Société Générale Shares Drop 1.5% Amid a Rising CAC 40
The French bank takes a breather after several weeks of spectacular gains. The stock declines at close in an otherwise rising CAC 40, as European banking stocks suffer from renewed caution over long-term rates.
A Temporary Setback After a Year-Long Surge of Over 60%
Société Générale's stock ended the session at €76.02, down 1.67% from the previous day. The stock ranks at the lower end of the CAC 40, while the Paris index itself rose by 0.54% to 8,385.49 points. This decline follows a soaring phase: the stock is still up +10.49% over the month, +19.08% over three months, and nearly 62% over the year.
The stock had broken its resistance at €71.90 in mid-June, as documented by a session that saw a nearly 7% rise, before continuing its march towards €76.60 last Monday. The European sector context also weighs in: the ECB raised its rates for the first time since 2023, and financial press strategists believe that the phase of supporting stock markets with accommodative monetary policies is coming to an end.
Moving Averages Remain Well Oriented, with Resistance at €78.92 in Sight
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Despite today's decline, the technical setup remains bullish. The price is above the MM20 at €73.00 (a +4.14% gap), above the MM50 at €70.91 (+7.21%), and above the MM200 at €65.39 (+16.26%). The RSI at 64 remains in a high neutral zone, with no marked signs of exhaustion.
The identified resistance at €78.92 is the next graphical threshold above the current price. According to the consensus of surveyed analysts, the stock is trading at about 9.9 times the expected earnings for the current fiscal year and 8.5 times those for the next fiscal year. The next concrete event for shareholders will be the early repayment of the convertible bond FR001400BDA1, scheduled for July 6.
Résultat net part du Groupe record au S1-26 de 3,5 Md EUR, en hausse de +13,9% vs. S1-25, ROTE de 12,0% au S1-26
Risks mentioned
Revenus de la Banque de Grande Clientèle en baisse de -1,3 % au S1-26 vs. S1-25
Activités Taux, Crédit et Change en retrait de -15,0 % sur le semestre
Coût du risque en hausse de +6,6 % à 745 millions d'euros au S1-26
Opportunities identified
Cible de ROTE 2026 rehaussée à environ 11 % grâce à l'effet de ciseaux positif
Acompte sur dividende en hausse de +23 % et rachat d'actions exceptionnel de 1,5 Md€
Notation relevée par Fitch à « A+ » et perspective S&P passée à « positive »
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.
