Nexans share falls below its 126.70 € support level and loses 3%
The Courbevoie cable manufacturer is losing ground this Monday in a sharply declining Paris market. The decline pushes the stock below a technical floor that has been closely monitored for several sessions and extends a pullback that began at the start of the month.
A 126.70 € support level breached in a CAC 40 down 1.35%
The Nexans share is down 3.16% to 122.70 € in session, compared with 126.70 € at the last close. This level is precisely that of the support threshold, now broken below. The stock ranks among the biggest declines in the SBF 120, which is falling 1.33%, as is the CAC 40 (-1.35%), in a session marked by concerns about French debt.
The 10-year OAT yield stood at 4.79% at the last reading on October 16. The price is also below its three moving averages: the gap is 7.77% with the 20-day MA, 10.22% with the 50-day MA and 10.33% with the 200-day MA. The decline reaches 5.1% over one week and 10.31% over one month, with an RSI at 37.85, still far from the oversold zone.
Raised guidance in July and third quarter results on October 22
Upon publication of the first half 2026 results on July 29, the group had raised its outlook for 2026, with an EBITDA target of 805 million euros. Among the risks cited at that time was an unfavorable mix effect in PWR-Connect, whose margin had fallen to 11.8% from 13.6%. On the opportunities side, the acquisition of Republic Wire opens access to the U.S. low-voltage market, with approximately 23 million euros in synergies expected on a run-rate basis within three years.
The group will publish its third quarter 2026 results on October 22. It has also repurchased 43 million euros worth of shares over twelve months, representing 0.8% of its market capitalization, according to its latest disclosure read on October 12.
