ArcelorMittal shares among the sharpest declines on the CAC 40, down 3%
The steelmaker is positioning itself at the lower end of the CAC 40 in mid-morning trading, in a declining Paris market. The stock is approaching a closely watched technical level, against the backdrop of an already difficult month and rising crude oil prices.
A decline that brings the stock back to its moving averages
ArcelorMittal shares are down 3.24% at €54.42, while the CAC 40 is down 1.35%. The stock ranks among the index's sharpest declines, ahead of only three other securities, with Hermès leading the decline. The stock is trading below its 20-day moving average (4.93% gap) and its 50-day moving average (11.15% gap), but within less than 1% of its 200-day moving average at €54.94.
The support level at €54.22 is less than 0.4% from the current price, and the RSI at 32 is approaching oversold territory. Over one month, the decline reaches 13.43%, while the stock maintains a 65.71% gain over one year.
Oil at $112 and French equities under rate pressure on the agenda
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Brent is trading at $112.13 per barrel (+3.04% in the session), a context of energy costs to monitor for a steelmaker. On the market side, the 10-year OAT briefly exceeded 5% yesterday, a first since 2002, with the yield spread over the Bund close to 160 basis points. On the fundamentals side, the group indicated when publishing H1 2026 results (July 30, 2026) a positive outlook in the short, medium and long term, with sustained shareholder returns.
It also repurchased €985 million in shares over twelve months, representing 2.3% of its market capitalization. The next technical benchmark is the support level at €54.22.
Positive outlook across the near, medium and long term with robust shareholder returns and structurally higher quality earnings
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