Michelin Stock Benefits from Brent Easing and Moves Above Its Averages
The Clermont-based manufacturer is among the well-oriented values of the Parisian stock exchange at midday. The stock benefits from the easing of the barrel and marks a technical rebound as it had been under pressure for three months. The workforce adaptation project announced the day before remains in the background of the session.
The Stock Rebounds by 2% to €31.64 in a Favorably Oriented CAC 40
Michelin's stock gains 2.06% to €31.64 at midday, among the strongest rises in the CAC 40, which is up by 1.01%. The movement follows the easing of Brent, which falls by 2% to $91.84 a barrel after the release of a memorandum of understanding between American and Iranian negotiators. As fuel directly impacts logistics costs and the demand for replacement tires, the tire manufacturer traditionally benefits from a prolonged decline in the barrel. However, the stock remains down by 8.02% over three months and has lost 6.61% over a year, reflecting a turbulent stock market journey since the start of the year. Moreover, the group also confirmed on Thursday a workforce adaptation project in France aiming for up to 1,500 job cuts over three years, based solely on voluntary departures, in response to production costs deemed too high.
The Rebound Places the Stock Above Its Three Key Moving Averages
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At €31.64, the stock moves above its MM20 (€31.35), MM50 (€30.74), and MM200 (€30.28), with respective gaps of 0.93%, 2.93%, and 4.49%. This configuration places the tire manufacturer in a more favorable technical dynamic after several weeks of oscillating around these thresholds. The RSI at 48 remains in a neutral zone, without any excess signal, while the resistance identified at €32.42 (already tested on May 6 at €32.46 before a decline) remains the next upper limit of the chart. The technical support is, for the record, at €30.23, slightly below the MM200. The holding of the €32.42 zone remains the threshold to watch in the coming sessions.
SectorAutomobile et mobilité›Équipementiers automobiles
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 19 175 millions d'euros
Quarterly revenue: 19 175 millions d'euros
Revenue growth: -0,5 %
Guidance from the release
Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
Risks mentioned
Faiblesse persistante de la Première monte, qui fait reculer les volumes pneumatiques du Groupe de 0,8 % à fin septembre, en particulier en Tourisme Camionnette en Europe et en Amérique du Nord (en Chine, les ventes du Groupe progressent sur un marché en recul de 7 %)
Concurrence des pneumatiques importés à bas prix, notamment d'Asie, qui pèse sur les marques Tier 2 en Amérique du Nord, Tier 3 dans les principales régions et sur le Poids lourd en Amérique du Sud
Faiblesse persistante des Convoyeurs, liée à la prudence des clients miniers en matière de dépenses et à la faiblesse du marché du minerai de fer, notamment en Australie
Opportunities identified
Expansion de Polymer Composite Solutions soutenue par les acquisitions de Cooley Group, Flexitallic et TexTech en 2026 (chiffre d'affaires +21,9 % publié, -2,7 % hors effet de périmètre à cause des Convoyeurs)
Activité Mines en croissance, avec des gains de parts de marché, qui compense la pression sur le Hors-la-route (segment Spécialités -0,9 % publié, +0,4 % à périmètre comparable)
Dynamique positive de la marque MICHELIN en Remplacement avec volume de +4% en fin septembre
Outlook / guidance
Management commentary: Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
