One of the leading indices of the European economy, CAC 40 (INDEXEURO: PX1), continues to moderately strengthen against the background of the publication of the ECB’s monetary policy report. The US stock market is closed today.
The CAC 40 Index is a benchmark French stock market index. CAC depicts a capitalization-weighted measure of the 40 most meaningful stocks among the 100 biggest market caps on the Euronext Paris. CAC 40 is one of the primary national indices of the EURO stock exchange group Euronext alongside Brussels‘ BEL20, Lisbon‘s PSI-20 and Amsterdam‘s AEX.
The positive rhetoric of the regulator supported the instrument. The forecast for real GDP growth by the end of the year is expected to reach 1.3% against the current value of 0.8%. HICP annual inflation fell to 1.2%, and a further decrease due to low energy prices is expected in the coming months.
Market indicators of long-term inflation expectations fell to a new record low, while the five-year forward swap rate in the EU associated with inflation was five years ahead of it by 0.92% on March 10, 2020. At the end of the report, the ECB announced the next LTRO III support program for 120 billion euros.
Among the components of the index, the growth leaders are Sodexo SA (+12.90%), Safran (+6.16%), BNP Paribas (+5.38%), Engie (+4.92%). Among the declining companies are Carrefour (–3.20%), Michelin (–0.98%).
Here is a list of all the stocks in the CAC 40:
|Air Liquide||commodity chemicals||AI.PA|
|AXA||full line insurance||CS.PA|
|Carrefour||food retailers and wholesalers||CA.PA|
|Engie||gas and electric utility||ENGI.PA|
|Hermès||clothing and accessories||RMS.PA|
|Legrand||electrical components and equipment||LR.PA|
|LVMH||clothing and accessories||MC.PA|
|Pernod Ricard||distillers and vintners||RI.PA|
|Safran||aerospace and defence||SAF.PA|
|Saint-Gobain||building materials and fixtures||SGO.PA|
|Schneider Electric||electrical components and equipment||SU.PA|
|Sodexo||food services and facilities management||SW.PA|
|TechnipFMC||Oil and Gas services||FTI|
|Total||integrated oil and gas||FP.PA|
|Unibail-Rodamco-Westfield||real estate investment trusts||URW.AS|
|Veolia||water, waste, transport, energy||VIE.PA|
|Vivendi||broadcasting and entertainment||VIV.PA|
Support and resistance
CAC 40continues corrective growth within the local Triangle pattern. For almost the entire week, the index trades near the pattern’ resistance line but cannot break it. Both technical indicators are in positive territory, and further growth is only a matter of time.
Resistance levels: 4600.0, 5100.0.
Support levels: 4300.0, 3970.0.
Tom, aka T Rex, is seasoned financial pro that cut his teeth on the Chicago trading oil futures in 1995. He has bachelor’s degree in finance and management. In less than 3 years he bought his own seat and set up shop on the exchange. For the next 10 years Rex traded his own account and some institutional accounts. In 2017, he decided to move to Florida and focus on educating traders and writing for financial websites.