysmian’s target price to 86 euros from 82 euros. Meanwhile, Stellantis shares rise as much as 8.6% in Milan after upbeat comments by Chief Executive Officer Antonio Filosa on dealer inventory levels and the company’s tariff talks with Washington. At a conference organized by Kepler Cheuvreux today, the CEO said the carmaker is in a “very productive exchange of ideas” with US President Donald Trump’s administration over how tariffs will be implemented and how the automaker can respond. In other market news, Iberdrola, Spain's major power utility, has announced a substantial investment in Brazil, increasing its stake in Neoenergia to 84% for 2.2 billion dollars. This acquisition from the Previ pension fund aligns with Iberdrola's strategy to enhance its electricity networks capabilities globally, showcasing a proactive approach to secure steady returns despite its past decision to divest from the Mexican market due to concerns over legal stability. Turning to commodities, copper prices have fluctuated near the crucial 10,000 dollars per metric ton mark, largely influenced by a stronger dollar and ongoing uncertainties related to tariffs and production disruptions. Recently, copper rebounded above this threshold, signaling a responsive market as traders speculate on upcoming changes in U.S. interest rates, which are expected to influence commodities valuations. Analysts have noted that mining disruptions and insufficient capital expenditure on new copper projects are limiting supply, contributing to the price hikes. In the international context, Taiwan has heightened patrols around its undersea cables following increased threats of disruption from China. This move reflects Taiwan's strategic emphasis on safeguarding essential communication infrastructure amid escalating geopolitical tensions. On the data center front, Vantage Data Centers has secured a massive 1.6 billion dollars investment to bolster its operations in the Asia-Pacific region, including a pivotal campus acquisition in Malaysia. This investment underscores the surging demand for digital infrastructure, primarily driven by advancements in artificial intelligence and cloud computing technologies. In other notable developments, Elliott Management has taken a 5% stake in Kansai Electric Power, an operator of nuclear facilities in Japan, pushing the company to enhance investor returns and restructure its asset portfolio. Furthermore, Oracle shares retreated on Thursday after a record AI-driven surge in the previous session that put the company closer to the trillion-dollars mark and co-founder Larry Ellison within striking distance of the world's richest person title. Finally, on the geopolitical front, Peter Mandelson, Britain's urbane ambassador to the US, was sacked by Prime Minister Keir Starmer today after a trove of emails revealed the depth of his ties with the late convicted U.S. sex offender Jeffrey Epstein.
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  • Prysmian soars on BofA upgrade, Orsted in turmoil - Sep 10, 2025

    Prysmian soars on BofA upgrade, Orsted in turmoil - Sep 10, 2025
    2025/09/10
    As of September 10, today’s news features Bank of America’s upgrade of Prysmian’s target price, market dynamics in energy and commodities, and broader geopolitical scenarios. Bank of America has raised Prysmian’s target price from 77 euros to 91 euros, confirming a “buy” rating. Analysts see “significant positive impacts” on the group’s margins from the introduction of U.S. tariffs on aluminum and copper. Meanwhile, Equinor believes in offshore wind farm developer Orsted's core business but is not at a stage where the two will merge their renewables businesses, the Norwegian group's board chair said today. Oil group Equinor holds a 10% stake in Orsted and has said it will take part in the Danish group's emergency rights issue designed to fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to wind farms. In market updates, the ongoing shifts in U.S. energy policy are raising concerns about future decarbonization rates. A report from the Rhodium Group indicates that the rollback of climate regulations and promotion of fossil fuels under Donald Trump's administration could significantly slow the pace of U.S. decarbonization, potentially halving the annual emissions reduction rate over the next 15 years compared to previous estimates. In broader industry news, NKT is bolstering its capabilities with a new facility dedicated to testing high-voltage power cables in Karlskrona, Sweden, enhancing its position in the power cable sector. Furthermore, GEK Terna's strong performance in Greece highlights a significant year-on-year growth of 84% in its first-half adjusted EBITDA, reflecting a boom in construction and concession activities. Meanwhile, copper prices remained stable as market participants await key economic data from China and the U.S. that could influence future pricing. Analysts are focusing on the upcoming loans data from China and U.S. inflation figures, which may affect interest rate expectations. On the global stage, Europe is shifting its clean electricity generation dynamics as wind power is expected to rise as the primary source of renewable energy, following a summer peak in solar generation. This transition is critical given recent underperformance in wind generation due to prolonged calm periods. In geopolitical developments, Poland has taken defensive actions by downing drones in its airspace, marking a significant and unprecedented military engagement in the context of the ongoing Ukraine conflict, drawing NATO's attention and response. Finally, France's new prime minister, Sebastien Lecornu, pledged to find creative ways to work with rivals to pass a debt-slimming budget while also promising new policy directions, after taking office on a day of sprawling anti-government protests.
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  • HSBC backs Prysmian, Anglo & Teck join forces - Sep 9, 2025

    HSBC backs Prysmian, Anglo & Teck join forces - Sep 9, 2025
    2025/09/09
    As of September 9, today’s news sees HSBC’s upgrade of Prysmian’s target price and significant corporate moves in the mining sector, alongside geopolitical developments. HSBC has raised Prysmian’s target price to 87 euros from 74 euros, while maintaining a “buy” rating on the stock. Analysts at HSBC cited a forecasted rebound in investments towards digital solutions, which is expected to drive substantial demand for data centers and new technologies, viewed as "growth accelerators." They also noted that while the slowdown in U.S. construction raises some concerns, Prysmian is well-positioned to benefit from the restrictions imposed by U.S. tariffs. In the mining sector, London-listed miner Anglo American and Canada's Teck Resources are to merge, the two companies said today, in what would be the biggest mining sector M&A deal in over a decade. Under the proposed deal, which will require regulatory approval, Anglo American shareholders would own 62.4% of the newly combined company, Anglo Teck, while shareholders in Teck will hold 37.6%. The deal marks a big bet by Anglo on copper, demand for which is forecast to rise sharply, driven by the electric vehicle boom and emerging uses such as AI-powered data centres. Turning to market updates, copper prices experienced slight declines ahead of a crucial revision of U.S. payroll data, as traders exercised caution regarding the labor market's perceived deterioration. Prices on the London Metal Exchange fell marginally to approximately 9,905 dollars per metric ton. In China, the yuan's rise against the dollar increased copper's attractiveness, maintaining relatively strong demand within the country. From an international perspective, Taiwan is embarking on a transition to deeper offshore wind projects, necessitating greater government support to achieve renewable capacity goals amid technical challenges, while Japan is ramping up investments in battery energy storage systems amidst an evolving energy landscape that increasingly favors renewables. On the geopolitical front, French President Emmanuel Macron is seeking his fifth prime minister in less than two years after opposition parties united to oust centre-right Prime Minister Francois Bayrou over his unpopular plans for budget tightening. Meanwhile, Israel expanded its military operations, targeting Hamas leadership in Qatar, intensifying tensions in the region.
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  • U.S. Solar Setback and Cable Liability Ruling - Sep 8, 2025

    U.S. Solar Setback and Cable Liability Ruling - Sep 8, 2025
    2025/09/08
    As of September 8, today’s news highlights setbacks for the U.S. solar industry and a key court ruling in a corporate liability dispute. The U.S. solar industry is at risk of installing 27% less capacity between 2026 and 2030 than before the passage of President Donald Trump's tax law that rolled back subsidies for such projects. The forecast by the Solar Energy Industries Association, the industry's top U.S. group, and energy research firm Wood Mackenzie, follows moves by Trump's administration to stymie development of clean energy industries that was the cornerstone of former President Joe Biden's climate change agenda. Meanwhile, a Nationwide Mutual Insurance unit won its bid to toss claims from General Cable Corp. over coverage for government investigations and civil suits against the cable maker over alleged foreign bribery and accounting violations. General Cable’s claim against Scottsdale Indemnity for anticipatory breach of contract isn’t yet ripe, and the statute of limitations bars its declaratory judgment claim, the US District Court for the District of Delaware ruled today. Turning to market updates, RWE has secured an investment of 3.2 billion euros from Apollo Global Management for upgrades to Germany's power grid. This joint venture is aimed at improving infrastructure in response to increased renewable energy capacity, reflecting a significant financial commitment to transitioning away from fossil fuels. On the international front, copper imports into China saw an 8% increase in August, driven by ramped-up shipments ahead of an impending export license expiration for a mine in Indonesia. This trend supports ongoing demand from Chinese smelters despite a drop in unwrought copper imports, which fell 11.5% from the previous month. In addition, the prices of copper on the London Metal Exchange saw slight support due to a weak dollar and expectations of stronger import demand in China, with market analysts remaining optimistic about import parity and import trends for September. Meanwhile, India has withdrawn grid access for nearly 17 GW of delayed clean energy projects to optimize resources for operational projects, a strategic move driven by rising power demand and the need to manage resources effectively amid ongoing infrastructure improvements. From a corporate perspective, Telefonica is exploring mergers and acquisitions to reshape the European telecom landscape, aiming to strengthen its market presence while adhering to investment-grade credit ratings amidst regulatory scrutiny. Lastly, Prime Minister François Bayrou said France's fiscal woes put its "very survival" at risk as he faced a defeat in a confidence vote on Monday that would tip the euro zone's second-biggest economy further into crisis.
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  • Orsted’s $9B lifeline and LSEG’s fair access shift - Sep 5, 2025

    Orsted’s $9B lifeline and LSEG’s fair access shift - Sep 5, 2025
    2025/09/05
    As of September 5, today’s news features developments in energy and infrastructure sectors, as well as shifts in international relations and market trends. The London Stock Exchange Group has ceded exclusive rights to the rooftop of its data centre building to allow fair access to rivals, following a British probe into whether the arrangement restricted competition for high-speed trading services. Currently, only LSEG, which operates the London Stock Exchange and supplies data and analytics, can use the rooftop for radio equipment used for high-speed connectivity, which helps traders access data across asset classes. Meanwhile, Danish offshore wind developer Orsted secured shareholder approval on Friday for a 9.4 billion dollars emergency rights issue aimed at staving off a crippling credit downgrade as the Trump administration targets its U.S. projects. Once celebrated as a trailblazer in offshore wind, the state-controlled group now finds itself in dire straits, grappling with industry-wide challenges and U.S. President Donald Trump'sopposition to wind power. Shifting to market dynamics, copper prices have seen modest gains influenced by constraints on refined copper production in China, the world's leading producer. The three-month copper price rose by 0.55%, primarily spurred by speculation over U.S. jobs data and shifts in scrap copper policies that are expected to alter refined copper supply. Despite the challenges faced by BYD, the world's largest electric vehicle manufacturer, which has downsized its sales target significantly, analysts anticipate a rebound in copper consumption due to its crucial role in electric vehicle manufacturing. Furthermore, some of Britain’s so-called altnet broadband providers, according to Reuters Breakingviews, are approaching a cliff edge. High interest rates, coupled with lower-than-expected demand for superfast fibre internet, mean that debt restructurings are now firmly on the cards. Larger players and incumbents like Virgin Media O2 could pick up some discounted assets. The episode should provoke a moment of reflection for investors in infrastructure – a concept that has at times been stretched to breaking point. On the international stage, China has extended its investigation into Canadian canola imports, which may lead to a crucial trade agreement balancing tariffs on Chinese vehicles and canola shipments.
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  • Ørsted sues Trump as U.S. tilts to gas and hydro - Sep 4, 2025

    Ørsted sues Trump as U.S. tilts to gas and hydro - Sep 4, 2025
    2025/09/04
    As of September 4, today’s news sees shifts in U.S. energy strategies and impactful legal and market movements reflecting broader economic trends. Ørsted has taken legal action against President Donald Trump’s administration in an effort to restart work on a nearly completed offshore wind project halted by the US government last month. The troubled Danish renewable energy company is seeking a court order that would let it finish its 1.5 billion dollars Revolution Wind project, which was meant to supply enough power for 350,000 homes in north-eastern US. But the US move to halt the development, driven by Trump’s deep scepticism about wind power, has hit Ørsted’s business and sent its shares to record lows. Meanwhile, U.S. power developers are planning to sharply boost natural gas and hydropower generation capacity and are cutting back on plans to add new solar and wind farms, according to recent data on the U.S. power capacity pipeline. As of mid-2025, U.S. power developers had just over 114,000 megawatts of natural gas capacity under construction or in so-called pre-construction, according to data from Global Energy Monitor. Turning to market updates, copper prices experienced a decline amid demand concerns, with three-month copper on the London Metal Exchange falling 0.61% to 9,915 dollars per metric ton. Despite supply constraints from dwindling Chinese production, market anxiety over a potential lackluster demand stifles price strength. The dollar remained steady amid signals of a weakening labor market, hinting at upcoming interest rate cuts. From the international front, SK On of South Korea has signed a significant agreement with U.S.-based Flatiron Energy Development to supply lithium iron phosphate (LFP) batteries, aiming to enhance its energy storage solutions in response to fluctuating electric vehicle demand. In the technology sphere, Chinese tech companies like Alibaba and ByteDance continue to seek Nvidia's AI chips, despite governmental pressures to avoid purchases. Their interest persists, particularly in the newly permitted H20 model and the anticipated B30A chip, which promises enhanced performance. On the automotive front, General Motors is scaling back production at key electric vehicle factories, reacting to the administration's withdrawal of tax credits for EVs. This aligns with broader adjustments within the industry as automakers brace for a slowdown in EV sales amidst changing market dynamics. In India, a recent tax cut on solar and wind devices is expected to positively impact clean energy costs. Furthermore, President Donald Trump has pushed the boundaries of executive power to impose sweeping tariffs, crack down on immigration and attempt to fire a Federal Reserve governor, and these actions could dominate the U.S. Supreme Court's upcoming docket.
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  • Optical fiber tariffs and Google’s court victory

    Optical fiber tariffs and Google’s court victory
    2025/09/03
    As of September 3, today’s news is dominated by significant developments in the optical fiber and tech sectors. China has announced new anti-dumping duties of 37.9% on specific optical fibers imported from the U.S., including Corning. Meanwhile, Google avoided harsh antitrust penalties for its conduct in the U.S. search market, with a judge barring the company from entering into exclusive deals but rejecting a forced spinoff of its Chrome browser and other sweeping remedies sought by the Justice Department. This decision cleared a significant regulatory hurdle for Google, resulting in an approximately 8% surge in Alphabet's shares and boosting market sentiment for tech stocks across Europe. On the financial side, copper prices have reached a five-month high, driven by expectations of an impending U.S. interest rate cut and a weaker dollar, although uncertainty stemming from U.S. import tariffs continues to affect sentiments. China's net imports of refined copper have dropped to a one-year low, a situation exacerbated by conflicts over tariffs, as the country shifts its supply dynamics to address the competition with the U.S. Furthermore, Invexans has announced its intention to sell 5% of its stake at Nexans through an accelerated bookbuilding offering, according to a filing. NKT awarded the power cable connection between Bornholm Energy Island and Zealand in Denmark, with contract valued at 650 million euros for offshore and onshore routes. Looking at the broader international scenario, tensions continue to escalate with Chinese President Xi Jinping's recent military parade, showcasing China's military capabilities alongside global leaders such as Russia's Vladimir Putin and North Korea's Kim Jong Un. This event underscores the geopolitical complexities that could have ramifications for economic relations and trade policies moving forward.
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    2 分