Imerys Stock Slides Nearly 3% Approaching Key Support at €21.24
The French mining group is among the biggest losers in the SBF 120 mid-morning. The decline is part of a sluggish Paris market, bringing the stock close to a closely watched technical threshold.
The Stock Falls Below Its Three Moving Averages and Tests Its Support at €21.24
Imerys stock has fallen by 2.53% to €21.54 during the session, while the CAC 40 is down by 0.85% and the SBF 120 has dropped by 0.82%. The price is now below its three moving averages: the MM20 at €22.14 (a gap of -2.71%), the MM50 at €21.93, and the MM200 at €22.90, which remains the most distant lock with a gap of nearly 6%. The decline brings the stock close to the support at €21.24, just 1.4% below the current price. The RSI at 49 remains neutral, suggesting that today's movement has not yet shifted into an oversold dynamic. The loss amounts to 6.1% for the week and 25.4% for the year.
A Still Deteriorating Construction Sector in Europe, Awaiting the Next Meeting
Imerys remains directly exposed to the construction cycle, with European indicators published in May still trending downwards. The construction climate stands at -17.2 in France and -13.2 in Germany, while the sector's production has declined by 2.8% over the year in France and by 1.4% in the Eurozone. French order books are at -32, and housing permits have decreased by 2% over the past twelve months. This backdrop weighs on the volumes of industrial minerals destined for construction, a historic segment of the group. As a reminder, the stock had returned to its MM200 at €22.87 at the end of May, without managing to break through it. The breaking of the support at €21.24 would constitute the next technical marker to observe.
