Forty-Year Low for U.K. Stock Gauge Attracts BofA Merrill

U.K. stocks are poised to provide investors with a big “entry point” after dropping to an almost four-decade low relative to other developed markets, according to Michael Hartnett, chief investment strategist at Bank of America Corp.’s Merrill Lynch unit. Hartnett cited the ratio of MSCI’s U.K. and World Ex-U.K. indexes in a report Friday. Four days ago, the indicator fell to 0.5875, the lowest reading since December 1976.