The CAC 40 index has been under pressure in the past few days as worries about central banks remain. The index is trading at €6,981, which is about 5.9% below its highest level this year. It has risen by over 90% from its lowest level in March 2020. As a result, it has outperformed other European indices like the Stoxx 40 and DAX index.
Latest CAC 40 news
The key driver for the CAC index is the interest rate decision by the Federal Reserve. The bank, as was widely expected, decided to leave interest rates unchanged. But it also warned that it will implement several rate hikes this year.
The CAC index is also reacting to worries of the rising energy prices as the tensions between Western countries and Russia remain. Emmanuel Macron, the French president, will have a discussion with Putin on Friday.
The index is also reacting to the ongoing earning season. Recently, companies like Tesla, Microsoft, and IBM have published strong results.
Top gainers and laggards in the CAC index
Most companies in the CAC 40 index have been in the red this year. The worst performer is Dassault Systems, whose share price has crashed by about 19% this year. Dassault is a major industrial company that offers services like business jets and military aircraft. It is one of the biggest military contractors in France.
The second worst-performing stock in the CAC 40 index is Eurofins Scientific. It is a company that carries out medical testing around the world. It has 900 labs and 55,000 workers in 50 countries. The Eurofin stock price has crashed by 18% this year.
The other main laggards in the CAC index are Teleperformance, Hermes, Legrand, and Worldline. All these firms have crashed by over 10%.
On the other hand, only three stocks have risen by over 10% in the index this year. Renault is the best performer in the index after rising by 15.8%. It is followed by TotalEnergies and Thales which have risen by 14.4% and 10.75%, respectively. Other top performers in the CAC 40 index are Societe Generale, Orange, and Carrefour.