ArcelorMittal Shares Bounce Nearly 3%, Leading the CAC 40
The Luxembourg-based steelmaker rebounds mid-session after a lackluster week that brought the stock back to its 20-day moving average. Today's gain is part of a well-oriented CAC 40. The stock is revisiting levels it had dropped from earlier in the week.
ArcelorMittal Stock Up 2.48% at €57.08, Among Top CAC 40 Gainers
ArcelorMittal's stock gains 2.48% to €57.08, marking one of the highest increases in the CAC 40, which is up by 0.81%. This movement brings the stock back to its 20-day moving average (€57.21), which it had dipped below at the start of the week. However, the seven-day outlook remains negative (-6.82%), reflecting the consolidation phase that began after the late May peak. The annual performance still shows significant growth: +114% over the year, with the price remaining about 34% above its 200-day moving average (€42.73), indicating a strong underlying trend despite recent softening.
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An RSI at 49 indicates a stock without significant buying or selling pressure following the spring rally. The MACD remains in positive territory but below its signal line (1.44 versus 1.84), suggesting that the bullish momentum has waned since the May peak. Today's rebound brings the price back to the vicinity of the MM20 without clearly surpassing it: this area around €57.20 will act as the first critical point for the continuation of the movement. Higher up, the technical resistance is identified at €62.14, a level approached during the late May record. Lower down, the first support is at €47.59. The stock is moving in a context of contained volatility (11.6% over a month), consistent with a digestion phase rather than a trend break.
« 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.
