Prysmian jumps as oil nears $120 and AI power demand surges - Mar 31, 2026

As of March 31, today’s news features escalating global tensions and their implications for energy markets, along with developments in the tech sector and European financial movements. Amidst this backdrop, Prysmian stands out in the stock market, gaining 4% in today's trading, complementing a broader positive trend in the European markets despite heightened oil prices that have climbed to nearly 120 dollars per barrel. The surge comes as investors react to shifting sentiments regarding the U.S.-Iran conflict, which has raised anxiety around energy supplies. This was prompted by statements from Donald Trump indicating a possible easing of hostilities, which may influence European market dynamics. Meanwhile, significant shifts are occurring in the tech sector where S&P Global estimates that major companies, including Microsoft and Amazon, plan to invest about 635 billion euros in AI-related infrastructure by 2026, a steep increase from previous years. However, high energy costs linked to the ongoing Middle East crisis pose a challenge to these ambitious plans, potentially forcing firms to reassess their capital expenditures. The energy sector is already feeling these pressures, as evidenced by Constellation Energy forecasting lower-than-expected profits in 2026 as power demand continues to grow due to the rise of AI and electric heating. In the UK, record output from wind energy has provided a buffer against the volatile fossil fuel market, allowing electricity generation from wind farms to soar 31% compared to last year. This boost in renewable energy production has come at a crucial time as the geopolitical landscape shifts due to the Iran conflict, which has disrupted traditional fossil fuel supplies. On the corporate landscape, TK Elevator is still weighing an IPO amidst reports of potential acquisition talks with Finland's Kone, which if realized, would create the world's largest lift manufacturer. The volatility in the equity market could influence this decision, as both strategic owners consider various paths forward. On a global stage, tensions escalated further when Iran attacked a Kuwait-flagged oil tanker, raising concerns over safe passage through the Strait of Hormuz, a critical artery for global oil supplies. This incident highlights ongoing geopolitical risks that are feeding into worldwide energy price dynamics. Additionally, the European energy sector is demonstrating resilience as companies plan expansions in the U.S. power market, aiming to capitalize on surging electricity demands. However, this ambition is juxtaposed with challenges faced in Brazil's renewable sector, where operational restrictions are forcing some companies to downsize operations.