CAC 40 still just cannot hold a rally

The CAC 40 was the weakest of the three major European stock market indexes by the close yesterday. The CAC ended the session 0.98% lower and that compared to a loss of 0.83% for the DAX and 0.35% for the FTSE 100. The CAC closed 74 points lower, at 7,500. The outlook for the index here remains negative and it has been that way ever since the outcome of the French elections and it seems there is little in the way of fresh positive news to alter that outlook. As reported here previously, the index was unable to make any meaningful progress despite the recent records seen across the border in the DAX and what is also clear; is that rotation out of French stocks and into the DAX has been a theme for some while now. Look, there will be rebounds and rallies, but the overall direction remains highly uncertain, until the domestic political situation is resolved. The CAC is set to open lower this morning, currently at around 7,477