Laboratory testing services group Eurofins Scientific is set to join France’s top stock market index, buoyed by demand for COVID-19 testing.
Eurofins ERF, +0.95% will replace IT tech group Atos ATO, +5.83% 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.