Danone share resumes support at €62.38 and climbs 2.5%
The dairy products, water and infant nutrition group is among the most dynamic values in a hesitant CAC 40. It advances following the publication of its third quarter sales, in a Paris market without clear direction.
A technical breakthrough that places the price above its two short-term moving averages
The Danone share gains 2.53% to €63.18 during trading, while the CAC 40 declines by 0.06%.
The stock has recaptured its 30-day high at €62.38, a threshold that has now become a support level. This movement places it above its 20-day moving average (€60.23, a 4.90% gap), which it has been trying to reclaim for several weeks. However, it remains below its 200-day moving average at €66.71, which is 5.29% above the current price.
Today's rebound is part of a positive week (+3.54%), but the quarter remains negative at -10.71%. The session places Danone in second place on the CAC 40, behind Stellantis.
Sales up 4%, driven by prices more than volumes
Danone published this morning a third quarter revenue up 4.0% on a comparable basis, a pace close to that of the second quarter (+4.2%). The composition of this growth is the key takeaway: the price effect contributed 3.6 percentage points, compared to 0.4 percentage point for volumes and mix.
Over nine months, comparable growth reaches 3.6%, within the annual guidance range of +3% to +5% that the group has confirmed.
The session occurs after a marked stock market decline, with the share having touched a one-year low at the end of September. The next price target remains resistance at €74.40, while the support at €62.38 is the level the share has just reclaimed.
