BNP Paribas Shares Hit Record High, Eyeing the 100 € Mark
France's leading bank makes a strong move in the mid-afternoon, as the CAC 40 index shows a significant upward trend. The stock reaches a new all-time high during the session, continuing a rally fueled by geopolitical easing in the Middle East and the gradual resumption of oil flows through the Strait of Hormuz. French banking stocks are leading the charge in Paris.
A New All-Time High at 99.45 € Pushes the Stock Towards the Psychological Threshold of 100 €
BNP Paribas stock climbs 2.77% to 99.37 € during the session, after hitting a historic high of 99.45 €, surpassing the previous record of 99.44 €. The stock is among the top gainers in the CAC 40, in an index buoyed by cyclical and banking stocks, while Société Générale gains 4.71% and Crédit Agricole 1.79%. The movement is part of a strong stock market dynamic, with an increase of more than 6% over a week and 32% over a year.
The rally is supported by the framework agreement announced between Washington and Tehran, which includes the gradual reopening of the Strait of Hormuz and the extension of the ceasefire, causing Brent to fall by about 4% and fueling a marked appetite for risk on European markets. The next round level is at 100 €, a psychological threshold above the current price, with the stock trading in a zone of new highs without previous technical resistance.
A Tense Technical Setup Confirmed by the Breakthrough of the 96.69 € Threshold
The clear crossing of the former resistance at 96.69 €, now immediate support, extends the bullish sequence that began in early June and was already documented during the nearly 5% jump on June 12th. The price is trading well above its three moving averages, with a gap of nearly 8% over the MM20 (92.03 €) and nearly 20% over the MM200 (82.93 €), reflecting the magnitude of the medium-term movement. The RSI at 65 remains below the overbought zone while confirming buying pressure, and the MACD remains positive above its signal line.
According to the consensus of analysts surveyed, the stock is trading at about 8.6 times the earnings expected for the current fiscal year and 7.7 times those of the following year, with an expected EPS growth of 11.7%. The round threshold of 100 € will be the prospective marker for the coming sessions.
