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European stock markets open higher- CAC 40 stalls above 7,600 for now
The European stock markets have just reopened for live trade and as expected it has been a higher start to the day and in terms of the DAX, a record opening level too. The index is now pushing onwards and upwards to set fresh records as it closes in on the 19,600 handle. At the same time, both the FTSE 100 and CAC 40 have opened slightly higher as well, but no fresh records there of course. The CAC 40 closed yesterday above 7,600, rising 24 points on the day, at 7,602. The index has just reopened above that level, perhaps buoyed by recent French CPI data falling below estimates in the latest count earlier this morning. It is clearly fair to say that both the CAC and the DAX are being pushed higher by the prospect of an ECB rate cut on Thursday. That said, it is clearly still the DAX that is attracting all the hot money flow. The CAC 40 is just now edging back below the 7,600 mark
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