FTSE 100 Live: What’s Moving UK Stocks, Pound (GBP/USD), HSBC, Heathrow, BAE

We’ve had plenty of strategists saying that UK stocks look attractive because of how cheap they are currently, but HSBC isn’t adding its name to that list.

The bank said that despite the economic backdrop improving, they still have a neutral view on UK stocks owing to “anaemic fundamentals.”

Sentiment could improve later in the year, but it is too early to take a more bullish view on the UK and there are “risks of unpleasant surprises emerging” during earnings season, the HSBC team said.

They add that the earnings growth outlook for the FTSE 350 remains weaker than its European counterpart. And, while UK stocks are deeply-discounted, that has narrowed in the past two years.

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