The CAC 40 Index has pulled back in the past few weeks, moving from a high of €7,960 on May 20 to the current €7,653. It remains about 13% above the lowest level this year. This article explores the top gainers and losers in the index this year.
Top CAC 40 Index movers of the year
Most CAC 40 Index companies have risen this year, helped by the dovish tone of the European Central Bank (ECB). The bank has slashed interest rates in all its meetings this year, bringing the total cuts of the cycle to eight.
Officials have hinted that the bank will deliver more cuts this year, which will make stocks more attractive by lowering bond yields.
French stocks have, however, faced several challenges, including Donald Trump’s tariffs and the Chinese market slowdown. French companies, especially those in the luxury goods market, have been severely affected by this slowdown.
Best performing CAC 40 stocks of 2025
Thales is the best-performing company in the CAC 40 Index this year, with its stock up by over 78%. This surge happened because it is a major player in the cybersecurity and defense industries.
Its performance mirrors that of other defense companies in Europe, such as BAE Systems and Rheinmetall, which are among the best performers in the FTSE 100 and DAX indices.
Thales, which makes sensors, missile electronics, biometrics, and ticketing systems, has jumped as investors cheer the rising defense spending in Europe.
Societe Generale’s stock price has jumped by 76% this year, mirroring the performance of other European banks like Lloyds, Barclays, Commerzbank, and Deutsche Bank.
Its performance is due to its strong revenue and profitability growth, and the management’s commitment to paying dividends and buying back its shares.
Safran stock price has jumped by 27% this year as demand for its civil and defense products rose. Its other top competitors, like Rolls-Royce and GE Aviation, have also jumped.
Safran manufactures products like aerospace propulsion, aircraft interiors, aircraft equipment, and defense solutions.
Other top gainers in the CAC 40 Index this year include companies such as Orange, Credit Agricole, Bouygues, Engie, and AXA.
Top laggards in the blue-chip French index
Meanwhile, the top laggards in the CAC 40 Index are those with an exposure to the Chinese market.
Louis Vuitton stock price has plunged by 30% this year, erasing billions of dollars in value. The most recent results showed that LVMH’s revenue dropped by 2% to 20.3 billion euros, with its leather and fashion goods being the top laggard.
Pernod Ricard stock price has crashed by 20% this year because of its exposure to the Chinese market. Kering, the parent company of Gucci, dropped by 24%, while Edenred fell by 15%.
Stellantis, the parent company of Jeep and Chrysler, has plunged by over 34% this year as its slowdown continued.
CAC 40 Index technical analysis
CAC 40 Index | Source: TradingView
The daily chart shows that the CAC 40 Index has been in a slow downtrend this year. It has dropped from a high of €7,960 on May 20 to the current €7,665.
The index has formed a bullish flag pattern, comprising of a tall vertical line and a descending channel. This pattern often leads to more gains, with the initial target being at €7,961, its highest point on May 20. A move above that level will point to more gains, potentially to €8,000.
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