Prysmian jumps on UBS upgrade as Big Tech turns to nuclear power - Apr 10, 2026

As of April 10, today’s news features Prysmian's strong performance on the stock market, bolstered by a favorable rating from UBS, alongside notable developments in the energy sector, particularly surrounding nuclear power and geopolitical tensions in the Strait of Hormuz. Prysmian's shares saw an increase following UBS's upgrade of its rating to Buy and a raised target price from 105 euros to 135 euros. UBS reported that its revised EBITDA estimates for 2028 significantly exceed consensus expectations, particularly in Prysmian's digital solutions and transmission segments, which are projected to drive substantial earnings growth through 2028. Turning to market updates, major technology firms are increasingly investing in next-generation nuclear power to meet the rising electricity demands created by artificial intelligence technology. Companies like Meta, Amazon, and Alphabet are entering partnerships with nuclear technology firms to develop modular reactors that promise increased energy efficiency and scalability. These developments are paving the way for what could become a new energy landscape, as traditional financing methods face challenges. In broader scenarios, geopolitical tensions are escalating around the Strait of Hormuz, with U.S. President Donald Trump warning Iran against imposing tolls on ships transiting the strait. This warning comes amid a global energy crisis that has prompted Japan to release additional emergency oil supplies due to frozen tanker traffic and significant disruptions in Gulf energy production. Reports indicate that Iran might demand fees in cryptocurrency from tankers passing through the strait, intensifying the situation as oil prices have surged by about 50%. In related world news, despite a recent ceasefire aimed at halting U.S. and Israeli airstrikes on Iranian positions, the situation remains tense, with continued hostilities in Lebanon and the strait still closed for passage. This situation underlines the fragility of energy supply chains, which have been severely affected by the ongoing conflicts. Market activity also saw Glencore acquiring a 45% stake in an aluminum recycling facility in South Carolina, reflecting strategic moves to strengthen supply chains amidst ongoing conflicts affecting raw material prices. Additionally, Eni, the Italian energy giant, is set for a record fifth term for CEO Claudio Descalzi, highlighting stability in leadership within the Western oil sector during turbulent times.