EssilorLuxottica Share Hits Lowest Level Since Early 2023
EssilorLuxottica is posting a sharp decline this Thursday, touching an unprecedented level since early 2023 during the session. The share is evolving in a market context under pressure, with geopolitical tensions in the Middle East fueling a resurgence of risk aversion on consumption stocks in Europe.
A Three-Year Low Recorded During the Session, in the Wake of Severe Monthly and Annual Decline
The EssilorLuxottica share is down 2.24% to €155.15 during the session, after reaching €154.65 intraday, its lowest level since early 2023 (the previous floor at €155.60 dates back to that period, in a context of rapid interest rate increases). Today's decline is part of a broader deterioration: -5.43% over one month and -9.32% over three months. Over one year, the decline reaches nearly 40%, an amplitude that illustrates the sustained pressure on the share. The group remains ranked among the biggest decliners of the CAC 40 during the session, alongside other luxury and consumption stocks, in a Paris index that is also down 0.34%.
The macroeconomic context is weighing on the share. The resumption of hostilities between Iran and the United States in the Gulf has pushed Brent above $95 per barrel, reviving inflation and monetary tightening concerns. Sovereign yields are rising simultaneously: the 10-year US Treasury is approaching 4.8% and the British gilt touched 5.268%, a peak since 2008. This configuration of elevated rates increases the cost of capital and weighs on valuations of premium growth stocks like EssilorLuxottica, whose market capitalization remains significant.
Solid Fundamentals in H1 2026 But Moving Averages Far from Current Price
The group had published its first half 2026 results on July 28, showing an adjusted operating profit up 15% at constant exchange rates and free cash flow of 1.07 billion euros, up by 100 million euros. The published operating margin stood at 18.6%, slightly below the 18.9% calculated at constant rates, due to exchange rate fluctuations. These fundamental elements remain solid, but they have not been sufficient to stop the stock market correction that began well before this publication. The technical analysis confirms the fragility of the current configuration.
The price at €155.15 is 5% below the 20-day moving average (€163.32) and 6.66% below the 50-day moving average (€166.22), two averages that now act as dynamic resistance levels. The gap to the 200-day moving average at €211.81 exceeds 26%, which reflects a deeply deteriorated long-term trend. The RSI at 41 remains below the neutral zone without signaling a clear selling exhaustion, which leaves the downward dynamic open. The resistance threshold at €172.30 remains very far from the current price.
