He FTSE 100 it has shot higher in 2023. And on Friday it achieved what experts had been predicting for weeks, closing at record levels.
Helped by a weaker pound, London’s blue chip index ended the week at 7,901.8 points. It is now up 6% since the New Year.
I am looking to add some of the top FTSE stocks to my own portfolio soon. Here are two on my shopping list.
Unilever
Producer of food and household items Unilever (LSE: ULVR) In my opinion, it’s the ultimate in “peace of mind” actions. That’s why it’s a notable holding in my own stock portfolio.
Demand for your products can fall when consumer spending is under pressure. But the strength of heavyweight brands like Pigeon soap, Magnum ice cream and Hellmann’s mayonnaise helps reduce this threat.
In fact, they have such strong customer loyalty that the company is able to raise prices at all points in the economic cycle without experiencing a plummet in volumes. The latest financial data showed core sales rose 10.6% during the third quarter, even as the cost-of-living crisis dragged on.
Price growth reached 12.5% between July and December. However, volumes fell just 1.6% year-over-year.
As a shareholder, I am also excited about the appointment of Hein Schumacher as the new CEO. This is due to his extensive experience in emerging markets.
previously directed Heinz‘s in China and then the wider Asia Pacific territory, before leaving to join FriendlandCampina, where he worked as CFO and then CEO.
Schumacher, who will take the reins on July 1, could take sales in these hot growth markets to the next level.
Associated British Foods
Retail value is an exciting sector for UK equity investors in 2023. And I am considering increasing my exposure to this fast-growing segment by buying shares in Associated British Foods (LSE:ABF).
Consumers are getting smarter with their cash. This has turned fast fashion companies like ABF’s Primark into giants of the apparel industry. And if recent trade is any good, low-cost retailers could be among the best stocks to buy as shopping budgets remain tight.
Comparable sales at Primark rose 11% in the 16 weeks to January 7, the latest financial data showed. Cash-strapped customers were switching to cheaper alternatives and companies like Primark were reaping the rewards.
I am confident that ABF’s budget retail division will continue to be an impressive revenue generator. It opened 10 new stores in the period to January 7 and plans to cut the ribbon on another 17 in the US and Europe this year. It also continues to develop its online channel to capitalize on the digital boom, although it doesn’t actually operate a web store.
High product costs could hit profits hard in 2023. It has vowed to keep its prices fixed until the fall in a move that could hit margins. But I would still buy FTSE 100 shares for their exceptional long-term potential.
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