ArcelorMittal stock among the strongest declines in the CAC 40, -12% over one month
The steelmaker is settling in the lower part of the CAC 40 at midday, in a declining Paris market. The stock is extending a difficult month and is trading below its short-term moving averages while remaining above its 200-day MA.
A decline of 12% over one month that moves the stock away from its short-term averages
The ArcelorMittal stock is down 1.63% to €55.60 during the session, compared to €56.52 the previous day, while the CAC 40 is down 0.65%. The stock is among the strongest declines in the index. It has lost 11.91% over one month, but remains up 69.41% over one year, which puts this decline into perspective within a year of strong growth. The price is now 4.73% below its 20-day MA and 9.97% below its 50-day MA, while it remains 1.61% above its 200-day MA, at €54.72.
This latter average and the support level at €54.22 form the closest zone in case of further decline. The RSI at 38.74 indicates no oversold condition. Recent sessions were already oriented downward, while the stock had rebounded in early October. In this context, Brent at $111.66 per barrel, up 1.93% during the session, represents a cost for an energy-intensive industry.
Share buyback executed and objectives confirmed following H1 2026 results
When publishing H1 2026 results, on July 30, management displayed positive prospects for the short, medium and long term, with shareholder returns it deemed solid. The €614 million share buyback program, announced on May 19, was then executed at approximately 100% as of June 30, for €985 million in total shares repurchased. Over twelve months, these buybacks represent 2.3% of market capitalization.
The health of the steelmaker also depends on Chinese industrial demand. The latest official indicators show a manufacturing PMI at 50.3 in April, in expansion territory, while the OECD leading indicator remains below its trend, at 97.41 in September. The resistance at €66.88 constitutes the upper level of the range being monitored by the market.
