Shares of CGG (EPA:CGG) last traded at 1.439, representing a move of -5.27%, or -0.08 per share, on volume of 4.37M shares. After opening the trading day at 1.5, shares of CGG traded in a close range. CGG currently has a total float of 710.22M shares and on average sees 6.71M shares exchange hands each day. The stock now has a 52-week low of 1 and high of 2.604.
French Stock Market: A European Prowess
France is not just all about the unparalleled gastronomic experience nor the beautiful destinations. It is also acknowledged for being one of Europe’s pride on the economic front. It is also a special market place for CGG. With a thriving corporate sector, France surely has an interesting economy as well.
France’s Equity Market
Euronext Paris, which was formerly known as Paris Bourse, is the main stock exchange in France. It is part of Euronext, a pan-European stock exchange across five European cities including Paris, London, Lisbon, Brussels, and Amsterdam.
Euronext was established on September 22, 2000, creating the first pan-European stock exchange from the merger of the Amsterdam Stock Exchange, the Brussels Stock Exchange, and the Paris Bourse in an effort to leverage the European Union (EU) economy. In 2002, the Bolsa de Valores de Lisboa was integrated into the union, further strengthening one of Europe’s biggest stock exchanges.
Developing very quickly it helped many companies like CGG to find their investors. As of the first quarter of 2014, Euronext has a total market capitalization of €1.60 trillion with over 1,000 companies listed on it.
The leading indices on Euronext include PSI 20, Next 150, Euronext 100, CAC 40, BEL 20, AScX, AMX, and AEX.
CAC 40 is the index measuring the 40 most valuable companies listed on Euronext Paris. Unlike the leading index in the US, the Dow Jones Industrial Average— a price-weighted index, CAC 40 is a free-float modified capitalization-weighted index since December 1, 2003. Prior to this, its components are measured based on total market capitalization.
CAC 40 derives its name from an old automation system of Euronext Paris. Its base value of 1,000 has been set on December 31, 1987.
CAC 40 had recorded its all-time high 16 years ago, closing at 6,922.33 on September 4, 2000. It had an intraday high of 6,944.77 during the said session. On the other hand, its all-time low of 893.22 was last seen in January 1988. At present, CAC 40 is trading at around 4,000. And CGG is the part of this trading.
The components of CAC 40 are reviewed and determined every quarter by the Index Steering Committee. The reviews happen every third Friday of March, June, September, and December. Companies listed on Euronext Paris are ranked based on free-float market valuation and share turnover in the 12 months prior. Their weights are limited to 15% during review to prevent the occurrence of index heavyweight. From the top 100 companies, 40 companies will be picked to compose CAC 40.
Trading in France
France has one of the longest regular trading sessions in the world. Trading on Euronext Paris begins at 6:01 a.m. and ends at 7:59 p.m. The movement is in 0.50 increments. Among most brokers, the margin requirement is 2%. Meanwhile, the minimum trade size requirement is an index. Euro is the main currency on Euronext Paris.
France is one of the richest economies in Europe, which is why betting on its growth prospects is an ideal move for investors. CAC 40 lives up to global stock exchange standards that can truly reward meaningful investments. Some of investments go to the CGG directly.
More news for CGG (EPA:CGG) were recently published by: Theguardian.com, which released: “Islamic State affiliate threatens to kill Croatian man kidnapped in Egypt – The Guardian” on August 05, 2015. Bna.com‘s article titled: “Atlantic Seismic Surveys May Get Permits But Await Action – Bloomberg BNA” and published on May 19, 2017 is yet another important article.
CGG, a geoscience company, provides data imaging, seismic data characterization, geoscience, and petroleum engineering consulting services to the gas and oil exploration and production industry in North America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific. The company has market cap of 1.02 billion EUR. It operates in Equipment; Contractual Data Acquisition; and Geology, Geophysics & Reservoir divisions. It has a 1.08 P/E ratio. The Equipment segment develops and produces seismic equipment in the land and marine seismic markets, and offers customer support services.