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CAC 40 futures in the red this morning following a record close yesterday at 8,201

The CAC 40 index was the best performing major European stock market index yesterday. The French index posted its first ever daily close above 8,200. The index rose 52 points and closed at 8,201. The high seen on the session was set at 8,202. The current all time record high, set on March 14, remains in place at 8,218. However, the CAC futures are lower this morning and currently pricing an opening at around 8,135. The downside this morning is being led by premarket losses in the luxury sector, which is a major driving force behind recent gains. The news that the UK fashion outfit, Ted Baker has gone under has probably not helped that sector. 

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