The major stock index in the UK, the FTSE 100, includes some of the biggest and most profitable multinational companies in the world. But in recent years the index has trailed the US markets and is now considerably cheaper. Today on the show, FT reporters Ethan Wu and Rob Armstrong ask if investors are overlooking a bargain. Also we go long cocoa and long the Taiwan Semiconductor Manufacturing Company.

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Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.

Read a transcript of this episode on FT.com

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