BNP Paribas stock among the sharpest declines in the CAC 40, approaches its 200-day moving average
BNP Paribas intensifies its decline this Thursday, in a CAC 40 itself oriented downward, as the Parisian banking sector faces widespread pressure. The stock loses ground for the second consecutive session, breaking through a significant technical floor after having already breached its 95 € support the previous day.
BNP Paribas in the red, driven by a banking sector under strong pressure
The BNP Paribas stock loses 3.05% in trading at 92.10 €, ranking among the sharpest declines in the CAC 40, in a Paris index declining 1.19%. The movement reflects marked sector pullback: Société Générale yields 3.57% and Crédit Agricole 3.22%, a sign that all listed French banks are facing simultaneous pressure. Over one week, the decline reaches 5.08%, dividend reinvested, and 7.47% over one month.
This context is accompanied by a rise in inflation in the eurozone: September national data shows a marked acceleration in several eurozone economies, driven by soaring energy prices. Money markets now price in up to four additional rate hikes over one year from the ECB, a context of monetary uncertainty that the bank historically monitors closely. The VIX advances 3.12% in trading to 16.54, reflecting a moderate increase in risk aversion in markets.
The stock touching the 200-day moving average after losing its first two moving averages
Technically, the situation of BNP Paribas has gradually deteriorated over recent weeks. The price is now 6.84% below the 20-day moving average at 98.86 € and more than 10% below the 50-day moving average at 102.37 €, two averages calculated excluding the dividend of 3.23 € detached on September 24. The only remaining support point in the current configuration is the 200-day moving average at 91.65 €, which the stock approaches at less than one euro below the current price of 92.10 €.
In the presence of a recent dividend detachment of 3.23 €, technical indicators calculated on raw historical data cannot be interpreted as autonomous signals. On valuation, the consensus of surveyed analysts is based on a P/E of 8.0 times earnings for the current fiscal year and 7.0 times for the following fiscal year, with expected EPS growth of 14.4% from one fiscal year to another. The 200-day moving average, the last benchmark available in the current configuration, remains the level to monitor to assess the stock's performance in the short term.
