Edenred, the inventor of the meal ticket, will enter the flagship index of the Paris Stock Exchange

There will be changes within the CAC 40, the flagship index of the Paris Stock Exchange.

The CAC 40 is the index of the Paris Stock Exchange, the showcase of the largest French companies listed on the stock markets. The planned change is an exit and an entry, announced two days ago, but operational at the end of next week, the evening of June 16.

franceinfo: How is this decided?

Isabelle Raymond: It is a scientific council independent of Euronext, the operator of the Stock Exchange, which during a council which meets once every three months, decides on entries and exits: several conditions must be met: be listed on the Paris Stock Exchange obviously, with at least 20% of shares available for sale. The estimated value of the company must be substantial, a little over 9 billion euros today, for the last places in the index.

Another criterion, more subjective, is to be complementary to other companies already present, because the CAC 40 is above all the flagship index, the showcase of the Paris Stock Exchange, it must display a diversified portfolio, attractive for the investor, and representative of the French economy.

So with a change in perspective?

Yes, knowing that there has been no change for almost two years, since September 2021, as if the Covid period, and the putting the economy on life support, had paralyzed the index, preventing any movement.

And besides, there is no doubt that the success of the company which is entering the CAC 40 today is linked to covid, to the upheavals taking place within companies, since it is Edenred, the restaurant voucher specialist, which has become a juggernaut of gift vouchers of all kinds, now offered digitally by companies to their employees.

The former subsidiary of the Accor hotel group shows constant growth, it is now valued at more than 15 billion euros. Not only does the company enter the CAC 40, but it also climbs directly to 32nd place, just ahead of Carrefour.

And who does the meal voucher specialist replace within the CAC 40?

This is Vivendi, a history of the CAC, former Générale des Eaux, within the index since its creation in 1987. But its activities have been split into several entities, music is now listed in Amsterdam. And the group controlled by Vincent Bolloré is today valued at less than 10 billion euros. Largely underestimated, according to some, but which is therefore leaving the flagship index of the Paris Stock Exchange today.