ArcelorMittal among the biggest gainers on the CAC 40, up 4.9% over one week
The steelmaker moved into the upper ranks of the Parisian market at midday, as the CAC 40 traded higher. The move follows the publication of its third-quarter results and the announcement of a change in its executive team.
A rebound that reclaims the MM20 ahead of resistance near €59.82
ArcelorMittal shares gained 2.43% to €58.22, after rising 4.9% over the week, placing the stock among the biggest gainers on the CAC 40, which advanced 1.07%.
The stock is now above its MM20 (€55.21, a gap of 5.45%) and its MM200 (€55.77), but remains below its MM50 at €59.09, 1.47% from the current price.
Resistance at €59.82 lies very close to this average, outlining a ceiling zone still to be broken. The RSI at 57 remains neutral, well away from overbought levels. Over one month, the stock is up 1.64%, but it has still lost 7.56% over three months.
A quarter marked by Ukraine and a departure from management
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ArcelorMittal published a net loss of $391 million for the third quarter on November 5, linked to the shutdown of its Ukrainian site in Kryvyi Rih, while its adjusted net profit rose to $868 million from $474 million a year earlier.
In its report, the group describes itself as “very positive” about the outlook and expects higher shipments in the second half than in the first.
On November 9, the retirement of Brad Davey was announced for January 1, 2027, with his responsibilities shared among three executives. Brent crude fell 2.43% to $90.32 a barrel, in a session where the CAC 40 is rising.
« Looking ahead, we remain very positive. » ; « Outlook across the near, medium and long term remains positive »
Risks mentioned
Ukraine operations idled following multiple missile strikes with safety and logistical challenges; future cash spend expected to be limited
Temporary $2.5bn working capital investment during 9M 2026 creating near-term cash drag, though expected to unwind in 4Q
Weather disruption in Liberian mining and lagged benefit of higher steel prices yet to be reflected in Europe segment results
Opportunities identified
Enhanced EU trade measures beginning to rebalance European steel market fundamentals with all European blast furnaces back in operation
Strategic growth projects (3.9Mt EAF capacity by 2029 in Europe, Liberia ramp-up) supporting medium to long-term earnings growth
Group shipments in 2H 2026 expected to exceed 1H 2026; flat shipment growth expected to accelerate in 4Q with double-digit year-on-year increase
Outlook / guidance
Management commentary: The 9M 2026 investment in working capital of $2.5bn is expected to largely unwind in 4Q 2026, supporting a healthy cash generation and continued returns to shareholders and lower net debt.
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.
