Nexans Shares Jump 2.77% Amid Easing Iran-USA Tensions
Nexans significantly advanced this Wednesday, March 25, at midday, showing a rise of 2.77% to 118.80 euros, after closing at 115.60 euros the previous day. The stock of the French cable manufacturer is moving in the wake of a CAC 40 which is also sharply up by 1.51% during the session, at 7,861 points. This rebound occurs in a context of geopolitical easing following Donald Trump's announcement of resumed dialogue between Washington and Tehran, which had already triggered a bullish turnaround on European markets.
Nexans Records Its Best Session in Days
Nexans displays its best session in several days this Wednesday, with a weekly gain now reaching 1.37%. However, the stock remains down by 4.81% over three months, indicating a still fragile medium-term trend. The current price of 118.80 euros remains significantly below the 50-day moving average (126.27 euros) and the 200-day average (123.72 euros), both of which act as intermediate resistance levels. The RSI, an indicator measuring the relative strength of the stock, is at 41, a still moderate level that reflects the absence of marked buying pressure despite today's surge. The most significant technical support is at 112.60 euros, a threshold that has not been tested during the recent weak phase. The lower Bollinger band, at 112.99 euros, confirms this area as a short-term technical floor. Today's progress brings the price closer to its 20-day moving average (119.30 euros), crossing which would constitute an encouraging first signal.
Nexans' Rise Part of a Favorable Sector Movement
Nexans' increase is part of a favorable sector movement. Among comparable industrial stocks, Schneider Electric is up by 2.65% and Airbus by 2.28% during the session. The SBF 120 is up by 1.54%, confirming a fairly generalized buying momentum on the Paris stock exchange. The geopolitical easing around the Strait of Hormuz, following the postponement of American strikes against Iran announced on March 23, contributes to improving the climate on European markets, sensitive to risks weighing on global energy supply. On the calendar front, the French cable manufacturer will publish its first-quarter results on April 28, followed by the general assembly scheduled for May 21. These events could act as catalysts for the stock, whose annual performance remains solid with a progression of 22.92% over a year. It is worth noting that the one-month volatility stands at 10.48, a relatively contained level for an industrial stock, while the beta of 0.12 indicates very limited sensitivity to general market fluctuations.
