BNP Paribas stock rebounds 2.5%, among the strongest gains on the CAC 40
The bank recovers sharply at closing, in a Paris market oriented upwards. The rebound comes after several weeks of decline and just days before a quarterly appointment.
A 2.5% rebound that leaves the share below all its moving averages
The BNP Paribas share gains 2.43% to €85.55 and ranks among the strongest gains on the CAC 40, which advances 0.83% on the session. This 2.43% gain does little to change the underlying picture: the price remains 4.61% below its 20-day moving average and 10.20% below its 200-day moving average, following a 13.85% decline over one month. The rebound occurs near the €82.57 support level, with an RSI at 33, close to the oversold zone. Société Générale (+2.03%) and Crédit Agricole (+1.17%) also recover, but still lose 15.82% and 16.99% over one month.
Third quarter results expected Wednesday, in a context of elevated French rates
The bank publishes its third quarter results on October 28. The appointment comes as the 10-year OAT stands at 4.93%, 19 basis points below its recent peak of 5.13% on October 22, and the spread with the Bund reaches 1.56 points.
In terms of valuation, the consensus of surveyed analysts projects a P/E of approximately 7.4 for the current fiscal year. The share remains down 19.23% over three months, but maintains a gain of 24.93% over one year.
