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Schnabel comments weigh on European stocks- CAC slips further
Following on from the previous update, noting the very hawkish comments from the ECB governor, Schnabel, the European stock markets have taken exception to this. The DAX has fallen back closer to the 19,200 level and the CAC 40 is in deeper trouble. It was already under pressure anyway, following the release of a weaker than forecast French consumer confidence index and these comments have dealt it a further blow. The CAC is now closing in on the 7,100 handle. The reader is once again reminded of the downside risks that have been a highlighted here for a very long time now. The CAC 40 is currently trading at 7,115. So, will it now head for a test of 7k once more? Well, it looks more likely than not right now, but we shall see
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