Nexans share climbs nearly 4% and targets its resistance level at 144.70 €
The Courbevoie cable manufacturer gains nearly 4% during the session, rising to the top of the SBF 120 while the Paris index advances modestly. The momentum follows the bond refinancing operation completed earlier in the week, which strengthens the group's financial structure following the acquisition of Republic Wire.
A surge of nearly 4% that brings the share to the threshold of its historical resistance at 144.70 €
Nexans climbs 3.88% to 144.60 € during the session, ranking second in the SBF 120, thus among the index's strongest gains. This level places the share less than 0.10 € away from its resistance at 144.70 €, a threshold already tested in late August during a temporary breakout. The price is now clearly trading above its three moving averages: 3.54% above the 20-day MA at 139.66 €, 5.78% above the 50-day MA at 136.70 € and 6.48% above the 200-day MA at 135.80 €.
This configuration contrasts with the situation at the beginning of September, when the share briefly fell below its 20-day MA. Over the week, gains reach 4.33%, and over one month, the share displays 4.86%. The RSI at 51 remains in neutral territory, showing no overbought signal despite the day's advance, reflecting an orderly recovery rather than a runaway movement.
The 500 million euro bond issuance puts Nexans back on a debt reduction trajectory following Republic Wire
The recent catalyst is identifiable: the 500 million euro bond issuance at 4.25%, announced on September 9, which enables the replacement of the bridge loan contracted to finance the purchase of Republic Wire, an American cable manufacturer integrated to strengthen the group's industrial footprint in North America. This substitution of short-term debt by fixed-rate financing is part of a balance sheet management logic, particularly as the ECB raised its key rate the previous day by 25 basis points to 2.50%, intensifying pressure on financing costs in the eurozone. Upon the publication of Q1 2026 results on April 28, management had identified the Republic Wire acquisition as a consolidation opportunity in North America, while flagging American tariffs as a risk to certain activities. The resistance level at 144.70 € remains the immediate threshold to monitor: a sustained breakout above this level would open an unprecedented technical configuration in recent months.
