Accor Shares Drop Nearly 4%, Weighed Down by Middle East Tensions
The hotel group's stock is significantly down at mid-session, in a Paris market heavily penalized by the resurgence of tensions in the Middle East. This movement goes against the upward trend observed since spring.
A Significant Drop Breaking the MM20 in a Sharply Declining CAC 40
Accor's stock has fallen 3.88% to €48.00, down from €49.94 the previous day. The decline is part of a CAC 40 that has dropped 2.21% and an SBF 120 down 2.18%, while the VIX has jumped more than 19% to 18.56, signaling a clear increase in American volatility. The stock is among the most significant declines in the CAC 40 but not at the very bottom, alongside stocks like Societe Generale or Saint-Gobain which have fallen further. Today's movement has pushed the price below its 20-day moving average (€49.10), now showing a negative gap of 2.24%.
However, the technical analysis remains nuanced: the price still remains above the MM50 (€46.32) and MM200 (€45.31), with respective margins of 3.63% and 5.94%. The RSI at 60 indicates a configuration that is still relatively bullish despite today's correction. The support identified at €44.87, close to the MM200, frames the lower limit of the decline.
Middle East Tensions and Rising Brent Weigh on the Travel Sector
The session unfolds against a backdrop of new escalation between Washington and Tehran, following American strikes against Iran and an Iranian-claimed retaliation on military installations in Kuwait and Bahrain. Donald Trump, from the NATO summit in Ankara, declared that the ceasefire with Iran was, in his opinion, over. This climate weighs on tourism and travel stocks, particularly exposed both to consumer sentiment and the energy bill. In this context, Brent crude has gained 5.70% in the session to $76.09, an increase in fuel costs that indirectly affects the hotel sector.
This decline comes after a favorable sequence for the stock. The stock reached its absolute record on June 25 before beginning a consolidation, as illustrated by the decline on June 26. Over three months, the performance remains positive at nearly 15%. The MM20 level at €49.10 becomes the first technical zone to reclaim to erase today's decline.
