Carrefour Shares Soar 4.5%, Leading the CAC 40

The Retailer Leads the CAC 40 Following Eurozone Inflation Slowdown

Carrefour gains 4.65% to €16.43 in the session and rises to the top of the CAC 40, which is up by 0.66%. The stock thus erases the 2% decline experienced the previous day, when it was the last in the index. The rebound occurs as Eurostat reports an annual inflation in the Eurozone at 2.8% in June, below the consensus of 3.0%, with a service component slowing from 3.5% to 3.2%. In Sintra, Christine Lagarde considered the risks on inflation and growth 'more broadly balanced' than a few weeks ago, a statement that supports domestic consumption stocks. The retailer outperforms ArcelorMittal (+3.96%), Pernod Ricard (+2.74%), and Danone (+2.16%) in the session.

A Technical Rebound That Brings the Price Above the MM20 at €16.22

The stock moves back above its MM20 at €16.22 (a gain of +1.29%) after testing its support at €15.43 at the start of the week. The MM50 at €16.54 remains just above the current price, marking the next milestone to surpass to continue the movement. Over a longer horizon, the stock is up +34.29% over the year and stands 11.09% above its MM200 at €14.79. The RSI at 40 has just moved out of the lower zone, and the MACD shows a histogram back in positive territory at 0.01. The underlying context remains favorable for the group, which finalized on Tuesday the sale of its activities in Romania to Paval Holding and will pay an exceptional dividend of €150 million. According to the consensus of analysts surveyed, the stock is trading at about 9.4 times the earnings for the current fiscal year. The resistance at €17.28 remains the next threshold to watch.