Ever wondered why the number of Stocks and Shares ISA millionaires rocketed during the 2010s? Well let me tell you. They used the 2008–09 stock market crash as an opportunity to buy quality UK shares at low cost. They then watched the value of these shares soar as economic conditions improved and confidence came flooding back into financial markets. Simple, right?
I fully expect UK share prices to surge again following the stock market crash of early 2020. It’s why I’ve continued to buy stocks for my own ISA despite the cloudy near-term economic outlook. I plan to keep adding to my shares portfolio in the weeks and months to come. And I think you should too.
3 top buys for your ISA
Here are three top-quality UK shares I’m thinking of adding to my Stocks and Shares ISA:
Britons’s spending on animal care has remained resilient despite the economic worries caused by Covid-19. This isn’t a surprise to me, at least. History shows that spending on keeping our pets in tip-top shape remains strong regardless of pressure on broader consumer spending. And this is why I consider Pets at Home Group – a seller of pet food, toys, and other accessories, and provider of veterinary care and grooming services – to be a top buy today. Just this month the FTSE 250 firm said that trading for the current fiscal year (to March 2021) would sprint past market expectations.
Trading at Renewi has also been better-than-expected, as this week’s market update revealed. Volume recovery at the waste management giant has picked up considerably in the Low Countries in recent months, leading to hopes that the UK share – which has halved in value since the stock market correction kicked in – can keep recovering ground. I consider Renewi to be a great buy for long-term investors as the green agenda should drive demand for its recycling services. And I’d use its price crash in 2020 as a sound buying opportunity.
Boohoo Group’s also been in the headlines this week. Soaring global demand for its clothes helped revenues soar 45% in the six months to August. It has also managed to keep operating margins at much healthier levels than its rivals. This UK share has two major weapons in its arsenal: its online model allows it to ride the spectacular growth of e-commerce. And the low price point of its goods should attract plenty of attention given the weak condition of consumer spending power for the foreseeable future.
Helping you get rich with UK shares
Boohoo et al are just a few of the top-quality UK shares I’d buy for my own Stocks and Shares ISA today. There’s still plenty of opportunity for investors to make fortunes with British stocks despite the challenging economic outlook. And with the help of The Motley Fool and its enormous library of special reports you and I can find even more to help us make a fortune. We might even become ISA millionaires.
The post Calling ISA investors! 3 of the best UK shares I’d buy today to make a million appeared first on The Motley Fool UK.
Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended boohoo group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
Motley Fool UK 2020