Banca Akros lifts Prysmian, Japan wind seeks support - Sep 29, 2025

As of September 29, today’s news is led by Banca Akros’ upgrade on Prysmian and renewed pressure from Japan’s offshore wind industry for policy support. Banca Akros has raised its target price on Prysmian from 75 euros to 90 euros, while confirming its “accumulate” rating. The broker revised estimates upward to reflect the positive impact of U.S. copper tariffs and stronger prospects in the Digital Solutions segment. Meanwhile, Italian and Spanish stocks have emerged as a preferred wager on Europe’s domestic recovery, turning the tables on France as it slips from favored market to regional problem child, Bloomberg reported. “The Italian FTSE MIB has the most positive sector skew with regards to UBS Research view, mainly thanks to high banks weight as well as electrification,” UBS derivatives strategist Kieran Diamond said. He cited stocks including UniCredit, Intesa, Enel, Prysman and Terna. In other news, the offshore wind sector in Japan is urging the government to include it in a scheme that offers fixed revenue guarantees for up to 20 years. This move follows Mitsubishi-led consortiums withdrawing from three projects due to rising costs. Currently, the long-term decarbonised capacity auction only allows facilities from certain energy sectors, excluding offshore wind. Industry insiders consider this inclusion critical for the future of offshore investments in Japan. Turning to market updates, copper prices have seen an increase, aided by a weaker dollar and supply concerns stemming from the recent catastrophic events at the Grasberg mine in Indonesia. This mine, which represents a significant portion of global copper output, faced a mud rush that halted operations and resulted in casualties. Benchmark copper is now priced at 10,400 dollars per metric ton following a 5% rise this month. On a broader scale, BP is moving forward with a substantial 5 billion dollars offshore drilling project in the U.S. Gulf of Mexico, highlighting the company’s increased focus on U.S. oil and gas production. The project aims to commence production in 2030 with a floating platform capable of yielding a significant 80,000 barrels of crude daily. TotalEnergies also announced plans to sell 50% of its North American solar portfolio for 950 million dollars, intending to reinvest in U.S. gas assets. Meanwhile, in the United States, budget negotiations are intensifying as Republican and Democratic leaders are at an impasse over government funding, which could trigger shutdowns if not resolved. President Trump convened a meeting to address the standoff but has encountered pushback from Democrats regarding a temporary funding plan. On the geopolitical front, President Trump held discussions with Israeli Prime Minister Netanyahu aimed at advancing a proposed peace agreement concerning Gaza, emphasizing the importance of U.S.-Israel relations against rising international pressures to recognize Palestinian statehood.