Rexel's Stock Rises by 2.09%, Outperforming the CAC 40 This Tuesday
Rexel's stock significantly advanced this Tuesday, March 31, showing a rise of 2.09% to 33.20 euros during the session, after closing at 32.52 euros the previous day. This rebound occurs as the CAC 40 moves up by 0.73% during the session, amidst ongoing geopolitical tensions in the Middle East. The group's general assembly is scheduled for April 22.
Current Trading Conditions
On this Tuesday, Rexel's stock price has reached 33.20 euros, very close to its 20-day moving average of 33.23 euros, suggesting a return to a short-term equilibrium zone. However, the stock remains significantly below its 50-day moving average of 35.11 euros, a gap indicating bearish pressure over recent weeks. Over three months, the performance of the electrical equipment distributor stands at -1.07%, while over a year, the stock has achieved a growth of 29.54%. Regarding the RSI, the indicator is at 41, near the oversold zone but not fully there yet. This level indicates that selling pressure has eased, consistent with the rebound observed this Tuesday. The major support at 31.35 euros, tested in recent weeks, has so far held, helping to stabilize the stock's trajectory.
Market Context of the Session
The session unfolds in a context marked by the surge of Brent crude above 115 dollars a barrel since Monday, a direct consequence of the military escalation in the Middle East and the involvement of the Iran-backed Houthis. This spike in oil prices impacts global energy costs, a factor that can influence the operational expenses of an electrical equipment distributor like Rexel, although no direct link has been established today. The VIX, a volatility index, stood at 31.05 points at the close of Friday, March 27, a level considered extremely stressful, up more than 13% from the previous day. On the Parisian market, the SBF 120 gains 0.77% during the session, while among comparable stocks, Schneider Electric is up by 0.59% and Airbus by 0.85%. Rexel thus outperforms all these references this Tuesday morning. The general assembly scheduled for April 22 is the next significant event on the group's financial calendar, likely to provide new directions to shareholders.
