CAC 40 finding some Christmas joy this morning

As this update is being typed the CAC 40 is just about the best performing European stock market that is open today. The CAC did not quite manage to post a higher close yesterday, missing out by just a couple of points. The index closed at 7,272.32. It reopened higher this morning though, at 7,296.69 and it has pushed its way above the 7,300 handle. The next resistance level could be at 7,326.81 which was the high point seen on December 19. The move higher today seems to stem from a degree of short-covering ahead of the Christmas break and it is being fuelled by mounting speculation; that the new French government might just be able to make some progress. That, if seen could be a game-changer for the CAC going forward, but there is a lot of water to flow under the bridge before we can truly cast such a judgement. The CAC 40 is currently trading around 7,314