U.K. stocks are finally turning a corner after years of underperformance, according to one chief investment officer, who stressed that valuations are looking "very cheap."
The U.K. FTSE 100 is up around 11% over the last three months, while the broader FTSE 250 index is more than 9% higher.
In comparison, the U.S.' S&P 500 is trading around 6% higher over the same period.
He gave the example of oil giant Shell trading at a significantly lower price-to-earnings multiple than its U.S. rivals.
A low P/E multiple — the ratio of a company's share price to its earnings per share — can indicate that a stock is undervalued.
Persons:
Dan Boardman, CNBC's
Organizations:
BRI Wealth Management
Locations:
U.S, Weston