Orange Stock Defends Its Support at €16.87 After €356M Hybrid Buyback
The telecom operator ends the session nearly stable, after testing a closely watched technical threshold during the day. The stock remains under pressure since reaching a multi-year high in mid-May, while the CAC 40 finishes higher.
The Stock Briefly Breaks Its Support at €16.87 Before Recovering
Orange's stock fell 0.09% to €16.89 at close, while the CAC 40 ended up 0.54% at 8,385.49 points. During the session, the price dropped to €16.84, briefly breaking the support at €16.87 before climbing back above it by the end of the day. The decline reached 3.51% over the week and 7.22% over a month, after a multi-year peak recorded in mid-May. The stock is trading below its short-term moving averages, with a gap of 3.87% below the MM20 (€17.57) and 5.11% below the MM50 (€17.80). However, the MM200 at €15.79 remains well below the current price, providing a comfortable margin with the underlying trend. The RSI at 36 indicates the exhaustion of selling pressure in recent sessions, without yet tipping into oversold territory.
Restructuring of the Hybrid Portfolio and Still Strong Annual Performance
On Tuesday, Orange announced the completion of its hybrid bond buyback offer launched on June 15. The operator repurchased €254.041 million on the first tranche and €102.6 million on the second, totaling €356.6 million, thereby reducing its hybrid debt accordingly. This operation is part of the active restructuring of the hybrid portfolio initiated in mid-June with the launch of a new super-subordinated tranche. Despite recent consolidation, the stock maintains a gain of 32.63% over the year, ranking it among the most successful values of the index during this period. The quarterly decline remains very limited (-0.41%), indicating that the current movement is more a technical digestion of the rally rather than a trend break. The support at €16.87, tested then defended during the session, becomes the short-term reference level.
