Amundi's Stock Falls Below €78 Nine Days Before Quarterly Results
Amundi's shares dropped more than 2% this Monday morning, falling below the €78 threshold after having gained 2.5% over the past week. This decline occurs amidst a general weakness in the CAC 40, which is down 1.11% during the session, just nine days before the asset manager's first-quarter results are released.
At €77.40 mid-morning, Amundi has lost 2.09% compared to last Friday's close of €79.05. The stock is now trading in the upper part of its Bollinger Bands, at 83% of the range between the lower bound (€70.08) and the upper bound (€78.87), a zone often associated with potential overbuying. The RSI, a momentum indicator, stands at 63, a still neutral level but indicating that the stock has recently experienced significant appreciation. The 50-day moving average, positioned at €76.13, is the next level to watch if the decline continues. In the longer term, the price remains well above its 200-day moving average (€69.98), reflecting a confirmed underlying bullish trend with an annual performance of nearly 19.5%.
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Amundi's decline is part of a broader downtrend on the Paris stock exchange. The CAC 40 is down 1.11% during the session and the SBF 120 is down 1.06%. Among comparable financial stocks, BNP Paribas has dropped 1.75% and AXA has fallen 1.13%, showing widespread selling pressure in the sector. Outside of Europe, Asian indices ended higher: the Nikkei 225 closed up 0.72% and the Hang Seng increased by 0.83%. The financial calendar for Amundi is an important contextual element for the coming sessions. The asset manager will publish its first-quarter results on April 29, in nine days. The general meeting is scheduled for June 2, followed by the dividend payment on June 11. These upcoming events could lead to position adjustments in the stock in the coming days. Over three months, the stock maintains a gain of 4.1%, while a negative beta of -0.13 indicates a historical decorrelation with major indices.
Au troisième trimestre, Amundi a prolongé les dynamiques positives avec une collecte de +15 Md€, une hausse des revenus de +5% et une progression du résultat avant impôt de +4 %.
Collecte soutenue (9M +67 Md€, T3 +15 Md€), encours record 2 317 Md€, croissance des revenus (+4,9 % 9M ajusté), forte progression d'Amundi Technology (+48% 9M/9M) et bonne dynamique des ETF (+28 Md€ 9M). Résultats ajustés en hausse: résultat avant impôt ajusté 9M 1 340 M€, résultat net ajusté 9M 978 M€.
Risks mentioned
Incertitude sur le renouvellement du contrat de distribution UniCredit à échéance juillet 2027
Risque de change: effet défavorable du dollar US (-12%) et de la roupie indienne (-15%) sur les encours
Risque de réallocation de l'EPFO pouvant entraîner sorties pour SBI FM (30-40 Md€ évoqués)
Volatilité des marchés pouvant impacter les encours et la collecte
Opportunities identified
Croissance en Asie (collecte 9M +29 Md€, forte contribution des JV et distribution directe)
Distribution Tiers et plateformes digitales (collecte 9M +21 Md€, 34% de la collecte via plateformes digitales)
Actifs privés et stratégies Megatendances (levée Mégatendances III 0,3 Md€)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
