Prysmian soars on tariffs. A copper edge and Italy’s role - Jul 9, 2025

As of July 9, several market fluctuations appear influenced by U.S. copper tariffs, with Prysmian emerging as a potential beneficiary in the sector. Prysmian's shares climbed to their highest point since February, rising up to 4% in Milan after the company indicated it stands to gain from President Trump’s proposed 50% tariff on copper imports. Analysts, notably from Citigroup and Jefferies, have pegged Prysmian as a “relative tariff winner” due to its substantial U.S. operations and domestic sourcing of copper, positioning it favorably against competitors. A spokesperson emphasized their proactive stance in assessing the effects of the tariffs, aligning prices in anticipation of market changes. Furthermore, Alessio Butti, Undersecretary of State to the Presidency of the Council of Ministers, emphasized that the long-distance submarine telecommunications cable supply chain is of strategic importance for Italy, which participates in three of the six key segments thanks to operators such as Prysmian and Sparkle. However, Italy lacks national assets for the installation and maintenance of these cables and faces challenges with long-distance signal repeater technologies. Turning to market updates, the overall market reacted, with European mining stocks, particularly those connected to copper, experiencing declines as traders began adjusting to the new tariffs. Reports indicated a spike in U.S. copper shipments in advance of the tariffs, which are expected to take effect imminently. In global scenarios, Trump's announcement reshapes the trading landscape, stirring volatility among global commodities, especially copper, vital for various industries including electric vehicles and construction. Analysts predict substantial disruptions in metal flows following the tariffs, as U.S. prices surged significantly. Furthermore, Britain secured a deal to unlock 7.5 billion pound ($10 billion) in investments with Japan's Sumitomo Corp 8053.T, funding clean energy infrastructure such as offshore wind and hydrogen projects over the next 10 years, the government said on Wednesday. In political news, Israeli Prime Minister Netanyahu emphasized discussions with Trump regarding hostages in Gaza while addressing regional security. Efforts toward a ceasefire between Israel and Hamas are reportedly ongoing, amid rising tensions and military actions in the region.