'Cheap' and 'under-owned': CIO makes the case for UK stocks despite U.S. bounce back

U.K. stocks are looking particularly attractive after a fresh bout of market volatility, according to the chief investment officer of financial firm Wren Sterling. Global stocks have recovered from a turbulent start to the month, with the slump blamed on fears of a U.S. recession , signs of exhaustion in the artificial intelligence trade and the rapid unwinding of yen-funded " carry trades ." The bounce back has tempted some investors to tiptoe back into shares of U.S.

The consumer has got a savings rate over 11% and the companies are buying back their stock, they are not trading on a challenging valuation and we're on course to have the first positive quarter of earnings growth in a year on the FTSE 100. So, that's a positive backdrop for the U.K." McPherson said some investors had already been tempted to rotate back into U.S.

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