Eramet Shares Drop by 4.5%, Among the Lowest in the SBF 120
The mining and metallurgical group records one of the worst sessions in the SBF 120 this Thursday, going against a stable Parisian market. The stock partially erases the rebound gained last week and approaches a technical zone that has been under scrutiny for several sessions.
Eramet Falls More Than 4% and Slides Among the Biggest Declines of the SBF 120
Eramet shares lose 4.38% at €51.35 midday, while the SBF 120 remains almost stable (-0.01%) and the CAC 40 slightly gains 0.06%. The stock is among the largest declines of the broader index, following the likes of Sartorius Stedim Biotech and Carrefour. The session erases part of the weekly gain, which still remains positive at +6.3% over seven days. Over a month, the decline reaches 7.8%. The oil context adds an unfavorable backdrop to the non-ferrous metals sector: Brent crude loses 4.27% at $79.62 a barrel and has fallen 16.7% since June 7.
The Stock Falls Below All Its Moving Averages and Heads Towards the Support at €48.30
Today's decline places Eramet below its three moving averages, with a gap of 3.5% below the MA20 (€53.20), 5.9% below the MA50 (€54.54), and nearly 10% below the MA200 (€57.00). The RSI at 51 remains neutral, indicating no signs of exhaustion at this stage. The price approaches the support identified at €48.30, already mentioned in May's technical analyses as a major defense zone. On the corporate front, the group had its capital increase of €500 million approved during its general assembly on May 27, and appointed Simon Henochsberg as the financial director effective May 26.
