Icade share hits historic low at €15.26, down 15% over one month
Office property company Icade recorded a new absolute low on Thursday, intensifying a decline that has persisted for several months. The movement reflects a heavy Paris trading session, against the backdrop of unprecedented tensions in over a decade on French debt.
Historic low breached as French rates reach their peak since 2008
Icade touched €15.26 during trading on Thursday, erasing the previous absolute floor of €15.30 recorded Tuesday, September 29. The current price at €15.39 reflects a decline of 3.66% compared to the previous day's close at €15.97. Over one month, the share has lost more than 15%.
The macroeconomic context amplifies pressure: The ten-year OAT yield reached 4.75% this morning, continuing its increase from the previous day when it was at 4.81%, and approaching the 2008 peak of 4.87%. meanwhile, the spread with the German Bund is approaching 1.30 points, an unprecedented level since 2012. For a property company like Icade, whose business model relies on the value of real estate assets and financing costs, the rise in sovereign rates constitutes a direct pressure factor on the entire listed sector. The SBF 120 is down 1.3% in trading, in an atmosphere weighed down by uncertainty over the French budget, with the government presenting its 2027 budget proposals on Thursday to the Council of Ministers in a Parliament without a majority.
Fundamentals under pressure and RSI in extreme oversold at 22
The RSI of Icade at 22 signals an extreme oversold configuration, the most pronounced observed in recent months on the share. The price remains well below its three moving averages: the 20-day MA at €16.89, the 50-day MA at €18.17 and the 200-day MA at €19.87, representing respectively 8.9%, 15.3% and 22.6% above the current price. This configuration illustrates the extent of the underlying downward trend.
On the results side, during the publication of H1 2026 results (July 22, 2026), Icade had confirmed its annual guidance with consolidated net cash flow expected between €2.90 and €3.10 per share, despite a decline in asset value of -3.1% on a constant perimeter basis and an average cost of debt increasing, expected to be around 2% at end 2026. Based on expected earnings, according to the analyst consensus surveyed, the share is trading at approximately 5.1 times current fiscal year earnings. The nearest resistance threshold at €18.98 now appears very distant, while the support at €15.97 was breached downward at the opening.
