The FTSE 100 is closing in on a record high, but company valuations still look cheap. Those put off investing at the top of the market may find that the overall level of the stock market belies the number of individual stockpicking opportunities.
The UK’s blue-chip index of big businesses came within 40 points of its highest ever level of 7,903 last week as investors started 2023 with a positive mindset amid falling inflation figures. By Friday it had fallen below 7,770.
The FTSE 100 is up 2.4 per cent over the past 12 months, despite a looming recession, which could be deep and long if you believe the Bank of England (or shallow and short if the Office for Budget Responsibility is right). It