French stock index CAC 40 rate on live chart online, index structure, forecast. Features and characteristics, calculation formula and examples of ETF funds. CAC 40 (CAC 40) is the main stock index of France, its structure consists of 40 largest French companies by capitalization. The CAC 40 index is also included in the four largest stock indices of Western Europe, characterizing the state of the economy of this region. The designations FCE, France 40, CAC are used. The chart below shows the change in the CAC 40 index online. The live chart is also suitable for analyzing and predicting the behavior of the index, many standard and custom technical indicators make this task easier.
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Technical Analysis CAC 40 Index
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About CAC 40
Futures on the CAC 40 index are traded on the European stock exchange Euronext Paris, where they are assigned the code FCE. The contract size is 10 euros multiplied by the current value of the underlying index. Trading in CAC 40 futures takes place from 09:00 to 17:30 (GMT+02:00 in summer, GMT+01:00 in winter). The minimum possible price change is 0.5 points or €5 per contract.Mini-contracts on the CAC 40 are also traded on the exchange under the ticker MFC. Their size in euros is equal to the value of the underlying index in points. The minimum price change corresponds to half an index point or € 0.5. Trading in mini-futures on the CAC 40 takes place at the same time as standard contracts on Euronext Paris.
CAC 40 is a highly liquid instrument. Daily turnover exceeds 100,000 contracts.
The CAC 40 is a capitalization-weighted index that reflects the status of the largest companies listed on the pan-European Euronext. When included in the CAC 40 basket, not only capitalization is taken into account, but also the trading activity of the applicants' shares.
The index gets its name from the French Cotation Assistée en Continu.
In its early days, the modern Euronext Paris was called Paris Bourse (Paris Stock Exchange), and Cotation Assistée en Continu was the name of the automated order processing system.
The index was formally introduced into circulation on June 15, 1988, but the base value of CAC 40 was adopted on December 31, 1987. For ease of calculation, the starting rate of CAC 40 was adopted as 1000 points. The prerequisite for the creation of CAC 40 was the powerful crisis of the French stock market in 1987.
The index basket is represented by French companies, while the CAC 40 is considered international. Foreign players actively invest in shares of French companies, therefore 40-50% of the securities that make up the CAC 40 basket do not belong to French investors. This does not affect the rate, rather it is simply a feature of the index.
Daily volatility does not exceed 200 points most of the time. During periods of increased volatility, it increases 2-3 times, so, at the peak of the decline associated with the pandemic, quotes fell by 586 points per day.
The index is influenced by several factors:
- The general state of the global economy. For example, the pandemic caused a collapse of markets all over the planet and the KEK 40 chart was no exception;
- The state of the real sector of the French economy;
- Changes in the monetary policy of the EU, the USA;
- Force majeure factors directly related to France, such as terrorist attacks, natural disasters.
CAC 40 Index basket
It includes 40 of the largest French companies whose securities are traded on Euronext Paris. Every year, at least 2-3 participants leave its composition.The leading sectors in the index basket are industrial, healthcare, consumer goods, and oil and gas. Together, they account for about 40% of the entire basket.
As for individual companies, the leaders are Louis Vuitton Moët Hennessy (LVMH), Sanofi, Total S.A., L’Oréal, and Air Liquide. They account for slightly less than 40% of the index basket.
The composition is revised quarterly. This usually happens in March, June, September and December on the Monday following the third Friday of the month. Also, once a year in September, the basket composition is revised taking into account the share of shares in free float.
During the revision, the basket is divided into 2 parts - the base, consisting of the first 35 companies and the so-called buffer zone (from 36th to 40th place).
When revising the composition of the CAC 40, shares in the buffer zone have priority over other candidates for inclusion in the index.
Trading turnover is also taken into account when rebalancing the basket:
- During the annual review, the turnover must be at least 20% of the shares in free float on Euronext Paris;
- During the quarterly rebalancing for candidates for inclusion in the CAC 40 Index, this figure must not fall below 30%. For members of the CAC 40, the threshold is reduced to 10%.
Stocks of Companies Included in CAC40 Index
ACCORAIR LIQUIDE
AIRBUS
ARCELORMITTAL SA
ATOS
AXA
BNP PARIBAS ACT.A
BOUYGUES
CAPGEMINI
CARREFOUR
CREDIT AGRICOLE
DANONE
DASSAULT SYSTEMES
ENGIE
ESSILORLUXOTTICA
HERMES INTL
KERING
L”OREAL
LEGRAND
LVMH
MICHELIN
ORANGE
PERNOD RICARD
PEUGEOT
PUBLICIS GROUPE SA
RENAULT
SAFRAN
SAINT GOBAIN
SANOFI
SCHNEIDER ELECTRIC
SOCIETE GENERALE
SODEXO
STMICROELECTRONICS
TECHNIPFMC
THALES
TOTAL
UNIBAIL-RODAMCO-WE
VEOLIA ENVIRON
VINCI
VIVENDI
CAC 40 Index Family
Euronext calculates a whole family of stock indices. In addition to CAC 40, the following are distinguished:- CAC 40 GR – gross dividends before reinvestment are added here;
- CAC 40 NR – characterizes only reinvested net dividends. These indices are important because they allow one to separately evaluate gross revenue and net profit;
- CAC Next 20 – consists of the 20 largest companies by capitalization that are not included in CAC 40;
- CAC Large 60 – the basket consists of securities included in CAC 40 and CAC Next 20;
- CAC Mid 60 – this includes the largest shares that are not included in CAC Large 60. This index characterizes companies with mid-capitalization;
- SBF 120 – combines the CAC Large 60 and CAC Mid 60 indices;
- CAC Small – all companies that meet the trading turnover criteria but are not included in SBF 120;
- CAC Mid & Small – a combination of CAC Small and CAC Mid 60;
- CAC All-Tradable – includes shares of companies included in the Index Universe and that meet the trading turnover requirements.
ETF
The bulk of existing ETFs were created by the French provider Lyxor. Among them are regular ETFs, for example, Lyxor UCITS CAC 40 (DR) D-EUR, there are leveraged options that scale the index movements - Lyxor UCITS Daily Leverage CAC 40, there are so-called short ETFs, they grow when the index falls - Lyxor UCITS CAC 40 Daily Double Short.CAC 40 is a good choice for medium-term investment and active trading. Analysis of the live chart shows that the index is characterized by strong falls, but with a planning horizon of several years, you can earn money on it. CAC 40 is also suitable for intraday speculative operations, volatility is sufficient.