Are UK domestics undervalued?

We have published a note examining the gap between UK domestic stock valuations and UK quoted global plays. Last year an already significant valuation gap between domestics and internationals expanded and this note explores if this discrepancy is justified or not. As always much depends on ones perception of likely economic or political outcome but, while we accept there is considerable political risk, for the UK, over the next few months, our analysis suggests that UK domestics are already discounting all but the hardest of landings. Please contact us for a copy of the note.