Top CAC 40 index winners of 2024

European stocks are doing great, helped by the strong inflows from global investors. The German DAX, French CAC 40, and Euro Stoxx 50 have all jumped by over 16% in the past 12 months. This performance continued this year, with these indices soaring to their all-time highs. So, here are the top-performing CAC 40 stocks in 2024.

CAC 40 vs DAX vs Stoxx 50 vs Stoxx 600

Safran

Industrial companies are having a banner year around the world. In the US, companies like Cummins, Illinois Tool Works, and Emerson Electric have all jumped to their record highs.

In France, Safran, a leading industrial giant, is the best-performing company in the CAC 40 index in 2024. It has jumped by 31% this year and by over 51% in the past 12 months. 

The company is benefiting from the rising demand for defence and civil aviation around the world. This is notable since Safran is one of the biggest providers of aircraft engines and other services. 

As a result, the company’s business has been booming. Its revenue rose by 21.9% to €23.2 billion in 2023 while free cash flow came in at €2.9 billion, a 10% increase. Its backlog has also jumped sharply in the past few months.

Renault

Renault is the second-best-performing company in the CAC 40 index as it jumped by 26% in 2024. The company has done well as demand for vehicles jumped.

It demonstrated this in its annual report, which showed that revenue rose by 13% to €52.4 billion. Its operating margin jumped to a record high of €4.1 billion while net income rose to €2.3 billion.

Renault is benefiting from its strong brands. Its Alpine brand’s sales jumped by 22.1% in 2023 while the company is the best-selling French brand globally. It is also the third-biggest EV brand in Europe.

Renault’s strong performance is in line with that of other traditional ICE vehicles like Ford and General Motors. It is also a sharp contrast of EV companies like Tesla and Rivian that have tumbled.

Accor

The hotel and hospitality industry has recovered strongly in the past few years, pushing hotel stocks to their multi-year highs. Accor, the parent company of Fairmont, Adagio, and Ibis, is the third-best-performer in the CAC 40 index. It has jumped by 25% this year and by 44% in the past 12 months.

Accor’s business is thriving as its revenue jumped to a record high of €5 billion in 2023 and its EBITDA soared by 49% to €1 billion. It expects to continue with this trend as the number of international events rise. For example, it will likely benefit from this year’s Olympics in France.There have been other great-performing companies in the CAC 40 index.

Like Renault, Stellantis has soared by over 24%. Hermes continued its outperformance, rising by 23% this year. Airbus share price continued to outperform Boeing as woes mounted. Other top-performing companies in the index were Publicis. AXA, Thales, and Schneider Electric.

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