BNP Paribas Shares Jump Nearly 5% Breaking Resistance at €96.37

The Stock Breaks Its €96.37 Resistance in a Strongly Rising CAC 40

BNP Paribas shares gain 4.83% to €96.38, among the highest rises in the CAC 40. The bank follows the lead of Societe Generale, which tops the index with a 6.1% increase, while Credit Agricole is up 2.95%. The Paris index advances 1.91% to 8,357 points, in a session marked by a significant drop in the VIX (-15%). On the technical front, the price has broken through its resistance zone identified at €96.37, after several unsuccessful attempts in early June (the stock had stalled at €94.43 on June 5). The RSI at 53 remains neutral, allowing room before reaching a technical tension zone. The stock is comfortably above its moving averages: +5.15% relative to the MM20, +6.36% relative to the MM50, and +16.34% relative to the MM200, indicating a bullish momentum established across three horizons.

Momentum Supported by the Rise in European Rates Following the ECB's Decision

The movement comes as the ECB has raised its three key interest rates by 25 basis points, bringing the deposit facility rate to 2.25% as of June 17. This first increase since September 2023, justified by a return of inflation above the target (3.2% in May), mechanically benefits the interest margins of banks in the eurozone. The context of rising sovereign rates supports the entire European banking sector. In terms of valuation, according to the consensus of analysts surveyed, the stock is trading at about 8.4 times the earnings expected in 2026 and 7.5 times those of 2027, with an estimated EPS growth of 11.7% from one year to the next. The stock now shows a gain of 26.45% over one year and 7.76% over three months. As a reminder, BNP Paribas had raised on June 1 its profitability targets for its commercial bank in Belgium, with the RONE before tax set at 22% in 2028 and 25% in 2030. The €96.37 threshold, now crossed, will serve as a technical reference for the coming sessions.