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CAC tries to retake 4200

FXStreet (Mumbai) - The French equity index, Cax, is trying hard to sustain gains above the 4200 level, which it lost yesterday by closing at 4194 levels.

The Cac is trading 0.20% higher at 4202. The index breadth is positive with an advance decline ratio of 32:8. However, the index is struggling to sustain gains above the 4200 mark, after hitting a high of 4209. Meanwhile, the shares in the French multinational Publicis Groupe are up 307%, after the company acquired the digital company Sapient in a USD 3.7 billion all-cash deal. Other top gaining stocks for the day are Renault, Gemalto, Michelin and Veolia. Meanwhile, the index is being pressurized by shares of Arcelormittal, L’Oreal, Total, Technip and Alcatel-Lucent.

Among the sectors, the Oil and Gas is the worst performer with the losses of 1.32% today.

Cac Technical levels

The index has a strong resistance located at 4246. On the other hand, the index may fall to 4170 levels if the prices fail to sustain gains above the 4100 levels.

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