Proximus Shares Jump 4.66% Midday After a Week of Strong Gains
On this Friday, November 28, Belgian telecommunications operator Proximus has seen a significant midday increase of 4.66%, bringing its share price to 7.30 euros from 6.98 euros at the previous day's close. This increase is part of a weekly upward trend of 7.27%, one of the strongest in recent weeks, despite early month difficulties. However, trading volumes remain modest with only 0.14% of the capital exchanged, reflecting moderate investor interest. Meanwhile, the CAC 40 has made a modest gain of 0.11% to 8,108.45 points.
Recovery Following Third Quarter Results
The recovery observed this Friday follows a period of tension marked by the publication of the third quarter 2025 results at the beginning of November. The stock then recorded a decline of more than 5% on November 8, weighed down by difficulties in its international division, Proximus Global, which saw a nearly 20% drop in revenue and a 25% decrease in EBITDA. This negative trend led to a nearly 3% decline over three months, despite an annual performance that remains positive at +15.78%, significantly outperforming the CAC 40 (+13.52%). The recent announcement of a new Wi-Fi 7 box launch at the end of December, aimed at premium fiber optic customers, could help restore confidence. The announced dividend of 0.60 euros per share for 2025, confirmed during the earnings release, continues to support the stock's appeal to yield-focused investors.
Technical Analysis Insights
From a technical analysis standpoint, Proximus shares are now slightly above their 50-day moving average, set at 7.28 euros, indicating a short-term resurgence in strength after recent consolidation. The RSI stands at 55, confirming a neutral but favorably oriented zone, while the MACD histogram shows a positive value of 0.02, suggesting the beginning of a bullish divergence between the MACD Line (-0.13) and the Signal Line (-0.15). These technical signals indicate a cautious resumption of positive momentum after several challenging sessions. The stock also remains above its 200-day moving average, set at 7.23 euros, indicating a still favorable underlying trend. The immediate resistance is at 7.70 euros, while short-term support is around 6.76 euros. With a monthly volatility contained at 6.16% and a beta of 0.18, Proximus shows relative stability against general market movements, reinforcing its defensive profile.
Market Context and Future Outlook
Proximus's recent dynamics occur in a contrasting market context for the operator, balanced between the strength of its domestic activities and the ongoing turbulence in its international division. The Belgian segment recorded a 1.8% increase in EBITDA in the third quarter, driven by strong commercial performances with 45,000 new postpaid mobile cards and 12,000 new internet customers. However, the outlook for 2026 remains cautious, with an expected EBITDA decline for Proximus Global ranging from 100 to 130 million euros. In the longer term, the management aims for a return to growth starting in 2027, particularly relying on the rollout of fiber optics, which now covers nearly 47% of Belgian households. This ambition, coupled with a stable dividend policy, could support the stock, provided that the structural difficulties of the international division do not worsen. For now, the weekly rebound remains promising, but the future will depend on the group's ability to stabilize Proximus Global and capitalize on its domestic strengths.
