TotalEnergies Shares Plunge Over 5%, the Biggest Loser in the CAC 40
The French oil major experiences its toughest session on the CAC 40, moving against a generally bullish Paris index. The stock is caught by the fall in Brent crude, amid an announced framework agreement between Washington and Tehran. The break of a closely watched technical threshold intensifies the movement.
The stock loses more than 5% due to a marked decline in Brent
TotalEnergies shares fell by 5.21% to €72.40, down from a last close at €76.38. The stock recorded the steepest decline in the CAC 40, while the index itself gained 1.08% to 8,441.47 points. Shell also fell by 4.34%, in an energy sector isolated from the general rebound. The movement is directly related to the decline in Brent, which dropped to $84.29 per barrel (-3.48% in session), following the announcement of an American-Iranian framework agreement extending the ceasefire by 60 days and planning the gradual reopening of the Strait of Hormuz.
This strait, through which about one-fifth of the world's oil passes, had been nearly blocked for more than three months, fueling a geopolitical risk premium that is now deflating. The decline erases all the benefits of the recent momentum: over a week, the stock is now down 6.42%, and over a month 7.51%. The day's drop continues the downturn from June 12, already triggered by the first signs of de-escalation in the Middle East. The scenario is a sharp reversal from May, when the stock was nearing €80 with Brent at $111.
The €75.18 threshold breaks, paving the way to the MM200 at €63.34
The break of the support at €75.18 is the technical highlight of the session. The stock has decisively fallen below its short-term moving averages, with a gap of 6.66% below the MM20 at €77.57 and 6.52% below the MM50 at €77.45. The MM200 at €63.34, which remains 14.30% below the current price, is the next structural benchmark for the medium term. The RSI at 45 remains in the neutral zone, indicating no immediate overselling that could mechanically slow down the decline.
The MACD remains in negative territory, the histogram at -0.02 confirming the fatigue that has set in over several sessions. In terms of valuation, the stock is trading at approximately 7.4 times the earnings of the current fiscal year according to the consensus of surveyed analysts, a multiple that reflects the sensitivity of the case to the oil cycle. The next operational milestone will be the capital increase reserved for employees at €62, with the subscription fitting into the already announced schedule. In the short term, the stock's performance will depend on the trajectory of crude oil, while the World Bank forecasts an average Brent price of $94 in 2026 in its baseline scenario.
