SPIE Shares Drop to €47.04, Testing Key Support at €45.72
SPIE shares fell 2% to €47.04 in mid-afternoon trading, amidst a 0.46% decline in the CAC 40. The multi-technical energy and communications services specialist's stock has seen a weekly decrease of 2.97% but maintains a yearly gain of 6.47%. The group also recently delivered a new project in Poland for the Bydgoszcz Academy of Music.
Stock Falls Below MM20 and MM200 After Consolidation
The price is currently below the MM20 at €48.63 (a -3.27% deviation) and just under the MM200 at €47.59. The MM50, at €46.93, now acts as a very short-term buffer, with the price immediately adjacent to it (+0.23%). The RSI at 49 remains neutral, indicating neither seller exhaustion nor buyer excess. The identified support threshold is at €45.72, approximately 2.8% below the current price. Resistance is located at €51.75. Over three months, the stock has lost 9.1%, after fluctuating between €49 and €50 at the end of April.
Project Delivered in Poland and a €600 Million Sustainable Bond Issuance
The group announced the completion of a project to install telecommunications systems and technical management for the new Feliks Nowowiejski Music Academy in Bydgoszcz, Poland, through its subsidiary SPIE LTEC, which specializes in building automation. Earlier in the month, SPIE successfully placed a sustainable bond issue of €600 million, with a 5-year maturity and a coupon rate of 3.875%. This followed closely after the group achieved investment grade status, with Fitch upgrading its long-term credit rating to BBB- at the end of April. According to reviewed statements, net short positions cumulatively reach 2.85% of the capital, declared by three funds, an increase of 0.87 points over thirty days. This increase does not reflect a massive movement of distrust, but it indicates that some institutional investors remain positioned against the stock, or are seeking to cover exposure. The support level at €45.72 remains the short-term reference lower bound for the stock.
