Carrefour stock leads the CAC 40, stands firm against geopolitical tensions
In a CAC 40 slightly declining, Carrefour stands out as an exception and takes the lead of the Paris index this Wednesday morning. The retailer is benefiting from a tense geopolitical environment that is driving market allocations towards defensive stocks.
Carrefour at the top of the CAC 40, buoyed by a climate of fearful markets
The stock gains 1.28% to €16.21 during the session, posting as the strongest rise in the CAC 40 while the index falls 0.32%. This resilience occurs in a deteriorated geopolitical climate: on September 2, 2026, Iran launched a military retaliation against several American installations in the Middle East, targeting bases in Jordan, Iraq and Bahrain. Such an escalation typically drives market allocations towards staple consumption stocks, whose business model remains relatively insensitive to direct geopolitical turbulence.
The VIX, a barometer of volatility in American markets, jumps more than 10% during the session, a sign of strengthening risk aversion. Carrefour's performance since the beginning of the year also illustrates solid underlying dynamics: the stock shows a gain of more than 34% over twelve months, a progression that contrasts with the current nervousness in markets. For context, according to the consensus of analysts surveyed, the stock trades at approximately 9.4 times expected earnings for the current fiscal year.
Favourable technical configuration: the stock above its three moving averages
In terms of market levels, Carrefour is trading above its three reference moving averages. The MA20 at €15.80 and the MA50 at €16.08 are both below the current price, with respective gaps of 2.56% and 0.78%. The MA200, at €15.48, is even further away, with a positive gap of 4.68%. This configuration reflects a coherent upward trend across all three time horizons.
The RSI at 53 remains in neutral territory, with no overbought signal despite recent gains. The short-term resistance is located at €16.65, representing approximately 2.8% upside potential from the current price, while the support at €15.60 provides a floor in case of a reversal. The analysts' consensus remains a useful benchmark for assessing the stock's trajectory within its current valuation.
