CAC 40 Index price rose 22.23 points almost 0.55% at 6,602.76 on Thursday, and DAX in Germany traded 0.059% upside
In Europe, inflation is raising too fast and the situation is getting worse, with U.K. consumer prices rising 0.5% in August.
The CAC40 in France traded up by 0.1%, U.K FTSE100 traded up by 0.4%, and the DAX Germany Traded up by 0.059% by 03:55ET
European stocks traded higher on Friday, European countries facing potential energy shortages because 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.
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 the Eurozone and are fast approaching double digits that can add to inflation. This is putting pressure on the European central bank
OPEC+ is a group between the Organization of the Petroleum Exporting Countries and its Allies. meets later Monday for the tight supplies of oil, however, Saudi Arabia recently announced cutting production levels to support prices.
LONG-TERM TECHNICAL ANALYSIS
This daily chart indicates that CAC 40 Index was trading in a down channel, RSI suggests the market is in a buying zone, and MACD is below zero, indicating bearishness.