As of December 2, today’s news sees Prysmian receiving the prestigious Transatlantic Award 2025 for its investment in Encore Wire, along with market fluctuations and geopolitical developments. Prysmian has received the prestigious Transatlantic Award 2025 for its 245 million euros investment aimed at expanding the production capacity of the Encore Wire site in Texas. The award was presented during the Gala Dinner organised by the American Chamber of Commerce in Italy. Turning to market updates, copper prices experienced a decline as the dollar strengthened and risk appetite waned. The three-month copper benchmark on the London Metal Exchange dropped by 0.4% to 11,207 dollars per metric ton following a record high of 11,334 dollars the previous session. Analysts suggest that this downturn comes as investors lock in profits against a backdrop of price worries. In the tech sector, Amazon's cloud computing unit, Amazon Web Services (AWS), announced plans to integrate Nvidia technology into future AI computing chips, emphasizing its commitment to providing advanced solutions to AI customers. This strategy was highlighted during AWS's annual cloud computing conference in Las Vegas, which is expected to draw a large audience this week. Looking at broader macro trends, the Organisation for Economic Cooperation and Development (OECD) has reported that global growth remains more resilient than previously anticipated, largely supported by an AI investment boom. However, risks related to potential trade tensions remain, and the OECD has forecasted a modest slowdown in global growth from 3.2% in 2025 to 2.9% in 2026. From the international front, geopolitical tensions were accentuated as U.S. President Donald Trump's special envoy, Steve Witkoff, and son-in-law Jared Kushner are set to meet Russian President Vladimir Putin to discuss avenues for ending the ongoing war in Ukraine. This meeting follows previous attempts to negotiate peace, which have thus far not yielded results.
