17 Dec 2014
CAC recovers losses, Louis Vuitton falls 8%
FXStreet (Mumbai) - The French equity index, CAC, recovered from a weak opening to trade marginally lower ahead of the all important Federal Reserve policy statement, due later today.
The CAC index now trades 0.21% lower at 4084.30 levels, after having recovered from the low of 4036.80. The index breadth is negative with an advance-decline ratio of 10:29, with one stock trading unchanged. The CAC Bank index declined 1.15%, followed by the industrial engineering index, which fell 1.13%. Meanwhile, Oil and Gas index and Oil and Gas producers index gained 0.67% and 0.625 respectively. The personal Goods index is up 2.04%.
Among the index stocks, Renault advanced 1.17%, followed by a 0.7% gain in Michelin. Other gainers include stocks like Technip, Total, and Vinci. On the other hand, shares in Louis Vuitton tanked 8.19%, while Gemalto and Credit Agricole lost 2.9% each. Societe Generale is down 2.51%,, followed by a 1.64% fall in Alstom.
CAC Technical Levels
The index faces immediate resistance at 4097.80, above which gains could be extended to 4144.31 levels. On the other hand, a break below support at 4037, shall open doors for a re-test of 3951 levels on the downside.
The CAC index now trades 0.21% lower at 4084.30 levels, after having recovered from the low of 4036.80. The index breadth is negative with an advance-decline ratio of 10:29, with one stock trading unchanged. The CAC Bank index declined 1.15%, followed by the industrial engineering index, which fell 1.13%. Meanwhile, Oil and Gas index and Oil and Gas producers index gained 0.67% and 0.625 respectively. The personal Goods index is up 2.04%.
Among the index stocks, Renault advanced 1.17%, followed by a 0.7% gain in Michelin. Other gainers include stocks like Technip, Total, and Vinci. On the other hand, shares in Louis Vuitton tanked 8.19%, while Gemalto and Credit Agricole lost 2.9% each. Societe Generale is down 2.51%,, followed by a 1.64% fall in Alstom.
CAC Technical Levels
The index faces immediate resistance at 4097.80, above which gains could be extended to 4144.31 levels. On the other hand, a break below support at 4037, shall open doors for a re-test of 3951 levels on the downside.