Prysmian stock surges, EVP Transmission highlights grid security - Oct 2, 2025

As of October 2, today’s news highlights Prysmian’s market rally and statements of Prysmian’s EVP Transmission at the Italian Energy Summit, alongside early talks between China and Malaysia on rare earth processing. Prysmian hit a new 52-week high at 87.24 euros per share. The stock closed up 4.46%, ranking among the top gainers on Piazza Affari. Meanwhile, Raul Gil, EVP Transmission at Prysmian, spoke today at the Italian Energy Summit, stressing the strategic role of cable transmission and the need for advanced technologies to safeguard critical infrastructure. He noted that damage to submarine cables, when caused maliciously, is often the result of low-tech tools such as anchors. To mitigate these risks, the focus must be on advanced solutions - including state-of-the-art vessels, monitoring sensors, and efficient repair tools. Gil added that the energy transition cannot take place without cable transmission. Prysmian, he said, is a technology leader, which is why innovation and engineering in its projects are essential to protect the company’s assets that are strategic for Italy and Europe. In other relevant news, China and Malaysia are in early talks for a project to process rare earths, with sovereign wealth fund Khazanah Nasional likely to partner with a Chinese state-owned firm to build a refinery in the Southeast Asian nation, people familiar with the matter said. If the joint venture takes shape, it would represent a significant policy departure for China, the world's top supplier and refiner of rare earths, which has banned export of its processing technology to protect its dominance of the industry. In commodity markets, supply concerns alongside a weakening U.S. dollar have propelled copper prices to a 16-month high, driven by fears of shortages following operational disruptions in major mines across Indonesia, the Democratic Republic of Congo, and Chile. Turning to other market developments, TotalEnergies announced the sale of a minority stake in its Bifrost carbon capture and storage project in Denmark to CarbonVault. This deal is strategic for expanding CO2 storage capacities, aiming for significant reductions in emissions by 2030. Meanwhile, Tesla's third-quarter deliveries surpassed estimates due to a rush of buyers seeking to capitalize on expiring U.S. EV tax credits. However, concerns linger about potential sales declines in the upcoming quarters due to the expiration of these incentives, influencing market sentiments towards the company. In global scenarios, South Africa's BMW CEO advocated for a collaborative approach between South Africa and Europe to establish an alternative electric vehicle battery supply chain, reducing dependence on China. This initiative signals a growing trend of nations reevaluating their supply chains in response to geopolitical pressures. Further international discussions are taking place regarding the use of frozen Russian assets to finance loans for Ukraine, with Belgian Prime Minister Bart De Wever urging EU states to share the risk involved in such endeavors.