13 Jan 2015
CAC inches higher
FXStreet (Mumbai) - The French equity index Cac advanced today in line with other major European markets despite weakness in the energy shares.
The Cac currently trades 0.64% higher at 4255.80, compared to the previous session’s close at 4228.24 levels. The index breadth is positive with an advance-decline ratio of 32:8. Among stocks, shares in Veolia are up 3.2%, followed by a 2.75% gain in Carrefour. Schneider Electric and Michelin gained 2.1% each. Meanwhile, on the losing side are shares in Gemalto; down 2.14%, Arcelormittal; down 0.98%.
The gains in the index have been capped by weak Energy shares. The Oil and Gas index trades 0.62% lower after the oil prices neared six-year low.
CAC Technical Levels
The index has an immediate resistance located at 4272.83 (Jan. 9 high), above which it could rise to 4300.00 levels. Meanwhile, support is seen at 4222 and 4170 levels.
The Cac currently trades 0.64% higher at 4255.80, compared to the previous session’s close at 4228.24 levels. The index breadth is positive with an advance-decline ratio of 32:8. Among stocks, shares in Veolia are up 3.2%, followed by a 2.75% gain in Carrefour. Schneider Electric and Michelin gained 2.1% each. Meanwhile, on the losing side are shares in Gemalto; down 2.14%, Arcelormittal; down 0.98%.
The gains in the index have been capped by weak Energy shares. The Oil and Gas index trades 0.62% lower after the oil prices neared six-year low.
CAC Technical Levels
The index has an immediate resistance located at 4272.83 (Jan. 9 high), above which it could rise to 4300.00 levels. Meanwhile, support is seen at 4222 and 4170 levels.