Solid News

CAC 40 Market Update

10/31/2022 12:57 PM

One of the leading indexes of the European economy CAC 40 corrects upwards, trading at around 6283.0 after the release of macroeconomic data last Friday.

The Gross Domestic Product (GDP) of France in the third quarter grew by 0.2%, which coincided with analysts' expectations, while the annual rate added 1.0%, which also remained within the forecasts. The Consumer Price Index in September increased by 1.0%, which significantly exceeded the expected 0.5% and led to an increase in the annual rate by 6.2% instead of the projected 5.7%. Thus, the Harmonized CPI rose by 7.1% from 6.2% a month earlier.

The growth of the stock index is facilitated by the situation in the domestic bond market, where there is a significant downward correction. Thus, the yield on popular 10-year Treasuries is 2.605%, which is lower than 2.988% at the beginning of last week, global 20-year bonds of France are trading at a rate of 2.993% after 3.370%, shown in mid-October, and 30-year bonds are trading at a rate of 2.886%, which is not only inferior to the yield of less long-term securities, but also much lower than 3.290% recorded in mid-October.

The growth leaders in the index are Airbus Group SE (+3.66%), Sanofi SA (+3.25%), Danone SA (+2.90%).

Among the leaders of the decline are ArcelorMittal SA (-2.76%), STMicroelectronics NV (-2.21%), Vivendi SA (-2.04%), Kering SA (-1.56%).

The asset quotes are in the global descending corridor, approaching the resistance line.

Technical indicators strengthen the buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO oscillator histogram, being in the buy zone, continues to form ascending bars.

Support levels: 6170.0, 5840.0. | Resistance levels: 6400.0, 6630.0.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024