Mediobanca backs Prysmian on cable innovation - 9 Jul 2026

As of July 9, today’s news sees developments in the energy sector and broader market dynamics shaped by geopolitical tensions and supply chain challenges. Mediobanca has maintained an “outperform” recommendation for Prysmian. Analysts highlighted the recent introduction of a new underwater cable burial system, developed in partnership with the British engineering firm Smd. This innovative technology allows for the burial of cables up to five meters deep, enhancing their protection against potential damage. In other market news, Denmark’s state-owned credit fund EIFO announced a substantial 475 million euros guarantee for the SuedLink project, aimed at improving Germany's energy infrastructure. This initiative will facilitate the construction of 450 kilometers of high-voltage underground cables to transmit wind power from northern to southern Germany, increasing the grid's capacity by 4 gigawatts. The project is expected to become operational by 2028, with Danish manufacturer NKT involved in cable supply and installation. The development underscores efforts to bolster European energy autonomy and support a transition towards electrification. Meanwhile, concerns are mounting in the European renewable energy sector regarding a recent EU ban on funding for Chinese-made inverters, which are critical for solar and wind projects. This policy could hinder expansion efforts, particularly in poorer Central and Eastern European countries that rely heavily on public financing. The letter sent to European Commission President Ursula von der Leyen by industry stakeholders warns that the current dependency on Chinese supply chains could lead to project delays and increased costs, halting the energy transition in several regions. On the international front, tensions in the Gulf region have escalated, with Iranian armed forces targeting U.S. military infrastructure following American airstrikes in Iran. This conflict is straining a fragile ceasefire established earlier and has raised concerns over global oil supplies. After initial spikes in oil prices due to these developments, market responses have varied, indicating potential tactical maneuvers rather than a full-blown escalation of hostilities.