The FTSE 100 ("Footsie") groups the 100 largest caps of the London Stock Exchange. AstraZeneca, Shell, HSBC, Unilever, BP dominate. Value-heavy and internationally-exposed index (~70 % of revenue outside UK), correlated to oil and commodities.
The FTSE 100 has a unique characteristic among major indices: its companies are listed in London, but they generate revenue worldwide. About 70-75 % of total revenue of FTSE 100 companies comes from abroad. That's why the FTSE is often nicknamed "the global index listed in London".
FTSE 100 top 10 in April 2026 (approximate weights):
Heavily-represented sectors: energy/oil (~12 %), financial (~16 %), consumer staples (~14 %), pharma (~13 %), mining (~5 %). Typically a "value" and "old economy" index — little tech (vs Nasdaq 100), lots of dividends (average yield ~3.5-4 %/year).
Between 2016 (Brexit vote) and 2024, the FTSE 100 strongly underperformed other major indices. The S&P 500 gained ~150 % over this period, DAX ~70 %, CAC 40 ~80 %, but FTSE only ~30 %. Several reasons:
Since late 2023, the narrative changed. The FTSE 100 rebounded significantly, hitting 9,000 points for the first time in March 2025. Rebound drivers:
20-year performance dividends included: ~6.5 %/year. Less than S&P 500 (~11 %) but more stable, with volatility of only ~14 %/year (vs 18 % for DAX).
Bad news: since Brexit, the FTSE 100 is no longer PEA-eligible (the PEA requires shares from the European Economic Area, and the UK exited in 2020). To invest in FTSE from France, you must go through a regular brokerage account (CTO) or life insurance with UC units.
Main options:
French taxation: on regular brokerage, dividends + gains at 30 % flat tax. On life insurance, FTSE UC units qualify and benefit from classic AV advantages (€4,600/year exemption after 8 years).
When to buy? The FTSE 100 tends to shine in 2 environments: (1) global risk-off because its defensive companies and dividends attract funds; (2) strong dollar because the pound automatically depreciates, boosting export revenue. Conversely, in tech-dominated risk-on environments, the FTSE almost always underperforms.
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