Despite the overall decline, these five stocks are moving against the tide.

The surge in oil prices is boosting TotalEnergies, which hit €73, an unprecedented high, before settling back to €70.30 (+4.4%). The mechanism is simple: the higher the price per barrel, the greater the margins. Potential supply restrictions also support refining. Since January 1, the stock has risen by 26.6%. With a large free float, the group now accounts for 7.2% of the CAC 40, slightly more than LVMH (7.1%).

Another indirect beneficiary: GTT. The specialist in containment systems for LNG maritime transport almost reached €195, a level never seen before. The stock is not soaring this morning, but it stands out as a defensive play against oil price volatility.

Military tensions are also boosting defense stocks. Large caps are rising without reaching their recent highs. However, smaller players continue their ascent. Exail, a robotics specialist, jumped 10% to €136.80. Its market capitalization now exceeds €2bn, a symbol of the progress made since the refocusing led by the Gorgé family. The same trend for Exosens, which hit €68.80 (+10%) and over €3.1bn in market capitalization. The group, a supplier of advanced vision systems for armed forces, is benefiting both from sector enthusiasm and a new contract with American forces.

The last record of the session is less obvious. It is the laboratory Ipsen, which surpassed the €166 per share mark on the stock market. The stock has finally ended its long dry spell. It took seven and a half years to return to its previous record, which dated back to 2018 at €156. That threshold was crossed in February. Ipsen has achieved some notable research successes in recent quarters, explaining its revaluation.