Amundi shares climb nearly 2% and stand out in a declining SBF 120
In a slightly negative SBF 120, Amundi stands out as an exception this Thursday. The asset manager is posting a marked gain during the session, driven by price momentum that has built over the past three months. The market environment remains tense, between a rise in bond yields and renewed geopolitical tensions in the Gulf.
A gain of 1.85% that is part of a three-month rally of over 14%
Amundi shares are trading at €96.25 during the session, up 1.85% compared to the previous close at €94.50. Over three months, the increase reaches 14.24%, placing the stock in a context of sustained rebound since the summer. Among the SBF 120, the stock is among the strongest gainers in the index, which itself is down 0.25% over the same period.
This contrast with a declining index illustrates the relative resilience of the stock against a market penalized by rising sovereign yields: the 10-year US Treasury is approaching 4.8% and the British gilt has nearly reached a peak since 2008, in a context of an energy shock linked to tensions between Iran and the United States, with Brent crude above $95 per barrel. This environment of higher rates weighs on equity valuations in general, but asset managers can theoretically benefit from increased inflows into bonds and money market products when yields rise. The VIX, at 15.3 during the session, is down from its 16.34 from the previous day, a signal of a partial easing of implied volatility.
The stock holds above its three moving averages, with a resistance level at €97.10 in sight
Amundi shares are trading above their three moving averages, which reflects a bullish configuration over short, medium and long-term horizons. The price exceeds the 20-day MA at €95.05 by 1.26% and the 50-day MA at €91.22 by more than 5.5%, while the 200-day MA at €80.17 remains very far below, with a gap of over 20%. The RSI at 56 remains in neutral territory, with no overbought signal, leaving technical room before reaching exhaustion levels.
The stock is meanwhile approaching its resistance at €97.10, or less than 1% above the current price: a sustainable breakthrough of this threshold would constitute the next technical stage to observe. In parallel, analyst views on the matter will be worth following in this context, especially as First Eagle Investments' acquisition by Victory Capital, announced in late August, is expected to be positive for Amundi's earnings per share, which holds approximately 27% of Victory Capital. On the fundamental side, during the publication of 2025 annual results (February 3, 2026), the group had set a target of €150 billion in net inflows over the 2025-2028 period, and had highlighted the strategic partnership with ICG in private assets as a growth lever.
