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CAC hovers around 4100

FXStreet (Mumbai) - The French equity index, Cac, is hovering around 4100 levels after prices declined from the day’s high in line with the other European equity markets.

The Cac is trading 0.21% higher at 4005.50, down from the day’s high of 4128.80 levels. The index breadth is positive with an advance decline ratio of 38:2. Among the index stocks, Sanofi has lost 8.74% today after its quarterly profit dropped slightly. Moreover, the firm warned that the key Diabetes business will slow down in 2015. On the other hand, the index remains well supported by gains in stocks like – Vaelo, Technip, ArcelorMittal, Lafarge. Oil and Gas and Gas water stocks are trading up by 1.88% and 2.00% respectively.

Cac technical levels

The index has breached the immediate support of 4109 (Aug 8 low), under which prices can fall to 4065 levels. On the other hand, prices can rally to 4164 levels, if the hourly chart resistance of 4128 is breached.

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