Kering shares fall further, down 14.5% over one month

A decline that extends the monthly slide below moving averages

Kering is down 1.82% to €242.70 during trading, ranking among the strongest declines in the CAC 40, which itself is losing 0.41% in early afternoon. This movement is part of a much more degraded monthly trend: the stock is down 14.6% over one month, one of the most significant corrections in the index over the period. The price is thus 8.05% below the 20-day moving average (€263.95) and 9.16% below the 200-day moving average (€267.17), two gaps that illustrate the progressive compression of the stock below its medium and long-term averages over several weeks. The RSI at 40 remains in the lower neutral zone, without a clear selling exhaustion signal for now, while the next identified support level stands at €238.80, approximately 1.6% below the current price.

Fundamentals under pressure and a geopolitical context weighing on trading

The group had published its first-half 2026 results on July 29. The interim accounts had revealed a net profit attributable to the group down 60% to €189 million, with Gucci's revenue down 5% on a comparable basis. Management had then indicated its intention to return to growth and improve profitability for the rest of the fiscal year, without specifying precise targets. Based on expected earnings per share, the stock is currently trading at 38 times the earnings of the current fiscal year, according to analyst consensus.

This valuation level leaves little room in the face of jewelry sector sales in China declining 10.1% year-on-year in July 2026, a key market for the house. Furthermore, the military escalation between Iran and the United States, which involved several Gulf countries this Wednesday, sent the VIX soaring 10.66% during the session, weighing on all risky assets in Paris and Europe. In this context, the €238.80 support level constitutes the next level to watch to assess the solidity of the stock's technical floor.