Eiffage shares climb back above their 20-day moving average and rebound nearly 5% over the week
The construction and motorway concessions group is recovering in a CAC 40 index that is slightly up. The move comes against a Paris market closely watching tensions over French debt, on the eve of a budget vote at the National Assembly.
A rebound that puts the stock back above its 20-day moving average
Shares of Eiffage are up 1.44% at €102.25 in mid-afternoon, while the CAC 40 gains 0.29%. The stock is thus among the index's biggest gainers, ahead of its peers Bouygues (+0.59%) and Vinci (+0.83%).
The stock is back above its 20-day moving average (MM20), at €99.73 (a gap of 2.5%), after nearly testing its support at €97.42 at the end of October, which limited the decline in the October 29 session. It is up nearly 5% over one week, but remains below its 50-day moving average (MM50) at €104.33 and well below its 200-day moving average (MM200) at €123.63, with a 17% decline over three months.
A backdrop shaped by French debt and the 2027 budget
The session is taking place against a backdrop of tension over French debt: on October 30, Fitch lowered the outlook on France's sovereign rating to “Negative”, and the 10-year OAT yield stands at 4.91%, with a spread of 1.60 points against the Bund.
The National Assembly is due to vote on Tuesday, November 3, on the first part of the 2027 finance bill. On the valuation front, the consensus of the analysts surveyed values the stock at around 9 times expected earnings for the current financial year.
The €107.90 level, which marks the stock's resistance, is the next reference point as it approaches the MM50.
