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CAC 40 futures struggling to push higher into the opening
As noted earlier, when looking at the DAX futures this morning, the lower close for the CAC 40 yesterday was mentioned. Well, prior to that close, the index had been pushing higher, rising above 7,950 and seemingly on track for another look above 8k. Well, that prospect got kicked into the long grass, perhaps due to someone getting wind of the latest results from the French luxury giant, LVMH. So, the CAC dived more than 100 points in rapid fashion ahead of those results. The results from LVMH later confirmed a disappointing Q4 net profit figure, some 1 billion Euros below estimates. So, the CAC 40 defied the gains that surrounded it and closed lower on the day, at 7,897. The index futures have struggled since and of course there is not much tech in the CAC and that is a headwind more generally these days. The index is right now priced to reopen around 7,885
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