The FTSE 100 leading index of British shares has a solid risen 13% in the year to date. That’s roughly in line with the performance of the high-flying S&P 500 index of US shares. And it’s all the more impressive given ongoing uncertainties facing the UK and global economies.
Yet, despite these strong rises, I believe scores of top Footsie-listed shares still look dirt cheap at today’s prices. Here are three I think deserve serious attention as we move into October.
Standard Chartered
Standard Chartered‘s (LSE:STAN) share price has risen an incredible 47% so far in 2025. Only high-flying Lloyds shares have outperformed the emerging markets company from the banking sector.
Yet, it still offers brilliant value in my view, with a forward price-to-earnings (P/E) ratio of 9.7 times. Its P/E-to-growth (PEG) ratio is also below the bargain watermark of one, at 0.5.
The risks to StanChart are high given problems in China’s property sector and tariff threats to Asian economies. But the long-term earnings opportunities are also significant as wealth levels in Asia and Africa rocket.
Encouragingly, the bank is making progress in asset management and investment banking, areas which stand to gain particularly strongly from these regions’ booming middle classes. I don’t think these opportunities are reflected in the bank’s current low valuation.
Mondi
Mondi‘s (LSE:MNDI) share price has tanked 13% since 1 January. This reflects tough trading conditions, and the threat of enduring problems should weak growth and trade tariffs impact global trade.
But I think this drop merits serious attention from value investors. The packaging manufacturer’s PEG ratio sits at a seriously low 0.1 for this year.
And it remains below 1 through the next few years, coming in at 0.4 and 0.9 for 2026 and 2027, respectively.
Mondi’s dividend yields for the period also range from 5.9% to 6%.
Mondi’s not without risks, but acquisitions and capacity increases across its portfolio leave it placed to capitalise on a cyclical upturn. Over the long term, the packaging industry looks set for robust long-term growth as e-commerce drives greater volumes of boxes and other packaging materials. This sector giant is in one of the box seats (no pun intended) to benefit from this.
GSK
GSK (LSE:GSK) shares have risen 11% in the year to date. But compared to the broader pharmaceuticals sector, the company still looks dirt cheap, its forward P/E ratio at a modest 9.5 times.
FTSE 100 rival AstraZeneca, for instance, trades on a much meatier 16.3 times.
Fears abound over GSK’s drugs pipeline versus its peers, posing questions over future earnings. But heavy R&D investment leaves it looking in its strongest position for years — the business is targeting 15 major product launches between now and 2031. This gives it significant earnings possibilities as global healthcare investment soars.
GSK shares also offer a blue-chip-busting 4.3% dividend yield right now, offering an added sweetener from a value angle.
