23 Dec 2014
CAC rises on upbeat GDP report
FXStreet (Mumbai) - The French equity markets gained strength today in line with its European peer after the official data confirmed that the French economy grew 0.3% in the third quarter.
The Cac index traded 0.61% higher at 4280.50, compared to the previous session’s close at 4254.43 levels. The index breadth is positive with an advance-decline ratio of 34:6. The Cac Oil and Gas Producers index is up 0.93%, Bank index and Oil and Gas index have each gained 0.95%. Minor losses are being witnessed in Technology and Hardware index, Leisure Goods index, and Real Estate index.
Among the index stocks, Technipis the top gainer, up 2.01%, followed by a 1.555 gain in Solvay. Other major gainers include Michelin, Credit Agricole, and GDF Suez. Meanwhile, stocks like Unibail-Rodamco, Alcatel-Lucent, and Cap Gemini have posted minor losses.
Cac Technical Levels
The index has an immediate resistance at 4297 (Dec. 22 high), above which gains could be extended to 4334 (Sep. 29 low). Meanwhile, support is seen at 4275 (Nov. 6 high) and 4239.80 (Dec. 22 low).
The Cac index traded 0.61% higher at 4280.50, compared to the previous session’s close at 4254.43 levels. The index breadth is positive with an advance-decline ratio of 34:6. The Cac Oil and Gas Producers index is up 0.93%, Bank index and Oil and Gas index have each gained 0.95%. Minor losses are being witnessed in Technology and Hardware index, Leisure Goods index, and Real Estate index.
Among the index stocks, Technipis the top gainer, up 2.01%, followed by a 1.555 gain in Solvay. Other major gainers include Michelin, Credit Agricole, and GDF Suez. Meanwhile, stocks like Unibail-Rodamco, Alcatel-Lucent, and Cap Gemini have posted minor losses.
Cac Technical Levels
The index has an immediate resistance at 4297 (Dec. 22 high), above which gains could be extended to 4334 (Sep. 29 low). Meanwhile, support is seen at 4275 (Nov. 6 high) and 4239.80 (Dec. 22 low).