Euronext among the biggest decliners in the CAC 40, down 6.9% over the week
The European stock exchange operator is among the biggest decliners in the CAC 40, bucking a slightly positive Parisian index. The drop comes four days after the release of quarterly results that beat expectations.
A stock trading below its 20-day moving average and now testing support at its 50-day moving average
Euronext shares fell 2.76% to €165.30, while the CAC 40 gained 0.36% during the session. The stock is among the index's biggest decliners, ahead of only LVMH.
The stock has lost nearly 7% over the week, but it remains 11.28% above its 200-day moving average, which limits the extent of the decline within a medium-term trend that is still upward.
The price is now below its 20-day moving average (€171.97) and close to its 50-day moving average, at €164.94, a level near support at €158.90.
The RSI at 43 remains neutral: the decline is a correction, not an oversold condition. This move follows the all-time high of €178.20 on October 23, a resistance level that has remained intact since.
A third quarter above expectations and a €350 million share buyback
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On November 5, Euronext reported third-quarter revenue of €547.4 million, up 24.9% year on year and above the €524 million expected by analysts. On a like-for-like basis and at constant exchange rates, growth came to 17.6%.
The group also raised its 2026 target for underlying operating expenses excluding depreciation and amortization to €760 million, from €770 million initially. It announced a new €350 million share buyback programme, following €289 million repurchased over the past twelve months, or 1.7% of market capitalization.
The next leadership change is already known: David Knibbe, current CEO of NN Group, is due to be proposed at the general meeting on May 20, 2027 to succeed Stéphane Boujnah.
SectorServices financiers et marchés›Services financiers
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Context
Period
Period: T3 2026
Key reported figures
Revenue: 547,4 millions d'euros
Quarterly revenue: 547,4 millions d'euros
Revenue growth: 24,9 %
EBITDA: 355,8 millions d'euros
EBITDA margin: 65 %
Net income: 194,9 millions d'euros
Guidance from the release
« Thanks to rigorous cost discipline on recurring expenses, Euronext upgraded its guidance for underlying operating expenses excluding D&A in 2026 to €760 million (from €770 million initially). »
Market volatility dependency affecting volume-related revenues which showed lower proportion (55% vs 60% prior year) despite absolute growth
Regulatory and operational challenges in expanding power markets across multiple European jurisdictions with different local frameworks
Opportunities identified
Successful launch of Euronext Securities' new European CSD model on 21 September 2026, enabling consolidation across multiple markets within a single framework
Expansion of the power franchise across Europe with Nord Pool entering 17th European market (Slovenia) and continued growth in Intraday power trading
Consolidation of Euronext Athens acquisition delivering tangible results with third shipping company listing and reclassification of Greece to developed market status
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.