Nexans among the biggest declines on the SBF 120: stock falls 2%

A decline that brings the stock below its moving averages, near its support level

At €133.40, the stock loses 2.2% compared to the previous close of €136.40, while the SBF 120 falls 0.9% and the CAC 40 nearly 1%. In this ranking, Nexans is among the strongest declines in the index. The stock falls below its three moving averages: the MA20 at €137.01 is 2.6% above the price, the MA50 at €137.11 is 2.7%, the MA200 at €136.63 is 2.4%. On Friday, the rebound had precisely brought the stock into contact with the MA200, which it was unable to maintain.

The support at €131.40 is now less than 2% away from the price, while resistance is located at €143.50. The RSI at 49 remains neutral: today's decline is therefore not accompanied by any oversold signal. Over the week, the stock loses 1.6%. The market context is tense: French rates have risen sharply in recent weeks (10-year OAT at 4.90% according to the October 2 reading), and Brent remains above $100 per barrel.

2026 outlook raised in July and the integration of Republic Wire in the background

When publishing the first half of 2026 results on July 29, the group had raised its outlook for the year, targeting EBITDA of €805M. It also cited among the areas of attention the normalization of PWR-Transmission, whose organic growth was -6.2% in the second quarter. On the opportunities side, the acquisition of Republic Wire opens up the American low-voltage market for the group, with approximately €23M in synergies expected at full operating capacity within three years. The group refinanced this transaction through a €500M bond issue, completed in September.

Nexans also bought back €37M of shares over twelve months, representing 0.6% of its market capitalization. Over three months, the stock has lost 6.1%, and over one year it has gained 1.9%. The support at €131.40 is the closest technical level.