Gecina Shares Bounce Nearly 3%, Boosted by Credit Rating Confirmation
Gecina shares are climbing in mid-session this Friday, July 10, following the confirmation of its credit ratings by S&P and Moody's. The Paris-based real estate company is among the leaders in the SBF 120, after several weeks of chart pressure related to the interest rate environment.
A Rebound Supported by the Confirmation of A- and A3 Ratings
Gecina shares are up 2.72% at €71.65, compared to €69.75 the previous day. The stock is among the top performers in the SBF 120, while the broader index is nearly stable (+0.06%) and the CAC 40 is up by 0.04%. The movement comes after the confirmation by S&P and Moody's of the A- and A3 ratings, with stable outlooks, for the eighth consecutive year. This reaffirmation occurs in an interest rate environment that remains challenging for listed real estate companies, with a 3-month Euribor at 2.34% in June (+0.32 point year-on-year) and an average effective rate of long-term mortgage loans at 3.97% in July according to the Bank of France. Over the year, the stock is still down by 20.4%, illustrating the pressure experienced by the commercial real estate sector.
The Stock Remains Below Its Three Moving Averages Despite the Recovery
Today's rebound is not enough to push the price above its technical benchmarks. At €71.65, the stock is below the MM20 (€72.75, a gap of -1.51%) and the MM50 (€72.50, a gap of -1.17%). The gap with the MM200 at €76.11 reaches -5.86%, indicating that the medium-term trend is still downward. The RSI at 36 reflects the selling exhaustion of the last few sessions, after the drop below the support at €69.25 observed on July 8. The zone of €72.50-€72.75, which gathers the short averages, will be the first graphical benchmark to follow; above that, the identified resistance is at €74.25.
