Schneider Electric shares, second in the CAC 40, rebound nearly 3%
The Rueil-Malmaison electrical equipment group is among the best performers of the Paris index in mid-afternoon trading. The rebound follows several weeks of decline linked to the financing of the acquisition of US software publisher PTC, and the stock remains below its long-term averages.
A rebound that brings the stock back to its MM20
Schneider Electric shares gain 2.87% to €242.10 and rank second in the CAC 40, behind STMicroelectronics (+4.7%), while the index rises 0.28%. The price moves back above its MM20 (€240.71, a 0.58% gap), marking a recovery after the test of the support at €227.85 earlier this week.
The stock nonetheless remains 9% below its MM50 (€266.01) and nearly 10% below its MM200 (€268.82), which explains a 19.9% decline over three months, even though the week remains positive (+0.98%). The RSI at 45 is neutral.
The financing of the PTC acquisition still weighs on the stock's performance
At the end of October, the group completed the financial component of its acquisition of PTC, with a capital increase of approximately €6 billion on October 20, followed by a bond issue of the same amount. This sequence coincided with a 9.1% decline over one month, while the group had raised its adjusted EBITA target on October 16 following third-quarter revenue up 16.9% organically.
Legrand, another stock in the sector, rises 1.73% today and has fallen 0.68% over one month. The next technical reference level is the MM50, at €266.01.
