CAC 40 Index rose 0.03% to 5,762.94 on Monday
Russia halts the supply of gas in the European countries, European stock market was down on Tuesday because investors were afraid of the economic risk facing the region.
The CAC40 in France traded up by 0.3%, U.K FTSE100 traded down by 0.6%, and the DAX Germany Traded down by 1% by 03:55ET
On Friday Russia announced that one of its major gas supply pipelines to Europe would remain shut
After this announcement, G7 finance ministers agreed to impose a price cap on Russia’s oil exports, the main reason behind this is to limit the funds of president Vladimir Putin.
The soaring energy prices rise so fast in Eurozone and fast approaching double digits the prices can add to inflation. This is putting pressure on the European central bank
LONG-TERM TECHNICAL ANALYSIS
This daily chart indicates, that CAC 40 Index is trading in a down channel. RSI is in the selling zone which indicates bearishness, and MACD is below zero which indicates bearishness.
