Prysmian cuts YOFC stake, eyes strong Q2 growth - Jul 24, 2025 Podcast Por arte de portada

Prysmian cuts YOFC stake, eyes strong Q2 growth - Jul 24, 2025

Prysmian cuts YOFC stake, eyes strong Q2 growth - Jul 24, 2025

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As of July 24, today’s news features Prysmian's stake sale in YOFC, alongside developments in the energy and commodities markets. Prysmian has announced the sale of approximately 5% of its stake in Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) for 19.50 Hong Kong dollars per share via its subsidiary Draka Comteq BV, generating around about 79 million euros. This transaction reduces Prysmian's ownership in YOFC to approximately 10% and includes a 60-day lock-up period for the remaining shares post-placement. Furthermore, analysts' estimates ahead of Prysmian's upcoming quarterly results indicate a projected group revenue of 4.81 billion euros for Q2 2025, up from 4.13 billion euros in Q2 2024, with adjusted EBITDA expected to rise to 581 million euros from 457 million euros year-on-year. Turning to market updates, Tesla’s shares fell nearly 6% following disappointing quarterly sales figures and a lack of favorable guidance from CEO Elon Musk regarding future profits. The electric vehicle manufacturer is facing challenges tied to regulatory changes and market conditions affecting sales. Furthermore, Rio Tinto is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Meanwhile, U.S. copper futures reached a record high as anticipation builds around impending import tariffs on the metal, possibly influencing global supply chains and pricing strategies. From a wider economic perspective, the energy market shows signs of turbulence as the U.S. government moves to tighten incentives for renewable energy. This shift has raised concerns about a slowdown in clean energy investments, potentially impacting the future of solar and wind projects within the U.S. and EU. In Europe, the solar energy rollout is projected to decline for the first time in a decade, reflecting adjusted governmental subsidies and market dynamics. On the global stage, tensions between China and the EU were front and center during a summit where President Xi Jinping urged more cooperative trade practices amidst ongoing disputes regarding tariffs and market imbalances. In the same vein, the EU also advanced its counter-tariff plans against the U.S., preparing for potential trade escalations as negotiations unfold.
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