Bouygues Shares Fall Nearly 2.5%, Bottom of the CAC 40
Bouygues stock experiences the sharpest decline in the CAC 40 mid-morning. The movement is part of an unfavorable session for the construction sector, where several stocks are falling together. Crossing below several technical benchmarks increases selling pressure on the stock.
Bouygues at the Bottom of the CAC 40 with Vinci and Eiffage in the Red
Bouygues shares fall by 2.21% to €48.65 during the session, after closing at €49.75 last. The stock is the worst performer in the CAC 40, ahead of Vinci (-2.11%) and Eiffage (-1.80%), two other construction sector players also under pressure. The Paris index is down 0.34% and the SBF 120 loses 0.28%, in a market climate oriented downwards.
The session contrasts with the stock's dynamics over the year, still up nearly 27%. However, over three months, the performance has eroded to -0.55%, and the decline reaches nearly 3% over one month. Today's movement dampens part of the rebound recorded on June 12, when the stock had risen by 1.79% to €50.16, following the ECB's decision.
Price Breaks Its Short Moving Averages and Slides Towards Its Support at €48.54
The price has fallen below the MM20 at €49.85 (a gap of -2.41%) and the MM50 at €50.42 (a gap of -3.51%), confirming the loss of short-term benchmarks. The stock still maintains a more comfortable cushion against the MM200 at €46.11, which is 5.51% below the current price, reflecting the still bullish long-term trend over a year. The RSI at 46 remains neutral, with no signs of exhaustion, while the stock approaches its support at €48.54, whose break could open the door to testing lower levels.
However, the flow of operational news remains rich in recent weeks, with a €104 million contract for Colas Rail on line 9 of the Santiago metro announced on June 25, and the construction of the new university hospital in Montenegro won on June 17. Despite this, the stock continues its consolidation around €50, with no notable reaction to this flow of international contracts.
