Nexans tops the SBF 120 after a cable contract in Greece
The cable maker from Courbevoie stands out clearly in a Parisian market trending lower. It ranks among the best performers of its index after a more hesitant session, with an order that opens a new interconnection project.
A cable contract in Greece, unrelated to the concerns shaking tech stocks
The move of the day is based on a company-specific event. Nexans will supply 420 km of cables for the Corinth-Kos interconnection, as a subcontractor to Hellenic Cables, the awardee of the project designated by the Greek grid operator IPTO. The order feeds its production lines for impregnated paper-insulated cables from late 2026 through mid-2028.
The stock gains 4.06% to €123.10, while the SBF 120 falls 0.88% and the CAC 40 drops by the same amount, in a session dominated by the correction in technology stocks on Wall Street and then in Asia. Nexans ranks second in the index, just behind Air France-KLM.
A rebound brings the stock back to its 20-day moving average, still well below its longer-term averages
This rise follows a difficult month, with a 7.79% decline over thirty days and 4.13% over the week. The share price is back in contact with its 20-day moving average (MM20) at €122.54, but remains below the 50-day moving average (MM50) at €130.63 and the 200-day moving average (MM200) at €136.47, a gap of 9.8% with the latter.
The RSI at 48 remains neutral and leaves room for either a continuation of the rebound or a resumption of the decline.
When the nine-month 2026 results were published on October 22, the group confirmed its annual targets, with EBITDA targeted at around €805 million for the following year, while signaling a normalization of PWR-Transmission activity. The support at €113.60 and the resistance at €135.60 now frame the trading range.
