Solid News

CAC 40 Market Update

8/19/2022 2:15 PM

The French stock market is trading in a stable uptrend against the backdrop of the continued decline in the domestic bond market and the end of the active phase of the publication of corporate swelling. Currently, one of the leading indexes of the European economy, CAC 40, is being corrected around 6543.0.

Only Christian Dior SE released its earnings report today, with quarterly revenue of 36.73B euros, in line with the company's consensus. Earnings per share amounted to 14.84 euros, a positive indicator that provided the corporation's shares with growth in today's trading.

The global downward correction continues in the domestic bond market, and the yield on popular 10-year government bonds is at 1.684%, lower than 1.853% in mid-July. The situation with long-term 20-year bonds is similar, and their yield is 2.082% against the background of July's value of 2.287%. As for the recent placement of medium-term securities, yesterday's auctions consolidated the rate on 3-year bonds at 0.98% and on 5-year bonds – 1.27% compared to 1.00% and 1.47%, shown by them at past placement.

At the moment, the growth leaders in the index are STMicroelectronics (+3.23%), TotalEnergies SE (+2.44%), Teleperformance SE (+1.62%), and Unibail-Rodamco-Westfield SE (+1.26%).

The decline leaders are: Compagnie de Saint-Gobain SA (-2.59%), Vivendi SE (-1.57%), Veolia Environnement SA (-1.38%) and Credit Agricole Group (-1.13%).

The trading instrument has left the global downward channel and continues to grow steadily.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms multidirectional bars in the buying zone.

Resistance levels: 6612.0, 6891.0. | Support levels: 6424.0, 6074.0.

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