Carrefour Stock the Laggard of CAC 40, Down 2% Towards Its Support

The Stock Falls Below Its Short-Term Moving Averages, Losing 2% During the Session

Carrefour's stock drops 2% to €15.92, at the bottom of the CAC 40 while the Paris index only falls by 0.27%. The retailer is the worst performer in the index, trailing behind Schneider Electric and Engie, in a session where cyclical stocks (Renault, Stellantis, Airbus) drive the market. The stock has fallen below its MM20 at €16.23 (a gap of -1.88%) and is moving away from its MM50 at €16.56 (-3.83%), while still maintaining a cushion of nearly 8% over the MM200 at €14.77. The RSI at 49 remains in the neutral zone, not indicating significant selling pressure. The technical support at €15.43 remains the next benchmark downward, about 3% from the current price.

Completion of Romanian Divestiture Fails to Support Stock Despite €150M Special Dividend

The group finalized on Tuesday the divestiture of its activities in Romania to Paval Holding, accompanied by a special dividend of €150M. The transaction, part of the group's strategic refocusing initiated several quarters ago, was largely anticipated by the market following the initial announcement and does not support the stock price this Wednesday. Over a year, the stock still shows a performance of more than 33%, but its trajectory has slowed since the downturn on June 18, when the stock plunged 5.5% following a downgrade by JP Morgan. According to the consensus of analysts surveyed, the stock is trading at about 9.1 times the expected earnings for the current fiscal year, with projected EPS growth of 7.2% year-over-year. Today's decline brings the stock back to its support zone at €15.43, a level to watch for the remainder of the session.