ArcelorMittal shares top the CAC 40, testing their MM200 at €55.37
The steelmaker ranks first in the Paris market in mid-morning trading, in an upward-trending market. This rebound follows a month of decline, while the stock trades near long-term benchmarks and its quarterly results are approaching.
A stock testing its MM200 after a month of decline
ArcelorMittal shares gain 2.28% to €54.82 and hold the top spot in the CAC 40, which rises 0.49%. The stock is still 3.38% lower than a month ago, placing this rebound within a broader downward phase.
The price remains below the MM20 (a gap of 1.08%), the MM50 (8.65%) and the MM200, which it is less than 1% away from (a gap of 0.99%). This long-term moving average, at €55.37, is the closest benchmark, while the RSI at 43 remains neutral. Over one year, the stock still shows a gain of +65.32%.
Third-quarter results expected on November 5
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ArcelorMittal will publish its third-quarter 2026 results on November 5. At the publication of its H1 2026 results on July 30, the group displayed an outlook described as confident, with shareholder returns supported.
As of June 30, €985 million of shares had been bought back, or about 2.3% of market capitalization over twelve months. The Brent crude price, at $108.73 per barrel, falls 4.14% this morning.
« Looking ahead, we remain very positive. » ; « Outlook across the near, medium and long term remains positive »
Risks mentioned
Ukraine operations idled following multiple missile strikes with safety and logistical challenges; future cash spend expected to be limited
Temporary $2.5bn working capital investment during 9M 2026 creating near-term cash drag, though expected to unwind in 4Q
Weather disruption in Liberian mining and lagged benefit of higher steel prices yet to be reflected in Europe segment results
Opportunities identified
Enhanced EU trade measures beginning to rebalance European steel market fundamentals with all European blast furnaces back in operation
Strategic growth projects (3.9Mt EAF capacity by 2029 in Europe, Liberia ramp-up) supporting medium to long-term earnings growth
Group shipments in 2H 2026 expected to exceed 1H 2026; flat shipment growth expected to accelerate in 4Q with double-digit year-on-year increase
Outlook / guidance
Management commentary: The 9M 2026 investment in working capital of $2.5bn is expected to largely unwind in 4Q 2026, supporting a healthy cash generation and continued returns to shareholders and lower net debt.
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.
