18 Dec 2014
CAC jumps 2% to trade above 50-DMA
FXStreet (Mumbai) - The French equity markets opened higher and continued to extend gains in line with other European equity markets, to trade above the 50-DMA located at 4200.00 levels.
The Cac traded 2.41% higher at 4210.80 at the time of writing, compared to the previous session’s close of 4111.91 levels. All 40 index stocks are trading in the green today. The Cac Oil and Gas index is up 2.98%, followed by similar gains in Oil and Gas producers index. The Construction and Material index is up 2.98% as well.
Meanwhile, shares in the French insurer AXA gained 4.22%, after the company agreed to reach an agreement with Certinvest and SIF Transilvania to sell its Life & Savings insurance operations in Romania and exit the Romanian market. Other major gainers include Lafarge, Technip, Vinci, and Bouygues.
CAC Technical Levels
The index has an immediate resistance at 4263 (100-DMA), above which gains could be extended to 4300 levels. Meanwhile, support is seen at 4200 (50-DMA) and 4132 levels.
The Cac traded 2.41% higher at 4210.80 at the time of writing, compared to the previous session’s close of 4111.91 levels. All 40 index stocks are trading in the green today. The Cac Oil and Gas index is up 2.98%, followed by similar gains in Oil and Gas producers index. The Construction and Material index is up 2.98% as well.
Meanwhile, shares in the French insurer AXA gained 4.22%, after the company agreed to reach an agreement with Certinvest and SIF Transilvania to sell its Life & Savings insurance operations in Romania and exit the Romanian market. Other major gainers include Lafarge, Technip, Vinci, and Bouygues.
CAC Technical Levels
The index has an immediate resistance at 4263 (100-DMA), above which gains could be extended to 4300 levels. Meanwhile, support is seen at 4200 (50-DMA) and 4132 levels.