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CAC 40 trades below 7,500 even as French Services sector PMI revised higher.
The European stock markets have fallen back further since the last update here highlighted the potential for the DAX to test the 19k handle. Well, it has just done that and fallen below the level, ahead of the September German service sector PMI revision due out shortly. We have already had the same from Spain and Italy. Spain has been revised higher and Italy has been revised lower and it is clear that the Spanish economy is the sweet spot when it comes to Europe at the moment. In fact the French Services PMI data has just been released and it has actually been revised higher, but not above the 50 mark that defines expansion. Just ahead of this report the CAC 40 traded below 7,500 and it remains to be seen, if the German data will follow suit shortly. The CAC 40 is currently trading at 7,495 and not yet reacting positively to that data
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