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CAC trades below 4000

FXStreet (Mumbai) - The French equity index has declined below the 4000 mark today, slowly erasing the Friday’s gains.

The Cac is trading 1.25% lower at 3982.80 levels, down from the day’s high of 4031.30. The index had posted a strong recovery on Friday which saw the prices finishing well above 4000 levels.

The index details reveal Gemalto stock, the world leader in digital security, as the biggest loser of the day, with losses of 5.9%. Meanwhile, Carrefour and Sanofi are down by 2% each, while the oil and gas company, Total, is down by 2.92%. Lending some support to the index is the French electrical and data network solution provider Legrand, whose stock is trading 1% up for the day.

CAC Technical levels

The index has an immediate support of 4040 levels (Friday’s high), above which the index can rally to 4100 levels. However, the prices have declined below 4000 levels today, opening doors for the re-test of 3800 levels.

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