Nexans share breaks through its 118.60 € support level and loses 5% despite Q3 results
The Courbevoie cable manufacturer declined sharply in mid-morning trading, in a Paris market oriented downward. This decline occurs on the same day as the publication of its third quarter results, with annual objectives confirmed, and brings it to breach a technical floor monitored for several weeks.
A floor at 118.60 € breached following a 17.7% decline in one month
The Nexans share loses 5% to 115.90 €, compared to 122 € at the previous close. The security broke through its lowest level in the last 30 trading sessions during today's session, at 118.60 €, a level that now becomes a resistance point. At the same time, the SBF 120 declined 1.42% and the CAC 40 1.45%, placing Nexans among the strongest losses in the index. The decline extends a downtrend that began several weeks ago: -10.4% over seven days and -17.7% over one month.
The price is 10.1% below its 20-day moving average (128.91 €) and 15.2% below its 200-day moving average (136.68 €). The RSI at 29 is approaching the oversold zone, while the MACD remains negative. Today's session is thus part of a bearish dynamic established since the beginning of the month.
Revenue up 21.4% in the third quarter, but one segment in decline
Nexans published this morning a standard revenue of 1,698.2 M€ for the third quarter 2026, up 21.4% year-over-year. Organic growth reached 9.0%, to which is added 9.6% from scope effects related to acquisitions. The group confirmed its annual outlook raised in July, targeting adjusted EBITDA between 770 and 840 M€. The quarter's figures nonetheless show contrasting trajectories: PWR-Grid grew 14.8% organically and PWR-Connect 10.5%, while PWR-Transmission, the high-voltage transmission business, declined 4.0%.
The adjusted order book for this latter segment stands at 7.8 billion euros, up 0.7% compared to June 30. On the analyst side, CIC Market Solutions maintained its buy rating today with a target of 170 €, significantly above the current price. The group also announced that it has been selected by Red Eléctrica as a preferred supplier for a link between Majorca and Minorca.
