ADP Stock Falls Nearly 2% During Session

Drop in Stock Following a CAC 40 Weighed Down by PMI Indicators

Aéroports de Paris loses 1.95% at €110.90, while the CAC 40 is down 1.03% and the SBF 120 by 1.01%. The decline erases part of the recent rebound, but the stock still maintains a gain of 6.33% over the week. Over three months, the performance remains negative at -6.49%.

The French S&P Global Flash Composite PMI index fell to 43.5 in May, its lowest level since November 2020, from 47.6 in April. The volume of new business has seen its sharpest contraction since November 2020, while external demand records its strongest decline in eighteen months. Inflationary pressures are re-emerging concurrently, with cost inflation reaching its highest since March 2023, driven by rising oil and energy prices.

For the airport group, this context prolongs an already complicated environment due to the conflict in the Middle East, which had impacted April's traffic (-4.9% for the group, -1.3% for Paris Airport), as detailed in the traffic report published on May 19.

The Stock Clings to Its Short-Term Averages but Still Struggles Below the MM200

Despite today's decline, ADP maintains a position above its MM20 (€106.48, a gap of +4.15%) and MM50 (€107.57, a gap of +3.10%). However, the MM200 at €114.13 remains above the current price (a gap of -2.83%), confirming the medium-term break initiated at the end of April after the post-quarterly drop. The RSI at 61 indicates a still decent momentum after the weekly rebound, without excess. The resistance at €114.50 coincides with the 200-day average and represents the next technical hurdle in case of continued recovery, while the support at €100.80 limits the downside risk.

On the fundamentals side, the first quarter revenue published on April 29 showed a decline of 0.9% to €1,472 million, despite a 2.3% increase in traffic. At the annual results announcement for 2025 (on March 13, 2026), the group aimed for a current EBITDA of more than €2,350 million in 2026, with traffic growth between 1.5% and 2.5%. Crossing the MM200 remains the next technical step to observe to confirm a lasting exit from the consolidation phase.