Of the stocks in France’s benchmark index, 62% are economically sensitive, or cyclical, while the rest are typically classed as defensive. That gives the CAC-40 a similar profile to Britain’s FTSE 100.

The largest sector is the consumer goods industry, comprising almost a fifth of the index. It is made up largely of personal or household goods and food and drink firms. After healthcare, the other defensive sectors are utilities and telecoms, respectively accounting for 5.3% and 3.2% of the index. Heavyweight industrials, oil and gas sectors, financials, consumer services and basic materials segments are all economically sensitive.

• See Tim Bennett’s video tutorial: What is an index?


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