CAC 40 lower end: ArcelorMittal share slips by 1.5% near support
The steelmaker is declining mid-morning, in a CAC 40 showing a slight decline. The share remains under pressure after a month of decline, as two brokerage firms published their views on Tuesday.
A decline that brings the share closer to its support at €56.52
The ArcelorMittal share is down 1.55% at €57.34, in the lower part of the CAC 40, where the index is losing 0.35% at the same time. Over one month, the share has lost 14.72%, and the price is now 7.38% below its 20-day moving average as well as 8.59% below its 50-day moving average. Only the 200-day moving average, at €53.94, remains below the price (spread of +6.30%).
The support at €56.52, broken on October 5 and then recovered, is less than 1.5% away from the current price. The RSI at 38 remains neutral, with no oversold signal. Brent is trading at $100.97 per barrel, nearly stable on the session, in a context of partial normalization of Middle Eastern exports.
Kepler Cheuvreux and Goldman Sachs publish opposing views
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Kepler Cheuvreux lowered its price target from €73 to €72 with a buy rating, leaving potential of approximately 25% relative to the current price. Goldman Sachs, for its part, raised its target from €48 to €54, with a neutral view, which is a level nearly 6% below the current price. The gap between the two targets thus exceeds €18.
During the publication of H1 2026 results on July 30, the group expressed a positive outlook for the short, medium and long term, with sustained returns to shareholders. The €614 million share buyback program launched on May 19 resulted in approximately €985 million in repurchases as of June 30. The support at €56.52 remains the level to watch in the near term.
Positive outlook across the near, medium and long term with robust shareholder returns and structurally higher quality earnings
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