As of November 4, today’s news features a renewed focus on Prysmian following fresh analyst upgrades, alongside growing investor caution over stretched global equity valuations. Intesa Sanpaolo raised its price target on Prysmian to 99.5 euros from 99 euros, reiterating a Buy rating. Analysts described the cable maker’s quarterly results as “solid” and said they have updated their estimates accordingly. They added that Prysmian’s equity story remains intact and that any weakness in the share price should be seen as “a good opportunity to accumulate positions.” In broader market news, Wall Street chief executives said investors should brace for an equity market drop of more than 10% in the next 12 to 24 months, and that such a correction may be a positive development. Corporate earnings are strong but “what’s challenging are valuations,” said Mike Gitlin, who helps oversee about 3 trillion dollars as president and chief executive officer of investment manager Capital Group, during a financial summit organized by the Hong Kong Monetary Authority today. On the commodity front, copper prices have continued their decline, reaching their lowest level in nearly two weeks amidst a strengthening dollar and waning demand. Benchmark three-month copper on the London Metal Exchange fell by 2.4%, underscoring the pressure on prices due to fundamental market conditions. In developments concerning artificial intelligence, a selloff in tech stocks was provoked by disappointing results from Palantir Technologies, along with warnings from Wall Street executives about rich valuations. The strong rally in tech stocks tied to AI advancements has raised concerns, particularly as inflationary pressures persist. Elsewhere, Nvidia Corporation and Deutsche Telekom AG are collaborating on a significant data center project in Germany to enhance the country’s AI capabilities, signaling a strategic move to strengthen Europe’s position in the global AI landscape. This facility, with a budget of 1 billion euros, aims to increase AI computing power by 50% and is expected to commence operations in early 2026. On the energy front, the Italian industry continues to grapple with high electricity costs, outpacing those of neighboring European countries. Confindustria representatives have called for urgent government action to enhance renewable energy production, highlighting the persistent tension between energy prices and industrial output.