Nexans share drops 5.5% and falls back below its moving averages
The Courbevoie cable manufacturer is recording one of the most marked declines in the SBF 120 this Monday, in a market context already weakened by a resurgence of volatility and persistent geopolitical tensions in the Middle East. The decline wipes out the rebound achieved at the end of last week and places the security below all of its moving averages, in a technical configuration that is deteriorating.
A drop that cancels Friday's rebound and breaks through moving averages
Nexans loses 5.41% in trading to 134.50 €, erasing in one stroke the gain of nearly 4% posted on Friday, September 11. The security is now below its three moving averages: the MA50 is at 136.79 €, the MA200 at 135.89 € and the MA20 at 139.64 €, representing respective gaps of -1.67%, -1.02% and -3.68%. This configuration, where the price simultaneously passes below all three moving references after briefly recovering them, accentuates the selling pressure observable since mid-August.
The nearest support level remains the threshold at 129.20 €, which had already served as support during previous weakness episodes. The RSI at 56, still in neutral territory before the session, had not signaled any particular exhaustion: the brutality of the decline therefore contrasts with the absence of prior technical signal. Over the rolling week, the security is now down 1.54%, and over one month down 5.61%, reflecting sustained pressure.
A hostile macro context driven by the "super week" of central banks and Brent surge
The decline of Nexans is part of an overall unfavorable trading session: the CAC 40 loses 0.86% and the SBF 120 declines 0.84% in trading. The VIX jumps 14.2% to 18.09, a sign of a sudden increase in appetite for protection. This Monday marks the start of a busy week for major central banks: the Fed meets Wednesday, the Bank of England Thursday and the Bank of Japan Friday, in a context of U.S. inflation at 3.4% in August. Money markets assess the probability of a U.S. rate hike this week at more than 85%, which mechanically weighs on capital-intensive industrial stocks such as cable manufacturers.
Meanwhile, Brent rises to 108.41 $/barrel in trading, following the closure of the Saudi East-West pipeline following drone attacks, and persistent tensions around the Strait of Hormuz. An environment of high raw material costs and tighter rates is unfavorable to the margins of a group whose 500 million euro bond issue at 4.25% completed on September 10 was specifically aimed at strengthening the balance sheet following the Republic Wire acquisition. When publishing S1 2026 results (July 29, 2026), Nexans had raised its EBITDA outlook to 805 million euros for the fiscal year, relying in particular on synergies expected from Republic Wire and on a full order book through mid-2028 in the PWR-Transmission division. The support threshold at 129.20 € now constitutes the downside reference to monitor for the week.
