Legrand Stock Advances and Returns to Contact with Its Moving Averages

A Rebound of 1.55% That Brings Legrand Back into Contact with Its Two First Moving Averages

Legrand is advancing 1.55% to €137.40 during the session, gaining seven places in the CAC 40 to rank among the strongest gains of the index, which is advancing 0.66%. This return to favor follows a difficult week: the stock is still posting a decline of 2.1% over seven days, a consequence of the 5.5% drop recorded on Monday which had broken all three moving averages at once. Today's gain allows a return to near exact contact with the MA20 (€137.34) and MA50 (€137.31), two thresholds that the price is now brushing within less than 0.1% difference.

The major obstacle remains the MA200, at €139.68, or 1.63% above the current price. The RSI at 46, slightly below the neutral zone, reflects a configuration without excess in either direction, which leaves room for a continuation of the movement without an immediate overbought signal. The support at €132.35 offers a cushion of approximately 4% below current prices.

Solid First-Half Results and Raised Guidance as Fundamental Backdrop

Beyond the session's dynamics, the group has a solid recent fundamental foundation. Upon the publication of H1 2026 results on July 29, Legrand had displayed record sales growth of +17% excluding exchange rate effects, driven notably by strong demand for data center equipment, and had raised its annual targets. However, management had signaled that the geopolitical and economic situation remained "highly evolving" and that exchange rate effects continued to weigh on reported growth.

This context is current: the Fed has just raised its policy rates to 3.75%-4.00% on September 17, the first increase since 2023, which maintains tight financial conditions capable of affecting demand for construction and equipment on international markets. The construction market in France is moreover displaying a negative climate of -18.2 according to Eurostat data for August 2026, with housing permits declining 8% over twelve months, a context that may moderate domestic demand for electrical equipment. Resistance at €146.15 represents the next reference level, at just over 6% above current prices.