Hermès shares among the biggest decliners in the CAC 40, down 12.5% over the quarter
The Parisian saddle maker is losing ground mid-session in a European market clearly tilted to the downside. The stock is falling alongside other major luxury names, as markets digest a sharp correction from Wall Street.
The stock joins the bottom of the CAC 40 alongside its luxury peers
Hermès fell 2.52% to €1,352 and ranks among the largest decliners in the CAC 40, while the index fell 1.43%. LVMH lost 2.96%, Christian Dior 2.57% and Kering 3.11%: the three comparable stocks are also down, but the difference in trajectory is clear.
Hermès gained nearly 7% over one week, while LVMH rose only 5.4% over one month and Kering fell 13.5% over the same period.
Amid high market tension, with the VIX at 26.38 versus 16.61 the previous day, the saddler therefore maintains a positive weekly momentum despite today's session. This rebound nonetheless remains insufficient to erase the 12.55% decline over three months.
The stock tests its 50-day moving average at €1,353, below a 200-day moving average 17% away
The stock is testing its 50-day moving average, at €1,353.33, after regaining its 20-day moving average at €1,311.85 this week. However, the price remains well below the 200-day moving average, at €1,631.78, a gap of 17% that reflects the extent of the decline accumulated since the summer.
The RSI at 53 is neutral: it signals neither overbought nor oversold conditions. Above, resistance at €1,387 corresponds to the previous day's close.
Over the longer term, Hermès had published on October 22 its revenue for the first nine months, at €12,260 million, up 6.0% at constant exchange rates, with growth slowing to 4.3% in the third quarter.
