BofA backs Prysmian as copper hits new highs - Dec 5, 2025

As of December 5, today's news sees developments surrounding Prysmian, which saw a positive assessment from Bank of America, and market updates on copper. Bank of America has reaffirmed its “buy” rating on Prysmian, lifting its target price to 100 euros from 92 euros. The bank highlighted the group’s strong growth outlook in the transmission business and said tariff-driven benefits tied to electrification are likely to start feeding through in 2026. Turning to market updates, copper prices surged to a historic high, attributed to a revised positive outlook from Citi, alongside a weakened dollar ahead of anticipated U.S. interest rate cuts. On the London Metal Exchange, benchmark copper rose by 1.4% to 11,609.50 dollars per ton, nearing a record peak. Analysts are optimistic, citing emerging supply shortages as a significant driver behind the price increase. In broader scenarios, Poste Italiane is exploring strategic options, including the potential sale of its broadband arm to Telecom Italia, as it seeks to maintain a stake close to the 30% buyout threshold stipulated by upcoming government reforms. This would involve Poste potentially receiving TIM shares as compensation. Additionally, it is notable that India's Adani Group and Hindalco Industries are looking into investments in Peru's copper sector, aiming to leverage growing demand amid new trade discussions between the countries. In the tech regulatory landscape, Europe continues its stringent approach towards major tech firms, recently imposing significant fines on both Google and Elon Musk’s X platform for violations of EU rules, showcasing its resolve against U.S. influence amid ongoing global negotiations. Lastly, the meeting between President Putin and Prime Minister Modi resulted in agreements to bolster trade and defense cooperation, despite India's simultaneous trade discussions with the U.S. aimed at addressing tariffs on Russian commodity imports.