Carrefour Stock Drops Nearly 1.4% at Mid-Session, Weighed Down by Oil Surge
The retailer's stock is in the red at mid-session, bucking its upward trend from the end of last week. The stock is moving away from its short-term moving averages as the entire Parisian market declines, in a market environment burdened by the rising dollar and the surge in oil prices.
Carrefour Declines in a CAC 40 Weighed Down by Geopolitical Context
Carrefour's stock has fallen by 1.38% to €16.08 at midday, while the CAC 40 has dropped 0.66% to 8,164.14 points. The stock ranks 34th in the Parisian index of 40 stocks, far from the leaders led by Orange and TotalEnergies.
The decline comes against a backdrop of renewed geopolitical tensions in the Middle East, which have pushed Brent crude above $95 per barrel (+2%). This energy spike fuels fears of a return of inflation, which could weigh on household purchasing power and thus on the volumes of large retail.
Today's movement contrasts with the nearly 2% gain recorded in the previous session.
The Stock Falls Below its 20 and 50 Day Moving Averages, Down 6% Over a Month
From a technical standpoint, the stock price is now below its MM20 (€16.68, a gap of -3.63%) and its MM50 (€16.53, -2.75%), while it remains comfortably above its MM200 at €14.44 (+11.32%). The RSI at 47 reflects a neutral dynamic, with no marked buying or selling pressure.
The performance has declined by 6.05% over a month but still holds a gain of 24.23% over a year, indicating an underlying bullish trend despite the current consolidation. The support identified at €15.71 remains the next technical zone in case of an extended decline.
According to the consensus of analysts surveyed, the stock is trading at about 9.1 times the expected earnings for the current fiscal year, with an anticipated EPS growth of 6.3% from one year to the next.
