Michelin stock breaks through its 33.05 € support, ahead of its sales figures

A support level broken during the session, moving averages to reclaim

The Michelin stock fell 2.55% to 32.81 €, among the largest declines in the CAC 40, while the index dropped 1.31% and the SBF 120 fell 1.29%. The stock broke through its 33.05 € support level during the session, which it had nonetheless reclaimed on October 14 after losing it in early October. It simultaneously fell below its MA20 (33.59 €), at 2.3% from the price, and below its MA50 (34.02 €).

Only the MA200, at 32.56 €, remains below the price, with a gap of 0.8%. Over three months, the stock shows a decline of 6.6%, but it maintains a gain of more than 21% over one year. Brent crude, at 108.42 $ per barrel (-1.3% during the session), declined following the freeze on American sanctions on Russian energy, in a context where French rates remain tight: the ten-year OAT stands at 4.79% according to the latest Bank of France report dated October 16.

H1 2026 results, share buybacks and European CO₂ issue

Michelin publishes its revenue for the first nine months on October 20. During the first half results published on July 27, 2026, the group reported nearly stable revenue and an operating margin of 11.4%. It cited among its risks an unfavorable exchange rate effect, which weighed 3.1% on its revenue, and first-fit markets still depressed. Michelin brand volumes, however, advanced 5% in the replacement market.

Over twelve months, the group repurchased 731 M€ of its own shares, representing 3.2% of its capitalization, according to its latest declaration dated October 1. On the automotive sector side, Paris and Berlin reached a common position on October 17: ease CO₂ objectives in exchange for a bonus reserved for vehicles produced in Europe. The text remains a proposal, to be submitted to other member states. The October 20 meeting will be the next test for the stock.