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CAC 40 set for a higher opening this morning but will it last?

The main driver and focus amongst the European stock markets this week has without doubt been the CAC 40. Yesterday the CAC fell to a new interim low at 7,759 and later closed 104 points lower, at 7,789. That close helped to ensure lower closes for the FTSE 100 and the DAX, but it was the CAC that led the way again in percentage terms, falling by 1.33%. The FTSE closed 0.98% lower and the DAX ended the session with a loss of 0.68% on the day. There will be more to add on both those later this morning. The gains in the Nasdaq 100 last night might have helped to spur the European opening outlook because the Dow Jones futures are a little higher this morning. So, right now the CAC 40 is priced to reopen above 7,800. However, and as noted here yesterday, it was the opening rebound then that merely allowed investors a better level to sell stock. Perhaps we will see if that dynamic is the same later today. The CAC 40 is currently priced to reopen at around 7,825
 

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