Société Générale stock breaks below its 61 € support with RSI at 28
The bank headquartered in La Défense is intensifying its decline mid-morning, within a CAC 40 also oriented downward but less affected than the stock. It slips to the bottom of the index rankings, while tension over French debt remains at the center of discussions ahead of a rating review.
A support level of 60.98 € touched in a marked decline session
The stock loses 2.48% to 61.00 €, in contact with its support threshold at 60.98 €, while the CAC 40 retreats 1.42%. The price is 6.3% below its 20-day moving average and more than 13% below its 50-day moving average: the gap is widening with its moving averages. The RSI at 28 reflects a prolonged decline, with a decline of 16.7% over one month, excluding the dividend detachment of 0.750 € on October 5. The stock has traded ex-dividend since this date and this measure takes this into account, so that the decline is nothing mechanical.
The OAT at 5% and Moody's review weigh on the Paris market
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The Paris market is evolving under tension over French debt: the 10-year OAT reached 4.99% on October 21, with a spread of 1.58 points over the Bund, according to central bank records. Moody's is set to re-examine France's rating on Friday, October 23. Société Générale historically moves in the same direction as the slope of interest rates in the euro zone, a relationship observed since 2014 and not a forecast.
On the fundamentals side, the group published a record net result of 3.5 billion € in the first half of 2026 (published on July 30). Third quarter results are expected on October 29.
Résultat net part du Groupe record au S1-26 de 3,5 Md EUR, en hausse de +13,9% vs. S1-25, ROTE de 12,0% au S1-26
Risks mentioned
Revenus de la Banque de Grande Clientèle en baisse de -1,3 % au S1-26 vs. S1-25
Activités Taux, Crédit et Change en retrait de -15,0 % sur le semestre
Coût du risque en hausse de +6,6 % à 745 millions d'euros au S1-26
Opportunities identified
Cible de ROTE 2026 rehaussée à environ 11 % grâce à l'effet de ciseaux positif
Acompte sur dividende en hausse de +23 % et rachat d'actions exceptionnel de 1,5 Md€
Notation relevée par Fitch à « A+ » et perspective S&P passée à « positive »
Outlook / guidance
Management commentary: croissance des revenus Groupe vs 2025
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
