Eutelsat Shares Surge 8.19% Over the Week, Outperforming the Market
The satellite operator's stock closed on Friday, October 10th at 3.7650 euros, marking an 8.19% increase over the week. This performance starkly contrasts with the benchmark indices, as both the SBF 120 and the CAC 40 fell by more than 1.7% during the same period.
Weekly Performance Highlights
The weekly trajectory of the stock was characterized by a significant upward trend, peaking on Thursday, October 9th, when the share price hit 3.93 euros after gaining nearly 8% in a single session. That day, trading volumes reached 3.52 million shares, more than double the average at the beginning of the week. This bullish momentum is part of a broader movement, as the stock has risen 7.11% over three months, even though the annual performance remains slightly negative at -1.75%. The monthly volatility of the stock, measured at 18.63%, highlights the extent of recent fluctuations, while its negative beta of -0.09 confirms its counter-trend movement relative to market indices.
Strategic Announcement Fuels Rally
The weekly rebound coincided with the announcement on October 1st of a multi-year strategic agreement with Tusass, the public telecommunications operator of Greenland. This partnership focuses on deploying low-orbit connectivity services through Eutelsat's OneWeb constellation, aimed at covering the entire Greenlandic territory. On Thursday, October 9th, the stock stood out as the highest gainer in the SBF 120 session, climbing to 3.93 euros before slightly retracting to 3.765 euros the following day. This movement temporarily allowed the share price to surpass its identified technical resistance threshold at 3.93 euros.
