Nexans stock among the top performers of the SBF 120
The Courbevoie cable manufacturer is posting one of the best performances of the SBF 120 this Friday, in a Paris index itself showing moderate gains. The rebound is occurring against the backdrop of raised guidance for 2026 and a technical setup that has been consolidating since the beginning of the week.
A rebound of 2.35% that brings the stock back into contact with the 20-day moving average, within a rising SBF 120
Nexans gains 2.35% to €139.10 during trading, ranking among the strongest gainers of the SBF 120 as the index advances 0.45%. The stock has been operating since the beginning of the week within a consolidation zone between its support at €131.40 and its resistance at €143.50, and is gradually approaching the latter. Today's gain brings the price back into contact with the 20-day moving average at €138.71, with a gap of only +0.28%, while the 50-day MA (€137.17) and the 200-day MA (€136.35) both remain clearly below the price, offering a cushion of 1.41% and 2.02% respectively. The RSI at 46 remains neutral, showing no signs of excess in either direction, which leaves room before approaching the €143.50 resistance level. The move above the three moving averages performed on Monday, September 21, constitutes the starting point of this technical consolidation, following a turbulent sequence at the start of the month.
Solid half-year results and raised guidance anchor the group's outlook for 2026
When publishing first-half 2026 results on July 29, Nexans raised its annual targets, now aiming for EBITDA of 805 million euros for the full year. The momentum is supported in particular by the acquisition of Republic Wire, which opens to the group the American low-voltage market, estimated at 12 billion euros, with expected synergies of around 23 million euros at steady-state within three years. The MI line of the PWR-Transmission division is booked until mid-2028, with a targeted margin above 17% at that horizon, providing visibility on high-voltage activity.
In September, a 500 million euro bond issue at 4.25% made it possible to replace the bridge loan related to this acquisition, strengthening the group's financial structure. These fundamental elements are occurring in a context where Nexans shows a decline limited to 6.46% over three months, in a market that remains influenced by elevated U.S. interest rates and a strong dollar. The €143.50 resistance level, already approached at the end of August, remains the hurdle to clear to confirm the short-term uptrend.
