Investor confidence remains in intensive care as Covid-19 continues its spread across the globe. Dip buyers have been thin on the ground and the FTSE 100 and FTSE 250 have made little-to-no progress over the summer months. The stock market crash might have been several months ago but, broadly speaking, UK shares remain quite unpopular.
That’s not to say that all stocks have been unloved in 2020. Indeed, there’s an abundance of UK shares that have soared in value since the beginning of the year. And many of these are in top shape to continue soaring in the near term and beyond.
Soaring after the stock market crash
Take B&M European Value Retail for example. This UK share’s jumped 17% in value since the turn of 2020 as Britain has entered what could prove a prolonged and painful economic downturn. In this environment, the discount retailer will see demand for its foods, household products and other goods fly off the shelves.
B&M reported less than a month ago that it’s enjoyed “a strong start to the new financial year” beginning April. I wouldn’t just buy it in anticipation of strong profits growth in the short-to-medium term, though. I’d buy it as its long-running store expansion scheme should deliver excellent investor returns over the next decade and beyond too.
Another rocketing UK share
IT services play Redcentric meanwhile has added a whopping 37% in value since the start of the year. This UK share is a specialist in the field of cloud computing, security and communications solutions. In other words, it’s well placed to ride the surging popularity in home and flexible working that Covid-19 lockdowns sparked.
Redcentric’s spent a pretty penny to upgrade its network and operational platforms in recent times. And this will enable it to fully capitalise on a likely demand surge for its services. The noises coming from the firm are already positive and it reported a “good” start to the new financial year that began in April.
FTSE 100 royalty
Reckitt Benckiser’s share price has also gone gangbusters in 2020. This FTSE 100 stock has rocketed 25% in the year to date. This is because major household goods manufacturers are popular safe havens when the global economy is sinking. It’s also because the coronavirus crisis has caused demand for this UK share’s health and hygiene products to spike.
I’d buy Reckitt Benckiser and hold it for years. Its diverse product ranges, its broad geographical footprint, and its huge stable of superstar brand names should deliver steady earnings growth in the near term and beyond. These are the very same reasons I bought Unilever shares a couple of years back.
Reckitt Benckiser et al are just a few of the top UK shares I’d buy today in an ISA. The Motley Fool’s epic library of exclusive reports reveals even more high-quality stocks today for you to buy. They could even help you become a stock market millionaire.
