December 13, 2007 at 1:00 am by Tom Lydon
French president Nicholas Sarkozy’s pro-business policies are now in effect, so are they faring well for the French-focused exchange traded fund (ETF)? iShares MSCI France Index (EWQ) is up 15.9% year-to-date and holds quite a diverse set of stocks. Financials make up 18.7% of the ETF, followed by consumer discretionary at 14.5%, energy at 12.3% and industrials at 11.3%. Top holdings include energy company, Total SA (TOT) at 11.8% and drug maker Sanofi-Aventis (SNY) at 6.6%.
Dave Mock for The Motley Fool reports on France Telecom (FTE), which makes up 4.7% of EWQ, and its popularity with investors. It is the largest provider of telecommunication services in the nation and has significant operations in European and emerging markets. Their wireless division has the rights to sell Apple’s iPhone and hopes to sell 100,000 by the end of the year.
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