Coface Shares Climb 2.96% to €16.34, Breaking Through Technical Resistance
Coface shares are up 2.96% at €16.34 in early afternoon trading, following a previous session close at €15.87. The stock is among the top ten gainers in the SBF 120, even as the index itself is down 0.21% for the session. This movement comes in the wake of the first quarter earnings report released yesterday.
Stock Digests First Quarter Earnings Report
The credit insurer reported a net income of €53.6 million for the first quarter of 2026, down 13.7% year-over-year. A slowdown in client activity in Southern Europe and emerging countries has impacted the primary business, but this was partially offset by a 9.2% growth in information and debt collection services. During this announcement, the company highlighted a customer retention rate of 94.8%, close to its record high, as well as growth in information services and debt collection. However, the effective tax rate has risen to 26%, up from 23% in Q1 2025. The schedule then sets the 2026 general assembly for May 19, followed by the semi-annual results on July 30.
Stock Price Crosses Upper Bollinger Band
From an indicators perspective, the stock price has moved above its identified resistance at €16.30, and is slightly above the upper Bollinger Band set at €16.31. This configuration indicates a potential short-term overbuy. The stock is trading above its three moving averages, with a 6.3% gap from the MM50 and 5.2% from the MM200. The RSI at 53 remains neutral, showing no particular tension. Over a year, the stock is still down by 5.28%, but it has regained 4.41% over the week. The next key event is the general assembly scheduled for May 19, 2026.
