EssilorLuxottica Shares Bounce Back 2.5% and Cross a Key Technical Threshold
The Franco-Italian optical giant continues its recovery at midday, in a significantly bullish CAC 40. The stock extends the recovery momentum that began in late May and reclaims a medium-term technical benchmark. The relaxation of oil prices following the US-Iran agreement supports the broader European market.
The Stock Moves Above its 50-Day Moving Average at €182.95
EssilorLuxottica shares are up 2.57% at €187.40, after closing at €182.70 last session. The stock has moved above its 50-day moving average (€182.95), a threshold it had struggled to surpass in previous attempts. The crossing occurs with a 6.75% gap above the MM20 (€175.22), while the RSI at 59 indicates a bullish momentum without excessive overbuying.
The situation remains fragile in the long term: the MM200 at €246.81 is still more than 24% above the current price, a legacy of the spring's downturn which continues to weigh on the year's performance (-22.71%). Over seven days, the stock has gained 7.47%, erasing more than double its monthly decline, extending the movement that began after the multi-year low in May. The next resistance level is significantly higher, at €320.70.
A Session Driven by the Easing of Oil Prices and the General Improvement of the CAC 40
Today's rebound is part of a decidedly bullish Parisian market, with the CAC 40 up 0.97% at 8,431.92 points and the SBF 120 advancing in similar proportions. The framework agreement announced between the United States and Iran, which includes the gradual reopening of the Strait of Hormuz, has led to a roughly 7% drop in Brent crude, contributing to a relaxation in European consumer-sensitive stocks. The VIX is also down to 16.81, a decrease of nearly 5%. Several cyclical stocks lead the market (Saint-Gobain, Stellantis, Renault, Safran), while EssilorLuxottica ranks in the upper half of the index.
On the operations side, the group announced at the beginning of June the issuance of 957,954 new shares for the 2025 dividend payment in shares, a transaction now recorded by the AMF. As a reminder, Oddo BHF had lowered its price target last Friday while maintaining a positive outlook. The next technical benchmark to watch remains the zone of long averages, still very distant above the current price.
