Stock Market Week 44/26: RENIXX World Stabilises After Losses – Scatec and Ballard Surge, Enphase Plunges
Münster – The RENIXX World, the international equity index for renewable energies, ended the trading week from October 26 to 30, 2026 with a slight gain. After the sharp losses of the previous week, the index rose 0.3 percent to 1,075.65 points. Scatec and Ballard Power posted particularly strong gains, while Enphase Energy and SolarEdge fell by double-digit percentages.
RENIXX World: Slight Weekly Gain – Scatec Leads, Enphase Under Pressure
After reaching its highest closing level of the week on Wednesday at 1,102.36 points, the index gave back a large part of its intraweek gains. Compared with the previous week’s close of 1,072.58 points, the weekly close of 1,075.65 points represents an increase of 3.07 points, or 0.3 percent. Year to date, the RENIXX has lost 4.8 percent.
The top performers in the RENIXX were Scatec (+10.5 percent), Ballard Power (+7.6 percent), EDP Renováveis (+5.9 percent), Bloom Energy (+5.9 percent) and Daqo New Energy (+5.5 percent). The biggest losers were Enphase Energy (-18.9 percent), SolarEdge (-10.2 percent), Goldwind (-6.0 percent), CATL (-5.3 percent) and BYD (-4.4 percent).
Company News, Week 44/26
Enphase Energy shares fell sharply after the company published quarterly results on October 27. The US solar technology group reported third-quarter revenue of USD 293.3 million. For the fourth quarter, Enphase expects only USD 225 million to USD 255 million. The residential solar business thus remains under pressure. At the same time, the company aims to open up a new market with power electronics for AI data centres. Enphase is already developing corresponding solutions for two international technology groups, with first customer pilot projects planned for 2027. The share price lost 18.9 percent over the week to EUR 22.9.
At Norwegian solar and storage operator Scatec, quarterly results and a new growth strategy were in focus. In the third quarter, the company booked impairments of NOK 1.15 billion (about EUR 111 million) on assets in Ukraine and Pakistan. On October 21, Scatec had already lowered its full-year EBITDA guidance for power generation to NOK 3.3 billion to NOK 3.6 billion. At the same time, Scatec aims to double its average annual equity investments for 2027 to 2030 to NOK 2 billion (about EUR 194 million). The growth is to be financed through operating cash flow and the sale of project stakes, among other sources. After the heavy losses of the previous week, Scatec shares rose 10.5 percent in week 44 to EUR 8.18.
Bloom Energy, by contrast, reported strong growth. The US fuel cell manufacturer increased third-quarter revenue by 138.1 percent to USD 1.24 billion. Operating income reached USD 225.4 million. The company also raised its 2026 revenue guidance to USD 4.4 billion to USD 4.6 billion. Demand for decentralised power supply for data centres and industry is a particular driver. After the previous week’s losses, Bloom shares recovered 5.9 percent in week 44 to EUR 182.20.
Technical Picture: RENIXX Falls Below Support Zone Again
After the closing low on Friday, October 23, 2026 (1,072.58 points), just below the support zone of 1,078 to 1,090 points, the RENIXX recovered to a close of 1,102.36 points on Wednesday, October 28 (+2.8 percent), moving back above the zone. By the end of the week, however, the index was unable to hold above it.
On Friday, October 30, 2026, the index closed at 1,075.65 points, just below the support zone – up 0.3 percent on the previous week’s close (October 23, 2026) and down 2.0 percent on the previous day.
As long as the RENIXX trades below the resistance zone of 1,145 to 1,160 points and below its MA20 (1,131.16 points), MA50 (1,179.64 points) and MA200 (1,275.56 points; based on the October 29, 2026 close), the downtrend since the 52-week high of June 3, 2026 (1,550.58 points) remains intact. The support zone of 1,078 to 1,090 points was breached again at the weekly close. From a chart perspective, the 52-week low of 1,055.19 points from November 21, 2025 thus moves into focus as the next possible support. The 14-day RSI stood at 24.9 on October 29.
Start of Week: RENIXX Gains
The RENIXX World started the new trading week with gains. On Monday morning, the index is trading clearly higher. Among the gainers are Bloom Energy, First Solar and Enphase Energy. Shares of Scatec and Cadeler, on the other hand, are lower.
About the RENIXX World Global Equity Index and the Planned RENIXX ETF
The RENIXX® World (Renewable Energy Industrial Index, ISIN: DE000RENX014) is the world’s first equity index for renewable energies and the oldest global market barometer for this industrial sector of the future. It covers wind energy, solar energy, bioenergy, geoenergy, hydropower, electric mobility, hydrogen and fuel cells. The index comprises the 30 international companies with the highest free-float market capitalisation and reflects both the performance and the global market development of the renewable energy industry. The RENIXX was launched on May 1, 2006 with a base value of 1,000 points; a back-calculation to 2002 has been carried out. The index is available via leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin) or Wallstreet Online. The companies included in the RENIXX currently have a free-float market capitalisation of about EUR 230 billion.
To mark the 20th anniversary, the Internationales Wirtschaftsforum Regenerative Energien (IWR) plans to launch an exchange-traded fund (ETF) that makes the RENIXX transparent, regulated and investable.
Source: IWR Online, Nov 11 2026