Prysmian drops after FT report on potential rollback of US metal derivatives tariffs

Prysmian SpA

13/02/2026 10:33

** Shares of Italian cable maker Prysmian PRY.MI fall as much as 7.8%

** U.S. President Donald Trump plans to scale back some tariffs on steel and aluminium goods, says Financial Times report citing people familiar with the matter

** Shares on track for worst day in 10 months if losses hold

** Citigroup believes news is a negative read for PRY

** "Should aluminium cable tariffs be eliminated, while keeping commodity tariffs in place, this could advantage foreign competitors in practice, given their access to cheaper raw materials" - Citi

** Adds prospect of copper cable tariffs, which accounts for majority of Prysmian's U.S. industrial and construction (I&C) sales by value, looks more remote

** Sector peers including France's Nexans NEXS.PA and Denmark's NKT NKT.CO also down around 3% to 4%

(Reporting by Laura Contemori)

((Laura.contemori@thomsonreuters.com))