(BFM Stock Exchange) – While the third quarter has just ended, BFM Stock Exchange makes its traditional point on the strongest increases and drops within the second largest index of the Paris Stock Exchange. The newcomers have the top of the list, when Worldline, Soitec and Edenred display the most marked folds.

The third quarter ended last Tuesday. The opportunity to note that the Paris Stock Exchange is completely lagging behind its sisters in 2025, hardly helped by the return of political uncertainty in France. The CAC 40 wins, certainly, 9.5% since the start of the year while the SBF 120, the second largest index in the place, takes 9.45%.

However, these increases remain much lower than those of the S&P 500 (+14.75%at the European end of Friday) and especially the IBEX 35 (+34.4%), the main index of the Madrid Stock Exchange, the FTSE MIB (+26.5%), that of Milan, Dax 40 (+22.45%) of Frankfurt, or the FTSE 100 (+16.1%)

Despite this relative underperformance of the Paris Stock Exchange, some values ​​sign an excellent vintage when others, on the contrary, suffer.

News Bulletin 247 takes stock of the strongest increases and drops to the SBF 120 on the whole of 2025. This list is compiled in the infographic below.

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Newcomers at the top of the list

On the side of the increases, the first two places are trussed by two newcomers. Two groups whose strong progressions opened the doors of the SBF 120 to them, which they joined on September 22, namely Abivax and EXAIL Technologies.

Abivax (+968%) is one of the rare (even the only) French biotech to have broken on the stock market in recent years. The listed company in Paris and New York and specializing in therapies against chronic inflammatory diseases experienced a month in July from all records, with above all a leap of 510.1% only on the session of July 23.

The company then published very positive results of phase III clinical trials (the last step before the potential marketing of a product) evaluating its Obefazimod molecule, potential treatment against hemorrhagic rectocolitis, chronic inflammatory disease of the intestinal mucosa. This disease affects a million people in the United States and as much in Europe.

The robust efficiency data communicated by Abivax have credited the hope of a future placing on the market and the ultra-prometrical perspectives of this molecule.

“We are talking about a ‘blockbuster’ with potential income of more than 1 billion euros, with very varied indications, in inflammatory diseases, in particular,” said News Bulletin 247 Mohamed Kaabouni, in Portzamparc in 2022.

Abivax believes that treatments for chronic intestine inflammatory diseases could represent a global potential market of $ 30 billion by 2030.

Portzamparc judged in early September that the scenario of a takeover of Abivax by a large pharmaceutical company was “likely”. The stock market course, the increase of which allows Abivax to display a capitalization of 5.6 billion euros, more than FDJ, probably partially integrated this scenario.

Behind Abivax, EXAIL Technologies displays the second highest increase in SBF 120, with an increase of 467%. Formerly named Groupe Gorgé, this company specializes in navigation and maritime robotics systems. This has allowed him to glean, in the latter quarters, many contracts on the part of national navies for the supply of underwater drones capable of detecting deep waters. Currently, Defense represents 56% of EXAIL’s income.

Like other groups with military activities, geopolitical tensions and, above all, the multiple rearmament announcements on the part of many countries, notably European, have carried its action (and its activity). In June, NATO member countries undertook to invest 5% per year of their GDP in defense spending by 2035, against a previous target of 2%.

To give a single figure, EXEIL Technologies orders reached 612 million euros in the first half, translating an increase of 279% over a year.

Retirement homes and Société Générale

In addition to EXAIL Technologies, two other defense groups appear in the “TOP 10” of the SBF 120, namely the specialist in imagery and military optronics Exosens (+124.7%, seventh) and the CAC 40 Thales group (+90%, tenth).

As in the previous points we made, the retirement home operators Emeis (ex-Orpea) and Clariane (Korian), are well positioned, appearing in the third (+142.5%) and seventh rows (+122.2%) respectively.

Recall that these progressions must be nuanced. The two actions still lose large in the medium term, with a fall of 40% for Clariane over three years and a 99.9% dive for Emeis. The two titles fell into the stock market abyss by leading very dilutive financial recapitalizations for their shareholders, especially Emeis.

The recent efforts of these two groups to assert their assessment and deleted were appreciated by the market. In September, Emeis announced that he would exceed his target of asset sales via the creation of a property dedicated to health real estate in Europe, which will result in a cash contribution to the group of more than 760 million euros. Clariane, for its part, completed its asset sale program in June via the sale of its “grandson” home service network in Crédit Agricole Assurances, a subsidiary of Crédit Agricole (also a shareholder in Clariane) for 345 million euros, price deemed generous by analysts.

Let us note, in passing, the performance of Société Générale, the first company of CAC 40 to appear in the list, with an increase of 108.8%. This allows the Defense Bank to sign the ninth highest increase in SBF 120. The establishment has chained good publications, especially the last, that of the second quarter. The title had further climbed 6.9% in the wake of the communication of these accounts, which had been carried by the recovery of the retail banking in France and the good performance of market activities. UBS, in August, noted his advice on purchase on the title.

The descents in the underworld of Worldline and Soitec

On the side of the strongest drops, the “prize list” has not changed too much since our last point, in early July.

Worldline remains the red lantern of the SBF 120, with a drop of 63.4% since the start of the year, which carries 92% the withdrawal of its action over three years. And to say that the payments specialist was still in the CAC 40, two years ago.

The group saw its title drop by 38% on a single session on June 25. The company had then been pinned by a series of articles written by several European media reporting that the company had knowingly closed their eyes to customer practices at risk, that is to say, for example, to the gaming or pornography industry.

Essentially, these facts are prior to 2023, when the group has decided to reduce its exposure to this type of customers very strongly, which now represents only 1.5% of its volumes. But this controversy weighs visibility and, as AlphaValue had identified, places the company in the face of a risk of reputation.

In order not to fix anything, the S&P agency lowered its credit note at the end of August on WORLDLINE, pushing the group to publish a press release to ensure that it had no need for refinancing in 2025 and in 2026. Jefferies estimated, in a recent note, that the debt market was tightened for Worldline after this degradation.

The group of semiconductors SOITEC accuses the second largest drop in SBF 120 with a fall of 48%. Since the start of the year, the Iséroise company has investigated the disappointments. The group had, for example, abandoned in May all the medium -term objectives that he had previously set, weighed down by a demand at half mast on the automotive side, an industry very consumer of fleas, as well as by the weakness of the smartphones market. During the publication of its turnover in the first quarter, on July 23, the group still delivered disappointing forecasts, and its action dropped by almost 8%. Soitec announced on Wednesday the departure of its managing director, Pierre Barnabé.

Auto manufacturers go badly

With a decrease of 32.4% since the start of the year, Edenred completes the “podium” of the strongest folds of the SBF 120. The specialist in advantages to employees (such as restaurant titles) suffered from unfavorable development fears of regulation in Brazil (the first market for the advantages of employees) as well as in France. The action had for example dropped on September 12 after the echoes reported that the 2026 draft budget of the former Bayrou government planned to create a social levy of 8% on several advantages to employees

“The bad news concerning government issues related to meal titles in all countries (especially in France, in Turkey at the start of the week, in Brazil and Italy) continue to weigh on the general feeling in the sector, which has known no respite since September 2023,” noted UBS.

Note that the car manufacturers of the CAC 40 are both in the “Flop 10”.

Stellantis was still suffering in 2025, with a fall of 28.8% of its action, the sixth higher sixth in SBF 120. Plusted by high stocks in the United States that the group reduced in pain on the end of last year, Stellantis lost market share in the last quarters and has launched new products qualified as “difficult” by Oddo BHF. In the first half, the company accused a net loss of 2.3 billion euros while its current operating profit melted by 94%.

The new managing director, Antonio Filosa, who took office in June, finds himself faced with a difficult site to straighten the manufacturer. The boss of the group spoke for the first time before the financial community in July.

If Bernstein finds that the manager made “a good impression”, the design office points out that he did not explain in detail how he counted “to prevent Stellantis from falling back into his bad volume research habits that Carlos Tavares had promised to eliminate, but which were finally amplified”.

However, the company recorded a first positive signal on its sales in the United States this week, with a good month of September.

Renault accuses, for its part, a fall in its action of 24% since the beginning of the year, the ninth highest of the SBF 120. The diamond group mainly plunged 18.5% on a session on July 16, following a heavy and unexpected warning on results. This, just after the departure of its managing director, Luca de Meo, who left to direct Kering.

“The double upheaval of management and objectives has revealed questions of scale, size and global imprint which have never disappeared, but which have been relegated to the background by the operational recovery of recent years,” wrote Jefferies in early September.