Rexel shares rise 2.85% and regain their MM50 at €35
The electrical equipment distributor is accelerating in a well-oriented Parisian market and recovering part of the ground lost since the start of autumn. The stock is returning to a medium-term benchmark, after a quarterly publication that was well received and several weeks marked by numerous financial operations.
A rebound that puts the stock back above its MM20 and in contact with its MM50
Rexel shares gained 2.85% to €35.06 intraday, compared with €34.09 at the previous day's close. The stock is among the strongest gainers in the SBF 120, which rose 0.52% at midday.
The stock trades above its 20-day moving average (MM20) at €33.78, a gap of 3.79%, and in contact with its 50-day moving average (MM50) at €35.03, whereas it had remained below all of its moving averages when it was losing ground in mid-October. It nevertheless remains below its 200-day moving average (MM200) at €36.05, or 2.75% above the current price.
Over the week, it is up 1.95%, but it remains down 5.58% over three months, so the day's rebound only erases a small part of the quarterly decline. The €36.37 level, identified as resistance, sits 3.7% above the current price.
A supported Parisian market, while French debt remains under pressure
The Paris session is positive: the CAC 40 gains 0.48% to 8,217.39 points, following a sharply higher US close on Wednesday, with the S&P 500 up 1.58% and the Dow Jones up 3.03%.
The French budget backdrop remains in the background: the 10-year OAT yield stands at 4.88% according to the latest Banque de France reading of November 4, 1.56 points above the Bund, after the committee rejected the second part of the 2027 finance bill.
On the economic front, construction remains weak: the French construction climate stands at -20.9 in October, with production down 5.0% year on year.
Rexel unveiled sales up 11.4% in the third quarter on October 22, with its annual growth target raised to approximately 7%, from approximately 5% previously. The stock trades in the upper part of its recent range, between its MM20 and its €36.37 resistance.
