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French politicians dent the opening outlook for the CAC 40 today
There is growing uncertainty in France, as to how French politicians might be able to form an effective government. That has been highlighted by a new dispute between the left hand side of the political divide and lack of consensus in the outcome of the recent election there. This dented the CAC 40 yesterday and right now it is denting the opening outlook this morning too. The CAC 40 was the worst performing major European stock market index again yesterday. The CAC closed 1.19% lower, compared to a loss of 0.85% for the FTSE 100 and 0.84% for the DAX. The CAC closed at 7,632 after failing again to hold an earlier high above 7,700. More usually one might expect the stock market to be rising into an Olympic event, but right now that is clearly not the case for the French market. The CAC 40 futures are currently pricing the opening at close to 7,600 this morning
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