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21 Oct 2014
CAC retakes 4000, Arcelor Mittal rises 3.2%
FXStreet (Mumbai) - The French equity index is trading above the psychological level of 4000 today, supported by the sharp gains in the Steel, Leisure goods and the Industrial Transportation stocks.
The Cac is trading 1.42% higher at 4047.80, with the advance decline ratio of 38:2. Arcelor Mittal, the world’s leading integrated steel and mining company, is trading 3.1% higher today. Meanwhile, Valeo and Societe Generale have gained 2.6% each.
The Cac has inched higher today in line with its European peers, although it would be interesting to see if the index managed to finish the day above 4000 levels.
Cac Technical levels
The index has breached the immediate resistance of 4040 on the hourly charts, which has opened doors for a re-test of 4100 levels. On the flip side, prices may fall to 3960 levels if the index fails to sustain above 4040 levels.
The Cac is trading 1.42% higher at 4047.80, with the advance decline ratio of 38:2. Arcelor Mittal, the world’s leading integrated steel and mining company, is trading 3.1% higher today. Meanwhile, Valeo and Societe Generale have gained 2.6% each.
The Cac has inched higher today in line with its European peers, although it would be interesting to see if the index managed to finish the day above 4000 levels.
Cac Technical levels
The index has breached the immediate resistance of 4040 on the hourly charts, which has opened doors for a re-test of 4100 levels. On the flip side, prices may fall to 3960 levels if the index fails to sustain above 4040 levels.