CAC 40 Closes Up 0.33% at 8,340.56 Points
The French benchmark index ended Thursday with a 0.33% gain, settling at 8,340.56 points on a hefty €5.155 bn of turnover.
After breaching the 8,400‑point barrier early in the session, the CAC 40 peaked at 8,437 points before easing back slightly. The surge was powered by a series of solid earnings reports from heavyweight French companies:
- Michelin rose 4.88% to €33.95, with Q4 sales showing improvement.
- Essilor gained 4.19% to €261.30.
- Legrand advanced 3.01% to €149.00.
- Hermès climbed 2.55% to €2,174.00.
The breadth of these gains across different sectors lifted market confidence, while ArcelorMittal lagged, slipping 4.76% to €52.48.
February Futures – Key Levels to Watch
Resistance: 8,311 – 8,338 – 8,399.5 – 8,470 points
Support: 8,274.5 – 8,247 – 8,216 – 8,182 – 8,116 – 8,045.5 – 8,014.5 – 7,963 – 7,904 points
Intraday bias remains bullish as long as the index stays above the 8,358‑point mark.
Technical Outlook
The CAC 40 futures chart continues an upward long‑term trend, oscillating within a broad range first identified in April 2025. Three consecutive closes above €8,247 have turned that level into a firm support, suggesting short‑term momentum is still constructive. A decisive break above the intermediate resistance at 8,311 would reinforce a bullish continuation, with the next targets situated around 8,338.5 and 8,399.5 points. The theoretical ceiling of the rising channel sits near €8,600, pending further catalyst‑driven buying.
Conversely, a drop beneath the 8,247 support could see the index retest the 8,030–8,162 zone, and a deeper decline toward the lower channel edge at €8,014.5 would not be surprising. Should that level give way, the next major support zones lie at €7,731 and €7,603, reflecting historic congestion points.
From an indicator perspective, the index trades above its 20‑, 50‑ and 200‑day moving averages. The MACD histogram is narrowing but remains above the signal line, while the RSI hovers near overbought territory. Trading volume has tapered compared with the previous session.
Strategic Positioning
In light of the fresh highs, we opted to lock in gains by trimming or closing speculative equity and derivative exposures. Tactical short positions and index‑hedge structures have been introduced across client portfolios. With the obvious upward patterns becoming more subtle, the focus now shifts to reinforcing the “Dynamic” and “Investor” funds through disciplined stock‑picking guided by clear technical signals.
