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CAC 40 close to a new interim low now
The latest polls on the first round of the French election on Sunday and now pointing to a potential right wing alliance that might just gain enough votes to put Le Pen in power. Of course that is by no means a given and it is just a poll at the end of the day, but this is not being wasted on French stock market investors and the earlier attempt to hold a rally back above 7,500 has since given way to fresh downside and just now the index is threatening that interim low, at 7,464. The index is clinging to that just now (7,469 the cash index low), but it does not appear to require much to see that taken out at some stage this afternoon. You see, there is not much time left for investors to hedge their bets ahead of the weekly close this afternoon. The CAC 40 is currently trading at 7,470
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