CAC-40 plummets as vaccine efficacy, economic data ruins emotions

CAC-40 plunged into loss on Tuesday’s global trade market Responded to vaccine makers’ concerns about the effectiveness of vaccines against Omicron variants. The CEO of Moderna has expressed concern about the effectiveness of the vaccine against the newly identified variants. Accelerating inflation in the euro area and unexpected declines in domestic consumption in the homeland exacerbated negative sentiment and put CAC in complete despair.

CAC-40 is currently trading at 6963.23, down 1.23 percent from Monday’s closing price. Trading for the day was between 6655.86 and 6715.87.

Eurofins Scientific and Schneider Electric are making over 1% profit.

Alstom has lost more than 3 percent. Safran, Danone, Unibail Rodamco Westfield, Stellantis, Renault, Essilor Luxottica and Carrefour have reduced by more than 2%.

The luxury group LVMH is the most active script with sales of 144 million. Scrip decreased by nearly 1.7%.

Only five scripts, Eurofins Scientific, Schneider Electric, Teleperformance, Legrand and Dassault Systèes, are traded in the positive territory.

According to preliminary data released during the day, the rate of increase in consumer prices in the euro area accelerated from 4.1% in October to 4.9% in November. The market was expecting a 4.5% read.

On the other hand, household consumption decreased by 0.4% in October, while it increased by 0.2% in September.

The EURUSD pair remained around 1.1351, 0.54 percent higher than Monday’s closing price, as the dollar index plunged from 96.22 to 95.76 on Monday. Demand for safe shelters against the yen has lowered the dollar index.

France’s 10-year bond yield fell by about 70 percent from 0.041 percent on Monday to 0.013 percent in a risk aversion mood caused by the fear of the Omicron virus.

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CAC-40 plummets as vaccine efficacy, economic data ruins emotions

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