Hermès among the biggest gainers in the CAC 40, +7.5% over one month
The Parisian saddler rebounds mid-session, in a well-oriented CAC 40. The stock extends a rebound begun several weeks ago after a sharp quarterly decline that had pushed it away from its moving averages.
A rebound that puts the stock back above its 20-day and 50-day moving averages
Hermès gains 1.99% to €1,380.50 intraday, while the CAC 40 rises 0.79%. It ranks third in the index, behind Saint-Gobain and LVMH, which gains 2.07%.
The stock has recovered 7.6% over one month, bringing it back above its 20-day moving average (MA20) of €1,322.60 (a gap of 4.38%) and its 50-day moving average (MA50) of €1,339.33. However, it remains well below its 200-day moving average (MA200) of €1,618.27 and is still down 16% over three months.
The resistance at €1,387, less than 1% above the current price, is now within reach. The RSI at 58 remains neutral.
Luxury rebounds across the board, led by LVMH, Dior and Kering
The move goes beyond the saddler alone. LVMH rises 2.07%, Christian Dior 2.13% and Kering 1.68%: the big names in luxury are recovering together.
Over one month, Hermès (+7.6%) and LVMH (+7.01%) follow a similar trajectory, while Kering is still down 9.69%. Over three months, Hermès' decline (-16%) is more pronounced than LVMH's (-11.51%) but smaller than Kering's (-29.44%).
The group had published on October 22 revenue of €12,260 million for nine months, up 6.0% at constant exchange rates. The third quarter, at +4.3%, was slowing compared with the first half.
Hermès had then hit a four-year low, and the stock is now more than 9% above that low point, according to the 7.6% rebound observed over the month.
