Prysmian criticizes EU industrial plan while hyperscaler demand lifts outlook - 15 May 2026

As of May 15, today's news highlights Prysmian's critical response to the exclusion of cables from the EU's proposed Industrial Acceleration Act, alongside market movements influenced by inflation concerns and geopolitical tensions. Prysmian has expressed significant frustration regarding its exclusion from the EU's Industrial Acceleration Act, a legislative proposal aimed at fostering low-carbon technologies, Renewables Now reported. Raul Gil, Prysmian’s EVP Transmission, commented at the WindEurope 2026 event that the cable sector was unexpectedly dropped from the IAA at the last minute. He described this decision as fundamentally misguided, emphasizing that the transition to renewable energy, electrification, and security of supply cannot progress without robust grid infrastructures. Meanwhile, Bloomberg Intelligence reported that Prysmian’s forward P/E premium over the European capital-goods sector has reached record levels, supported by stronger earnings visibility. Growth is expected to be driven by data-center demand and the Transmission business, where a backlog-to-sales ratio above 5x supports medium-term Ebitda expansion. Potential multiyear deals with hyperscalers and greater exposure to North America add further upside. In market updates, Nexans has achieved regulatory clearance from the U.S. Federal Trade Commission, allowing it to proceed with the acquisition of Republic Wire, bolstering its expansion strategy in the U.S. market. Meanwhile, copper prices have retreated due to a stronger dollar and lackluster demand from Chinese buyers, as traders brace for further price drops. Looking at broader market trends, global stock selloffs persisted as inflation concerns led to rising bond yields. The technology sector took a hit, particularly following comments from U.S. President Trump during his visit to China, which yielded no substantive trade breakthroughs. The heightened uncertainty surrounding the geopolitical landscape, especially regarding the Middle East and trade relations with China, contributed to increased volatility in Wall Street indexes. In the international arena, President Trump's meeting with Chinese leaders did not result in major agreements despite extensive diplomatic gestures, and discussions will continue in subsequent meetings. The establishment of trade and investment councils between the U.S. and China marks a tentative step in addressing mutual concerns related to market access and tariffs.