BNP Paribas share breaks through its 88.94 € support and falls 2.5%
The bank retreats sharply mid-session in a Paris market oriented downward following weekend violence. The security loses a technical threshold monitored for several weeks and extends a decline initiated since the end of summer.
A 88.94 € support broken in a CAC 40 sharply declining
The share of BNP Paribas loses 2.43% to 87.37 € during the session, among the biggest declines of the CAC 40, which retreats by 1.31%. The price falls below its 88.94 € support, while the 200-day moving average, at 92.40 € once the 3.23 € dividend is reintegrated, now stands 5.45% above the security. October sessions had already seen the share break through and then recover a 90.05 € support, which gives additional weight to this new breach.
The RSI at 32 remains close to the oversold zone, following a 10.46% decline over one month excluding dividend detachment. The security has traded ex-dividend since September 24, after the detachment of 3.23 €. Société Générale (-2.59%) and Crédit Agricole (-2.29%) retreat in similar proportions, and their decline over one month exceeds 13%.
French debt and social tensions: a Paris market under pressure
The Paris Stock Exchange opens the week in the red following violence that occurred Saturday in several French cities, as the debate on the 2027 budget continues in the National Assembly. The yield on the 10-year OAT was 4.79% according to the latest Bank of France survey on October 16, or 1.37 points above the German Bund. Over twelve years, the price of BNP Paribas has historically moved in the opposite direction to this yield spread, with the security remaining sensitive to French sovereign debt movements.
Over the coming weeks, the security must contend with a price below its three moving averages (20-day, 50-day, 200-day MA). The next major milestone is set for February 2, 2027, the date of the group's 2030 strategic plan presentation.
