CAC 40 predicted To Continue Upward Trend
The end of last week saw the CAC 40 fall during most of Friday but it did manage to turn things around and close at €4381.04, 15 points up from the beginning of the day.
Of the 40 companies listed on the CAC 40, 23 saw their share prices rise, 16 saw their prices fall and the remaining company closed flat. Veolia Environment saw the biggest gain with a 1.6% increase while Renault lost the most, dropping 2.93%.
Overall the CAC 40 has been rising steadily for quite some time and most believe that it will continue following this upwards trend. The last week saw it just about hit the €4400 level before falling back below it. Most analysts believe that it should break through this level over the coming week and some are predicting that it will hit €4600 in the near future.
Last week saw French President Francois Hollande and Prime Minister Manuel Valls replace three ministers as part of their attempts to end a cabinet revolt over spending cuts. The country now has a new economic minister, Emmanuel Marcron, who has already suggested a number of reforms to help the country’s struggling economy. The reaction he gets in the coming week will almost certainly have an impact on the CAC 40.