Eutelsat stock, leading the SBF 120, surges 19% during trading session
The satellite operator reverses the previous day's trend and dominates its index. Information about restrictions affecting certain SpaceX military services in Ukraine reignites interest in European alternatives to Starlink. The stock remains highly volatile following two sessions of opposing movements.
SpaceX restrictions in Ukraine revive the question of satellite sovereignty
Eutelsat stock gains 19.16% to €1.80 during the session and takes the lead of the SBF 120, which advances 0.3%. The stock is benefiting from renewed interest in European satellite operators, fueled by reports of restrictions on certain SpaceX military services in Ukraine. According to Reuters, the decision to restrict Starshield services comes from the White House, which strengthens the argument for European autonomy in satellite communications.
Owner of the OneWeb constellation, Eutelsat appears as one of the players likely to benefit from this search for alternatives to Starlink. However, this interpretation remains speculative: no contract directly linked to the Ukrainian situation has been announced. Eutelsat's chief executive officer, Jean-François Fallacher, indicated in March that the group had sold all its capacity in Ukraine, which underscores the limits of its immediate expansion possibilities in this market.
A highly volatile asset, between a 23% gain on Wednesday and a decline of nearly 11% on Thursday
Today's rebound follows a session of decline of nearly 11% on Thursday, after a gain of more than 23% on Wednesday. Over the week, the stock now gains nearly 28%, while remaining 42% below its level a year ago. The price is in contact with its 50-day moving average (€1.79), a 0.4% gap, and remains 21.5% below its 200-day moving average (€2.29).
The resistance level is set at €1.95, the support at €1.37. The movement comes after the announcement on October 14 of OneWeb's hope to obtain the final approvals in India before Starlink, according to Sunil Bharti Mittal, one of the group's main shareholders. The €1.95 level is the one the stock is now approaching.
