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Sept. 10, 2021, 7:40 a.m. EDT

COVID-19 testing demand sends Eurofins into top French stock market index

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By Steve Goldstein

Laboratory testing services group Eurofins Scientific is set to join France’s top stock market index, buoyed by demand for COVID-19 testing.

Eurofins /zigman2/quotes/207232790/delayed FR:ERF -7.13% will replace IT tech group Atos /zigman2/quotes/202384354/delayed FR:ATO +1.63% in the CAC 40 on Sept. 17, Euronext announced. The testing company was ranked 29th by market cap as of Thursday, and its shares have surged 82% this year.

Eurofins first-half profit more than tripled to €582 million, on a 41% rise in revenue. The demand for COVID-19 testing is so strong the company also reports revenue outside the COVID-19 testing, where it delivered 17% organic growth in the first half.

Eurofins said it’s now completed over 25 million COVID-19 PCR tests since the start of the pandemic.

Atos, meanwhile, has slumped 44% this year, and recently cut its revenue and margin targets.

More broadly, European stocks rose on Friday in a quiet day of trading.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.08% rose 0.3% to 468.88, as gainers included ASML Holding /zigman2/quotes/206208657/delayed NL:ASML +1.40% , Siemens /zigman2/quotes/205905025/delayed XE:SIE -2.48% and Adidas /zigman2/quotes/206448829/delayed XE:ADS +2.42% .

Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.32% gained 0.4%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.29% increased 0.4% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.45% increased 0.4%.

/zigman2/quotes/207232790/delayed
FR : France: Euronext Paris
104.00
-7.98 -7.13%
Volume: 801,272
Oct. 21, 2021 5:35p
P/E Ratio
24.05
Dividend Yield
0.65%
Market Cap
€21.36 billion
Rev. per Employee
€105,575
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/zigman2/quotes/202384354/delayed
FR : France: Euronext Paris
44.29
+0.71 +1.63%
Volume: 801,698
Oct. 21, 2021 5:39p
P/E Ratio
52.46
Dividend Yield
2.03%
Market Cap
€4.79 billion
Rev. per Employee
€107,067
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/zigman2/quotes/210599654/delayed
XX : STOXX
469.71
-0.36 -0.08%
Volume: 0.00
Oct. 21, 2021 5:50p
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/zigman2/quotes/206208657/delayed
NL : Netherlands: Euronext Amsterdam
666.30
+9.20 +1.40%
Volume: 715,812
Oct. 21, 2021 5:39p
P/E Ratio
58.03
Dividend Yield
0.41%
Market Cap
€269.64 billion
Rev. per Employee
€497,934
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/zigman2/quotes/205905025/delayed
XE : Germany: Xetra
138.58
-3.52 -2.48%
Volume: 1.32M
Oct. 21, 2021 6:30p
P/E Ratio
19.16
Dividend Yield
2.53%
Market Cap
€113.55 billion
Rev. per Employee
€195,014
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/zigman2/quotes/206448829/delayed
XE : Germany: Xetra
275.55
+6.50 +2.42%
Volume: 600,146
Oct. 21, 2021 6:30p
P/E Ratio
32.57
Dividend Yield
1.09%
Market Cap
€52.48 billion
Rev. per Employee
€318,600
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,472.56
-50.36 -0.32%
Volume: 54,649
Oct. 21, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,686.17
-19.44 -0.29%
Volume: 63,926
Oct. 21, 2021 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,190.30
-32.80 -0.45%
Volume: 554,176
Oct. 21, 2021 4:52p
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