Capgemini shares, CAC 40 laggard, fall nearly 3.5% intraday

A session in the red after a global correction in AI stocks

Capgemini shares lose 3.37% to €126.10 intraday and occupy the last place in the CAC 40, whose average change is -1.41%. Kering, LVMH and Sanofi follow at the bottom of the ranking, well behind the company's decline.

The day before, Wall Street had fallen sharply, with the Nasdaq shedding 5.52% under the effect of the correction in AI and data centre stocks, and the Nikkei lost nearly 6% this morning.

The stock retains a lead over its moving averages: it is 1.84% above its MM20 and 11% above its MM50, after a 16.33% gain over one month. The RSI at 59 remains neutral, which limits the significance of the day's decline.

A tense French debt context and an ongoing share buyback

The Paris market is dealing with an OAT-Bund spread of 1.48 points, while the National Assembly rejected the first part of the 2027 budget on November 4.

The 10-year OAT yield stands at 4.75%, according to the Banque de France data of November 5. On the company side, third-quarter revenue rose 11.7% and the 2026 target was raised on October 30.

The group is also executing a €600 million share buyback programme announced on October 6, about 52% completed as of November 3.

Following this decline, the stock trades at around 9.8 times expected earnings for the current financial year, according to the consensus of the analysts surveyed. The €130.50 resistance level is now above the day's price.