Quinenco trims Nexans stake as US tariff confusion deepens - Feb 24, 2026

As of February 24, today’s news highlights a significant stake sale in Nexans by Quinenco and fresh confusion over a temporary U.S. global import tariff and its possible increase. Quinenco has concluded the sale of a 5% stake in Nexans, raising approximately 310 million dollars through the sale of about 2.2 million shares priced at 120.01 euros each. This divestiture reduces Quinenco's indirect ownership in Nexans from 9.2% to 4.1%. The funds raised are intended for new strategic investments, reinforcing Quinenco's focus on expanding in the energy and infrastructure sectors, both in Chile and internationally. Meanwhile, the United States began collecting a temporary new 10% global import tariff today, but the Trump administration was working to increase it to 15%, a White House official said, sowing confusion over President Donald Trump's tariff policies after last week's Supreme Court defeat. Turning to the markets, Spanish utility Endesa has announced plans to boost investments substantially under a new three-year strategy, targeting upgrades to power networks while increasing shareholder returns. The company plans to allocate 10.6 billion euros, with 5.5 billion euros set aside specifically for network improvements, a 40% increase over previous investments. In broader macroeconomic scenarios, copper continues to drive profitability for major miners like BHP Group and Rio Tinto. BHP reported a 22% year-on-year profit increase, attributed largely to copper, which now constitutes over half of its operating earnings. Similarly, Rio Tinto has seen its earnings distribution shift, with copper's contribution rising significantly as iron ore earnings diminish. The ongoing demand for copper is closely linked to its essential role in the energy transition, further complicating the search for new sources of this vital resource. In regulatory news, Tesla faces a lawsuit alleging discriminatory hiring practices that favor foreign visa holders over American citizens. The case has been allowed to proceed by a U.S. District Judge, amid concerns regarding the company’s recruitment strategies, particularly for engineering positions.