Josef Licsauer
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Updated 05 Jun 2024
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This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. This material should be considered as general market commentary.

The FTSE 100 is often perceived as inexpensive, home to out-of-favour, downtrodden sectors that have struggled over the last decade. It has trailed other major indices like the S&P 500 and the Nikkei 225 during this period, largely due to the underwhelming performance of heavyweight sectors like banking and energy, which have failed to keep pace with the rapid growth of technology stocks. We believe this perception of the UK market may be outdated. The UK is home to a well-diversified list of businesses that have stood the test of time and in cases, have a strong global presence. The FTSE 100 has defied sceptics of late reaching an all-time market high in May this year, but given the nature and speed of its ascent, we might ask how sustainable this is. Here we delve into the factors behind the recent surge of the FTSE 100 and argue it is an undervalued market that’s ready to let the bull run.

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