CAC 40 Laggard, Société Générale Stock Falls Nearly 3%, Support Level in Focus

The Stock Loses 3% and Relies on Its Support at 65.04 €

The Société Générale share falls 2.99% to 65.30 €, while the CAC 40 declines 0.37%. It occupies the last place in the index, ahead of STMicroelectronics (-2.21%) and BNP Paribas (-1.88%). The price now stands less than 0.5% away from its support level at 65.04 €, which has acted as a floor for several sessions. The stock is also below its three moving averages: the gap is 7.40% with the MA20 and 8.41% with the MA200.

Over one month, the loss reaches 10.93% when accounting for the coupon paid, and the RSI at 38 remains outside the oversold zone. The stock has been trading ex-dividend since October 5, following the detachment of an interim dividend of 0.75 €, which in no way explains today's session. The interim dividend is paid today.

Tense French Bond Market and Divided Analyst Opinion

The session unfolds against a backdrop of tension in French government debt: the ten-year OAT was at 4.72% on October 6, at 1.27 percentage points from the Bund, a spread close to its highs since 2011. This context applies to the Paris market as a whole, and cannot be attributed solely to Société Générale. Analysts' views remain divided: Alphavalue raised its rating to "accumulate" on October 5, while reducing its price target from 77.80 € to 76.30 €, approximately 17% above the current price. On results, the group had published a record first-half net profit of 3.5 billion euros in the first half and raised its 2026 profitability target (ROTE) to approximately 11%.

A share buyback program of 1.5 billion euros, announced in August, is being executed at approximately 91%. The level of 65.04 € remains the benchmark to watch in the coming sessions.