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CAC 40 set for a higher opening today
Yesterday the CAC 40 led the European markets lower. The impact of the surprise snap election called on Sunday by President Macron really had a negative impact on the French stock markets. The CAC crumbled to a low at 7,812. It had closed the day before at 8,001. The index closed yesterday at 7,893, with a loss of 107 points (-1.35%) and that made it the worst performing major European stock index, by some margin. There is little doubt here; that the falls in the CAC led the FTSE 100 and the DAX lower. However, the CAC 40 is called to open higher this morning, as the fallout from yesterday seems to dissipate somewhat. That said, it is noted that French bank bonds are widening this morning, which is a little at odds with the rebound in the CAC futures. The CAC 40 is currently priced to reopen at around 7,920
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