Accor Climbs 2.64% to Lead CAC 40, Boosted by Brent Oil Easing
The hotel group leads the CAC 40 at mid-session, benefiting from a significant drop in Brent crude prices. The stock confirms a technical breakout that began earlier in the week and moves clearly away from its moving averages. With the dividend detachment approaching in a few days, the value of the hotel group marks another aggressive trading session.
Accor Leads CAC 40 Amid Brent Crude Relaxation to $91.84 per Barrel
Accor's stock rises 2.64% to €47.90, leading the CAC 40 at mid-session, while the Paris index gains 1.02%. The movement comes amid a clear relaxation in oil markets, with Brent falling to $91.84 per barrel, down 17.5% since May 19, amid prospects of an extended ceasefire between the US/Israel and Iran. This decrease in fuel costs mechanically reduces the expenses for airlines and supports travel and hospitality stocks, sectors to which Accor is indirectly sensitive through tourist flows. The day's advance brings the weekly gain to 8.79%, extending the break of the €46.43 resistance level earlier this week. The same momentum drives Airbus (+2.63%), Kering (+2.43%), Saint-Gobain (+2.19%), and Safran (+2.18%), in a session favorable to cyclical stocks on the Paris market.
Technical Breakout Confirmed and Dividend Detachment Next Monday
The stock now stands well above its three moving averages, with a gap of 8.37% from the MM20 (€44.20) and 10.62% from the MM50 (€43.30). The RSI at 62 indicates this acceleration without yet signaling overheating, keeping the stock in a configuration consistent with the recent crossing of the €46.70 threshold. The rebound partially mitigates the 2.76% decline accumulated over three months, with the price reaching a level not seen since spring. In the short term, the financial calendar highlights the dividend detachment on Monday, June 1, followed by the payment on Wednesday, June 3.
