Legrand stock drops 3% and becomes worst performer on CAC 40

A session that places the stock in last position on the Paris index

The Legrand stock is down 2.97% to €127.40, making it the biggest loser on the CAC 40 during the session, while the index drops 0.63%. Schneider Electric and STMicroelectronics, which are also declining, are not linked to the stock's movement based on today's data. The price is now below its support level of €131.30, broken on Monday, and the distance separating it from the 200-day moving average is 9.63%, with the average standing at €140.97.

The decline reaches 8.74% over one week, following an October 15 session already marked by a drop of nearly 4%. The RSI at 39 remains above the oversold zone, leaving room for the movement to continue without signs of seller exhaustion at this stage. Over three months, the stock has lost 5.91%, a decline less pronounced than that of the previous week.

A market context tightened by French debt and construction sector under pressure

The CAC 40 is evolving in a climate of caution, linked to budgetary tensions in France and the rise in the 10-year OAT yield to 4.85% according to the latest Bank of France survey from October 19. Moody's is due to reexamine France's sovereign rating on October 23. The group is also exposed to the building cycle: construction climate in France stands at -17.2 in September according to Eurostat, and building permits for housing are down 9.5% year-on-year. The €131.30 level becomes a reference to watch on the upside, while resistance is located at €148.40.