Rexel stock retreats following GCG acquisition, among most neglected SBF 120 values
The professional electrical equipment distributor is experiencing marked selling pressure on Monday, ranking among the most neglected values of the SBF 120 in this first trading session of the week. The movement follows the announcement on Friday, September 25, of a major acquisition in the United States that significantly weighs on the group's balance sheet.
A marked decline that pushes the stock back below its three moving averages
Rexel is down 2.07% to €35.56 in trading, after closing at €36.31 on Friday, September 25. The decline pushes the stock below its three reference moving averages: the 20-day MA at €36.35, the 50-day MA at €36.63, and the 200-day MA at €36.00, with respective gaps of -2.17%, -2.92%, and -1.22%. This configuration places the price near the support level at €35.26, while the resistance at €37.95 — a level already tested twice in September without being breached — remains far above.
The RSI at 48 remains neutral, indicating that the selling momentum has not yet exhausted its thrust. Over one week, performance falls to -0.92%, erasing the rebound started in mid-September.
GCG acquisition for $1.4 billion weighs on market sentiment
On Friday, September 25, Rexel announced the acquisition of American company GCG from Audax Private Equity for $1.4 billion, an operation expected to close before the end of 2026. GCG, a specialist in cables and connectivity for critical infrastructure, brings approximately $1.1 billion in additional revenue and targets data center and electrification segments. The operation is part of the Axelerate 2028 strategy and an active acquisition policy already initiated with TC 360, Revere, and DEE.
However, it comes as net debt had already increased by €690 million in the first half of 2026, reaching €3,322 million at end-June, as indicated during the publication of half-year results on July 27, 2026. This heavier balance sheet context, in an environment of rising long-term rates (the 30-year US Treasury trading above 5.5% in session), leads traders to view this acquisition with caution. The next concrete benchmark remains the break or maintenance of the €35.26 support level, a floor already approached in September.
