🔴 NEX.PA declines 4.1% following completion of Autoelectric sale and Hydro low-carbon aluminum deal

NEX.PA is trading 4.1% down at $135.40 today, following two significant company-specific developments:

• Nexans announced the completion of the sale of its Autoelectric wiring harness business to Motherson for €207 million, marking the final step in its transformation into a pure electrification player.
• The company also signed a five-year supply agreement with Hydro for approximately 85,000 tonnes of low-carbon aluminium wire rod to support Europe's power grid modernization.