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Is the CAC set to extend below 7,500 this time?
Very shortly, at 7am GMT the French CAC 40 stock market index will reopen. The index closed yesterday at 7,576, with a gain of 34 points on the day. Now last week, the index had defied another technically negative close on Thursday, below the 7,500 handle. By and large we can thank the US jobs report for that as it lifted US stocks and seemed to float all European boats ahead of the weekend too. Well, given the weaker US closes last night, it would make sense for the CAC 40 to resume its downward path it seemed set on last Thursday. The index fell back to 7,458 that day. It is just now priced to reopen in a minute or two at around 7,507 so we shall see as the day unfolds, if that is the case
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