The NKT share is gaining momentum in early trading on Monday. This follows increases in the company’s competitors, French Nexans and Italian Prysmian, on Thursday and Friday, while Danish investors celebrated Ascension Day.

After one hour of trading, NKT is up 7.7% at DKK 602.50. This continues the positive trend this year, where the expansion of green energy solutions has led to overflowing order books.

On Thursday and Friday, Prysmian celebrated its quarterly results with increases of 3.8% and 2.2% respectively.

Adjusted earnings before interest, taxes, depreciation and amortization, EBITDA, was slightly better than expected according to estimates gathered by Bloomberg News.

At the same time, Prysmian clarified its forecast for EBITDA for the year to the upper end of EUR 1.58-1.68bn.

After the report was released, several stock exchange houses, including Mediobanca, Bernstein and Morgan Stanley, raised their price targets for Prysmian, which also rose 0.5% on Monday.

In Paris, French cable manufacturer Nexans also rose 0.8%, following increases of 2.3% on Friday and 2% on Thursday.

Overall, NKT is now up almost 30 percent this year. Prysmian is up almost 37% and Nexans is up 38%.

(Translated using DeepL with additional editing by Catherine Brett)