Euronext stock rises nearly 2% and defies a declining CAC 40
In a CAC 40 down nearly 1%, Euronext stands out as an exception this Monday morning. The pan-European exchange operator is benefiting from a renewed favorable analyst opinion issued today, as markets digest a week packed with major monetary decisions.
CIC Market Solutions confirms its target at €167 with a buy rating on Euronext
CIC Market Solutions renewed its buy rating on Euronext on Monday, maintaining a price target of €167. From the current price of €161.30, this level represents an upside potential of approximately 3.5%. The analysts' consensus supports the momentum of the stock in a trading session that is otherwise unfavorable to the entire Paris exchange.
Since the previous session, the stock has gained 1.96%, reaching €161.30, significantly outperforming a CAC 40 that is down 0.93% during the session. Over three months, the gain exceeds 8.8%, continuing a positive annual performance of more than 16%.
In contact with the 20-day moving average, the stock holds firm in a market pressured by volatility and rates
Euronext is trading near its 20-day moving average, set at €161.59, with a virtually zero difference of -0.18%. This level represents a short-term reference point to monitor: maintaining above it would consolidate the upward trend of recent weeks, while the 50-day MA at €156.21 and the 200-day MA at €139.92 both remain significantly below the price, at -3.3% and -15.3% respectively. The RSI at 48 remains in neutral territory, showing no overbought or oversold signals.
The trading session context is tense: the VIX surges nearly 15% during the session, reflecting increased market nervousness ahead of decisions from the Fed, expected Wednesday, the Bank of England on Thursday, and the Bank of Japan on Friday. The ECB had already raised its key interest rates by 25 basis points on September 10, bringing the deposit facility rate to 2.50%. In this context of elevated volatility, the support level at €157.10 constitutes the first key reference point to monitor if selling pressure intensifies, while the resistance at €165.30 remains the short-term target for bulls.
