The UK stock market has a wide range of options for me to invest in. There’s a large gulf between good and bad performers, meaning that I need to be smart in finding the best UK shares to buy at the moment. For example, the top FTSE 100 gainer last week rallied by 18%. The worst performer in the index fell by almost 12%. To try and make the most out of my spare £750, here are the options I’m looking at now.
Property showing no signs of slowing
The first stock that I like is Rightmove (LSE:RMV). Over the past year, the share price has fallen by 3%. The online property marketplace had a booming 2021 as property rallied and there was a surge of activity. Revenue for the year rose 48%, with operating profit up 68%.
What impresses me is the positive outlook that the business has for the year ahead. Some might think that this had been one of the best UK shares to buy last year, but not now. I disagree with this thinking. The company has invested heavily recently in technology and people to help keep the momentum going. Further, the fears around a property crash seem to have eased. It appears that the market could remain buoyant, albeit with slower growth.
As a risk, I think there could be some hit to traffic due to people shunning higher mortgages rates. The rise in interest rates will be filtering through to the mortgage market. This could mean that people can’t afford repayments on a property they might have otherwise bought.
A top banking share to buy
Another one of the best UK shares to buy now, in my opinion, is Standard Chartered (LSE:STAN). The global bank sometimes gets overlooked by British investors in favour of more popular options such as Lloyds Banking Group. However, with a rally of 26% in the past year, Standard Chartered stock has a much better recent performance.
One of the reasons for this outperformance is because the business focuses mostly on Asia. This region is growing at the fastest pace, especially in comparison to Europe (or more specifically the UK). As a result, Q1 earnings included a 9% increase in income versus the same period last year, with net interest income up 10%. This was largely thanks to the higher interest rates in many developed markets.
Exposure to Asia can be flipped to a risk as well, of course. Some nations are still grappling with Covid-19, even though here in the UK there are no restrictions in place. If this divergence continues, it could put a strain on one of my favourite shares to buy now.
I’m considering an investment in both of the stocks mentioned. With my £750, I’d split it evenly between the two. I think they could perform well not just in 2022, but for the long term.