As part of today’s special feature “Where Next for UK Equities?” investment and market experts are sharing their views on valuations, opportunities and what could drive the next phase for UK stocks. Russ Mould, Investment Director at AJ Bell, is known for his clear insights and deep market knowledge. In this overview, he shares his take on the current UK market, highlighting both the factors supporting valuations and the key risks ahead.
Russ says: “The case for UK equities is less compelling than it was, purely because the indices are higher than they were, so valuations offer less upside and less downside protection. However, unlike the USA, the UK does not look wildly expensive relative to its own history.
“That is one argument in favour of using the UK as a diversifier as part of the equity portion of a broader portfolio.
“Another is how it has relatively little technology exposure. That has done it no good…
