100% French Stocks – December 16, 2025

100% French Stocks – Tuesday, December 16, 2025

CAC 40 PREOPEN: 8,101 points (-0.41%)

Key stocks of the day

Sanofi (SAN): Strategic deal up to $1.04bn with South Korea's ADEL for an experimental Alzheimer’s treatment.

TotalEnergies (TTE): Sells 10% of a gas project in Malaysia.

Veolia (VIE): Launches a 5th mobile PFAS treatment unit in Alsace.

Ipsen (IPN): Completes acquisition of ImCheck for €350m, plus up to €1bn more.

Spie (SPIE): Purchases Australian company Worley Power Services.

Eurazeo (RF): Sells Fermax to Ardian via MCH.

Ubisoft (UBI): Buys the rights to the game March of Giants from Amazon.

Abivax (ABVX): Funded until the end of 2027.

Casino (CO): Repays €30m in secured debt via Quatrim.

AdVini (ALADV): Merges with Cordier by InVivo, which takes a stake.

Hydrogène de France (HDF): Partners with ABB for maritime hydrogen fuel cells.

Virbac (VIRP): Acquires an innovative veterinary treatment for feline hyperthyroidism.

SpineGuard (ALSGD): Raises €1.2m through a capital increase.

Nicox (COX): Completes data for marketing approval applications in the USA and China.

Company results expected today

Analyst recommendations (French companies only)

**Recommendation changes**

Upgrades

Aperam (APAM) → Morgan Stanley upgrades to Overweight, target raised from €31.50 to €40.

Neutral
Sanofi (SAN) → HSBC remains at Buy, target adjusted from €100 to €98.

STMicroelectronics (STM) → Mizuho Securities remains Neutral, target raised from $22 to $26.

Pluxee (PLX) → Barclays maintains Market weight, target lowered from €20 to €16.50.

Downgrades

Dassault Systèmes (DSY) → Goldman Sachs keeps Buy, but lowers the target from €32 to €29.

Have a great session everyone!
Sylvain Mouilhaud: Equity Coach