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CAC 40 Down Almost 4% As French Markets Fall

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France stocks were reduced after the close as losses into the Foods & Drugs, Gas & liquid and General Financial sectors led shares lower Monday.

The CAC 40 declined 3.74% to hit a brand new 1-month low, as the SBF 120 index destroyed 3.73% at the close in Paris.

The best performers of the session on the CAC 40 were Carrefour SA (PA:CARR), which fell 0.67% or 0.09 points to trade at 13.34 at the close. Meanwhile, Pernod Ricard SA (PA:PERP) fell 1.48% or 2.05 points to get rid of at 136.50 and Dassault Systemes SE (PA:DAST) was down 1.50% or 2.40 points to 157.55 in late trade.

The worst performers of the session were SA that is arcelorMittal:MT), which dropped 8.39% or 0.97 points to trade at 10.57 during the close. Renault SA (PA:RENA) declined 7.75% or 1.75 points to end at 20.88 and Societe Generale SA (PA:SOGN) was down 7.66% or 0.97 points to 11.66.

The performers that are top the SBF 120 had been Biomerieux SA (PA:BIOX) which rose 1.72% to 130.20, Suez SA (PA:SEVI) which was up 1.30% to settle at 14.84 and Rubis SCA (PA:RUBF) which gained 0.67% to close at 36.14.

The worst performers were Vallourec (PA:VLLP) which was down 11.37% to 17.784 in late trade, TechnipFMC PLC (PA:FTI) which lost 11.25% to settle at 5.63 and CGG SA (PA:GEPH) which was down 10.51% to 0.615 at the close.

Dropping stocks outnumbered ones that are advancing the Paris stock market by 512 to 73 and 63 ended unchanged.

Shares in Societe Generale SA (PA:SOGN) fell to lows that are 5-year falling 7.66% or 0.97 to 11.66. Shares in Vallourec (PA:VLLP) fell to lows that are 5-year down 11.37% or 2.281 to 17.784. Shares in CGG SA (PA:GEPH) fell to okay time lows; falling 10.51% or 0.072 to 0.615.

The CAC 40 VIX, which measures the volatility that is implied of 40 choices, was up 18.55% to 26.50.

Gold Futures for delivery was down 2.73% or 53.65 to $1908.45 a troy ounce December. Elsewhere in commodities trading, Crude oil for delivery in November fell 4.45% or 1.84 hitting $39.48 a barrel, while the November Brent oil contract fell 3.82% or 1.65 to trade at $41.50 a barrel.

EUR/USD was down 0.81% to 1.1741, while EUR/GBP rose 0.05% to 0.9179.

The US Dollar Index Futures was up 0.87% at 93.763. France stocks were reduced after the close as losses mount.

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Justin N. Richards

Justin N. Richards is a Florida-based technical analyst, market researcher, educator, and trader. Justin began his career in Chicago in 2001 performing futures market analysis for floor traders at the Chicago Board of Trade and the Chicago Mercantile Exchange. He also worked for numerous brokerage firms during that time, all of which hold him in high regard, and he has been providing outstanding analysis services for traders worldwide ever since. Mr. Richards is an expert in the area of market patterns, price and time analysis as it applies to futures, Forex, and stocks. In addition to these talents, he provides educational services for investors looking to improve their analysis and trade skills. Justin has a B.A. in Business Administration from UCLA and an M.S. in Financial Markets and Trading from the Illinois Institute of Technology. Justin’s professional experience, education, and discipline, not only make him an exceptional analyst, they point him out as a reliable, hard working and intelligent business strategist who is dedicated to his craft.
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