Rexel share falls back below its moving averages and loses 2.5%

Rexel at the bottom of the SBF 120, trapped between its MM20 and its support at 34.93 €

The Rexel share loses 2.27% to 36.21 € during the session, ranking among the strongest declines on the SBF 120 while the Paris index falls 0.28%. This decline brings the stock below its MM20 (36.41 €, -0.55% gap) and below its MM50 (37.10 €, -2.40% gap), two thresholds that the security had barely tested during its failed attempt at 38.25 € on Wednesday. The only support line still holding is the MM200 at 35.77 €, which the price exceeds by 1.23%, with technical support identified at 34.93 €.

The RSI at 53, slightly oriented towards neutrality, does not signal selling excess: today's dynamics resemble more of a pullback after the failure on the 37.95 € resistance than an autonomous bearish acceleration. Over the week, the stock still maintains a gain of 2.2%, which tempers the monthly decline of 3.47%.

An unfavorable macroeconomic context weighs on demand for electrical equipment

The session takes place in a particularly laden market environment this Thursday: the ECB is holding its monetary policy meeting, and markets are almost entirely factoring in a rate increase of 25 basis points, which would bring the deposit rate to 2.50%. For a group like Rexel, exposed to the construction and renovation cycle, more expensive real estate credit mechanically dampens demand for electrical installations. The building situation in France reinforces this picture: the climate in construction stands at -18.2 in August 2026, production declines 4.8% year-over-year, and housing permits show a decline of 8% over twelve months.

These figures remind us of the risks identified when Q1 2026 results were published (April 20), when the group highlighted the impact of rising energy costs on demand. Conversely, the energy transition momentum, cited as a growth driver, continues to support order books in the industrial segment. The MM200 at 35.77 € represents the next benchmark to watch if the decline were to continue.