Kering among the biggest gains in the CAC 40, but down 13.5% over one month
The luxury group that owns Gucci and Saint Laurent is recovering in early afternoon, in a broadly stable Paris market. The rebound remains modest given the ground lost over recent months, and the stock is still trading close to its recent lows.
A 1.37% rebound that leaves the stock far from its moving averages
Kering shares gain 1.37% to €182.12 and rank among the biggest gainers in the CAC 40, which is down 0.06% at the same time. This gain follows a week at +1.43%, but it does not change the picture of a stock that is still down 13.4% over one month.
The price remains below its 20-day moving average (MM20) (a gap of -8.70%) as well as its 200-day moving average (MM200) (a gap of -26.84%).
The RSI at 29 reflects seller exhaustion rather than a reversal: the stock is trading near its support at €176.28, a level that the low of 250 sessions at €178.12, broken at the end of October, had already shattered.
Stable Q3 revenue at €3,345M and the launch of a Water Resilience Lab in Tuscany
On the reporting side, Kering posted quarterly revenue of €3,345M on October 22, flat on a reported basis and down 1% on a like-for-like basis (comparable scope and exchange rates). Gucci's decline, to €1,291M for the quarter, was offset by growth in jewelry, eyewear and several leather goods houses.
On November 2, the group also announced its first Water Resilience Lab in the Arno basin, in Tuscany, an initiative dedicated to water management. The stock is down 40.4% over one year and 35.9% over three months, a decline that far exceeds the day's rebound.
