OctaFX | OctaFX Forex Broker
Open trading account
Back

CAC undeterred by shrinking service sector activity

FXStreet (Mumbai) - The French equity markets remained largely unaffected by the release of HSBC data which showed that the dominant services sector fell for a second straight month in October.

The Cac is trading 0.96% higher at levels, compared to the previous session’s close of 4130 levels. The index breadth is extremely positive with all 40 stocks trading in the green. The shares in the global telecommunication company Alcatel-Lucent gained 3.28%, followed by shares of Alstom, Carrefour which gained 2% each. Meanwhile, the Cac Oil and Gas sector too, is trading 0.62% higher today.

Moreover, the stock markets have ignore the weak service sector data. The final reading for the French service sector PMI came-in at 48.3, compared to the expectation of 48.1. Though the data was better-than-expected, it remained below 50.00 levels, highlighting the contraction in the activity.

Cac Technical Levels

The index has an immediate resistance at 4182, above which the prices can rise to 4196 levels. On the other hand, the index can fall to 4140 levels if the immediate support at 4166 is breached.

Iceland CBI Interest Rate Decision declined to 5.75% from previous 6%

Read more Previous

LME Inventory Update

The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels Copper and Lead. Meanwhile, the data showed a rise in the inventory levels of Aluminium and Zinc.
Read more Next
Start livechat