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CAC rises above 4100

FXStreet (Mumbai) - The French equity markets extended their gains today, despite French PMI figures falling to an 8-month low in October.

The CAC is trading 0.30% higher at 4118.30 levels, after having recovered from the day’s low of 4047.80. Moreover, the gains are in line with the other European equity markets. At domestic front, the economic data points to worsening of conditions. France's manufacturing PMI came-in at 47.3, while the Economists had expected a 48.5 print.

The market breadth is positive with an advance decline ratio of 24:16. The top gaining stocks of the day includes - Safran +3.71%, Orange +2.98%, Pernod Ricard +2.56%. Meanwhile, the gains in the index are capped by stocks like Michelin and Gemalto, which are trading down by 4.9% and 4.36% respectively.

Cac Technical levels

The index has an immediate support of 4114 (Aug 8 low), breach of which shall open doors for a re-test of 4050 levels. Meanwhile, the index can extend gains to 4160 levels if the prices manage to sustain above 4114 levels.

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