I’d buy and hold these 2 FTSE 100 shares right now!

With the FTSE 100 down year-to-date, there could still be a great opportunity to buy shares in great companies. I’d start by looking at these two.

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With FTSE 100 share prices falling, now is a great time to pick up some bargains. In light of the coronavirus pandemic, the index has slumped by 18% year-to-date. 

However, just because something is cheap, it doesn’t mean it’s a bargain. Often there’s a very good reason a stock is cheap, and it should be avoided.

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These turbulent markets often favour long-term investors. These investors have the time to ride out short-term fluctuations and to take advantage of the FTSE 100’s likely recovery.

I’ve identified two FTSE 100 stocks that I think might be good shares to buy and hold.

Reckitt Benckiser

In the current market, I don’t think there’s anything better than a company selling small-value consumable items. I see these sorts of companies as relative safe havens, particular given the volatility in the market. I can’t imagine the majority of customers quibbling about spending a few pence extra on their favourite branded items such as those offered by Reckitt Benckiser (LSE: RB).

Reckitt Benckiser’s share price is a testament to its defensive capabilities. Unlike the FTSE 100, its share price has risen by roughly 25% year-to-date. This gives the stock a price-to-earnings ratio of 22. Far from cheap, then.

But with an extensive list of household brands in its portfolio, like Vanish, Durex, and Gaviscon, I think Reckitt Benckiser has an in-built economic moat against rivals. I believe this is worth paying a bit extra for.

With various hygiene products in its portfolio, like Harpic and Dettol, the company will probably see higher revenue for some time to come.

In any case, I think Reckitt Benckiser has proven that it’s a defensive gem in the FTSE 100 and could be a good share to buy and hold.

A cheap FTSE 100 share?

Unlike Reckitt Benckiser, the Legal & General (LSE: LGEN) share price looks cheap to me. Year-to-date, the FTSE 100 financial giant’s share price has slumped 27%. This reduction in price means the price-to-earnings ratio is just 8.

Like most of the FTSE 100, Legal & General has been impacted by Covid-19. However, as fellow-Fool Rupert Hargreaves notes, due to an impressive jump in new business, the company has suffered less than others.

Unlike other companies in the UK index, Legal & General has committed to its dividend. With other FTSE 100 businesses slashing, suspending, or cancelling dividends, this should get potential investors interested. However, what’s seriously impressive is Legal & General’s prospective dividend yield, which is currently 7.5%. I think this indicates that, despite the coronavirus, the business is financially robust.

With Legal & General’s seemingly cheap share price and generous dividend, I think it could be one of the best FTSE 100 stocks to buy and hold right now.

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T Sligo has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. 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.

Should you invest the value of your investment may rise or fall and your Capital is at Risk. Before investing your individual circumstances should be considered, so you should consider taking independent financial advice.

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