Safran Share: One of the Sharpest Declines on the CAC 40, -5% in One Week
The aerospace and defense engine manufacturer is among the most withdrawn values on the Paris exchange, while the index remains relatively stable. The share extends a decline that began in recent weeks, and it is now trading below its three moving averages.
A Share Below its Three Moving Averages, at the Contact of its Support
The price is at €313.60, down 1.51% on the session, when the CAC 40 rises 0.05%. This places Safran among the sharpest declines in the index. The decline adds to a loss of 4.91% over the week, so the share is now below its MA20 (€327.92, gap of 4.37%), its MA50 (€338.20) and even its MA200 (€317.59), by only 1.26%.
The support at €310.80 is now less than 0.9% from the price: it had already given way in early October, before the rebound on October 9. The MACD remains negative (-4.01 for -2.46 on the signal line) and the RSI at 41 remains neutral, which describes installed selling pressure without excess oversold conditions.
A €375 Million Share Buyback Executed at Approximately 68%
The group announced on September 18 a share buyback program of €375 million. As of October 12, approximately €254 million had been repurchased, or nearly 68% of the allocation. Over twelve months, buybacks totaled €1.3 billion, or 1.0% of market capitalization, which reduces the number of outstanding shares.
On the context side, the Paris session is taking place as tension on French debt remains strong: the 10-year OAT is at 4.86% according to the latest Bank of France reading from October 12, or approximately 1.40 points above the Bund. The share trading at €313.60 is less than 1% from its support at €310.80, the next technical level that the data allows to track.
