Stock Market Week 31/26: RENIXX Enters Earnings Season – Bloom Energy and Canadian Solar Post Double-Digit Gains – Grenergy at Bottom of Index
Münster – The RENIXX World initially extended its downward trend last week, hitting its weekly low on Tuesday. As the week progressed, the index reversed course and gained noticeably. By the end of the week, RENIXX closed just above the previous week's level.
Analyst and Market Drivers in Focus
Following the previous week's escalation, a surprise ceasefire between the United States and Iran from Monday, July 27, 2026, brought significant relief to energy markets. Brent crude fell from near USD 100 to around USD 90 per barrel within a few days (-9 percent), though it remained volatile amid restricted shipping through the Strait of Hormuz. On Wednesday, July 29, 2026, the US Federal Reserve held its benchmark rate at 3.50 to 3.75 percent; the European Central Bank had already left its rates unchanged on July 23 but signaled a possible rate hike in September. While oil prices benefited from the ceasefire, the gas market remained tight: the TTF natural gas price stood at EUR 58.44 per megawatt-hour on July 29, 2026, after reaching a multi-month high of EUR 58.91 (around 5.9 cents/kWh) on July 17. Internationally, China, the world's largest coal consumer, generated less than half of its electricity from the fossil fuel in the six months through June for the first time, according to Reuters. Germany is also positioning itself early in key industrial nuclear fusion technologies, with the Karlsruhe Institute of Technology (KIT) taking on a key role in the fuel cycle.
Company News, Week 31/26
RENIXX's recovery was underpinned by a dense earnings season: Bloom Energy, First Solar, EDP Renováveis, Enphase, Verbund, Nordex, Ballard Power and ERG — eight RENIXX constituents in total — reported quarterly or half-year results during the week.
Bloom Energy benefited from growing AI and data center demand in the second quarter of 2026: revenue rose 165.5 percent to USD 1.065 billion, surpassing the billion-dollar mark for the first time, according to the company. Adjusted EBITDA increased from USD 41.2 million to USD 253.4 million, and the company raised its 2026 revenue guidance to a range of USD 3.9 billion to USD 4.2 billion. Bloom Energy shares closed the week up 11.6 percent at EUR 180.60.
Canadian solar manufacturer Canadian Solar is benefiting from the reshoring trend in the US solar industry, which now largely covers its module needs domestically and is increasingly bringing upstream cell manufacturing back onshore as well, helped by tariffs on Asian imports and the expansion of domestic capacity. US subsidiary CS Power Tech started operations at the first phase of a new solar cell factory in Jeffersonville, Indiana. Canadian Solar shares gained 11.1 percent to EUR 13.02.
First Solar posted higher profit in the second quarter despite a 4 percent decline in net sales to USD 1.06 billion: net income rose from USD 342 million to USD 423 million. The order backlog grew to a record 45.1 GW through 2030, and the company confirmed its 2026 guidance. First Solar shares rose 3.3 percent to EUR 183.40.
Enphase Energy reported second-quarter revenue of USD 291.9 million, down around 20 percent year-on-year, while net income remained nearly stable at USD 36.1 million. The stock gained 1.6 percent to EUR 32.77.
At Verbund, first-half revenue fell 11.0 percent to EUR 3,593.8 million and group net income dropped 35.4 percent to EUR 518.1 million, which the Austrian hydropower company attributed mainly to below-average water levels. The utility slightly lowered its 2026 guidance, though its shares still rose 0.9 percent to EUR 59.45.
Nordex achieved a significant improvement in profitability in the second quarter of 2026, alongside higher order intake and positive free cash flow. Nordex Group revenue rose 16.3 percent to around EUR 2.2 billion, while EBITDA jumped 106.8 percent to EUR 223.8 million, lifting the EBITDA margin to 10.3 percent. The company also secured a billion-euro guarantee facility on improved terms. Nordex shares nonetheless fell 2.5 percent to EUR 38.90.
EDP Renováveis increased adjusted EBITDA by 8 percent to EUR 1,033 million in the first half, driven by capacity expansion in North America, even as power revenues declined slightly. The stock fell 4.9 percent to EUR 13.47.
Technical Picture: 200-Day Line Still Being Tested
After reaching its 52-week high of 1,533.57 points on June 2, 2026, RENIXX corrected sharply, marking a weekly low of 1,198.21 points on Tuesday, July 28, 2026 — a decline of around 21.9 percent from the yearly high. The index fell below its 200-day moving average (currently at 1,264.31 points) in the process, which has since acted as resistance from above.
At the close of the week on Friday, July 31, 2026, the index moved back up toward the 200-day line at 1,248.92 points, without yet reclaiming it on a sustained basis. As long as RENIXX remains below the roughly 1,264-point mark, the short-term recovery attempt remains technically unconfirmed; above that level, the MA20 (1,277 points) and MA50 (1,364 points) form further resistance zones. The RSI(14) reading of 37.5 does not indicate an oversold condition.
RENIXX Slips at Start of New Week
At the start of the new trading week, RENIXX eased slightly in early trading. Grenergy Renovables, Xpeng, Nordex, Vestas and Scatec posted the largest declines, while Xinyi Solar, Goldwind, Daqo New Energy, Jinkosolar and Ballard Power gained.
About the Global RENIXX World Stock Index and the Planned RENIXX ETF
The RENIXX® World (Renewable Energy Industrial Index, ISIN: DE000RENX014) is the world's first stock index for renewable energy and the oldest global stock market barometer for this industrial growth sector. It covers wind energy, solar energy, bioenergy, geoenergy, hydropower, electric mobility, hydrogen and fuel cells. The index comprises 30 international companies with the highest free-float market capitalization and tracks both the performance and the global market development of the renewable energy industry. RENIXX launched on May 1, 2006, with a base value of 1,000 points; a retroactive calculation back to 2002 has also been carried out. The index is available through leading financial media and data providers such as Bloomberg, Reuters, Financial Times, BlackRock (Aladdin) and Wallstreet Online.
To mark its 20th anniversary, IWR plans to launch an exchange-traded fund (ETF) that will make RENIXX transparent, regulated and investable.
Source: IWR Online, 03 Aug 2026