London shares are extremely "cheap" and offer investors a prime buying window, two major investment banks have declared.
UK PLC has “significantly lagged other markets and we note is currently trading exceptionally cheap”, according to JP Morgan, while Morgan Stanley (NYSE:MS) highlighted the “compelling case” for buying FTSE shares.
Amid the turmoil in world stock markets, London's blue-chip index has been relatively robust and is one of the few on course for a positive first month of the year
Morgan Stanley’s equity strategists said the Footsie benefited from rising real bond yields, with the index "one of cheapest global indices by some distance".
They noted that UK equities are "more defensive" than peers, while also offering twice the dividend yield of global stocks.