It wasn’t always like this. In 2014, Tesco was a basket case. Market share, sales, profits, staff morale and customer attitudes were falling as one. Plans for global domination had flopped, with Tesco losing £1.7bn on its ill-fated Fresh and Easy US business. Throw in a £326m accounting shock and a horse meat scandal, and that stands as Tesco’s darkest hour. Then came the dawn.

‘Drastic’ Dave Lewis (now at Diageo) began the turnaround, and from 2020 CEO Ken Murphy has continued the good work. We’ve seen that again this morning (16 April) with yet another set of well-received results.

Top FTSE 100 growth stock

Tesco shares are up around 2.5% this morning after it reported growth across all divisions in the year to 28 February. Initiatives such as its Everyday Low Prices and its Aldi Price Match continue to pull in the punters, while its Clubcard conquers all. Tesco Finest is thriving too.

Group like-for-like sales rose 3.5%, hitting 4.2% in the UK, but wholesale distributor Booker remains sluggish at 0.2%. Group adjusted operating profit climbed 0.6% at constant exchange rates to £3.15bn, beating guidance. Free cash flow rose 11.8% to £1.96bn, boosted by rising sales and disciplined working capital management.

However, the board was cautious about the year ahead, warning of the impact of the conflict with Iran. Guidance suggests underlying operating profits of between £3bn and £3.3bn. Much depends on how long the war lasts and the impact on oil prices, supply chains, inflation, unemployment and the like.

While that’s completely out of the grocery giant’s hands, Tesco is better placed to withstand the downturn, because of its market strength, strong supplier relationships and pricing power. The board has also worked hard to cut costs, helping to offset the impact of higher employer’s National Insurance and two big minimum wage increases.

And there’s income too

As well as growth, Tesco has delivered dividends. The trailing yield has slid to just 2.87%, as a direct consequence of that share price surge. Recent policy has been progressive, with the board hiking shareholder payouts by 11% in 2024, 13.2% in 2025 and 5.84% in 2026. The yield is forecast to hit 3.06% in 2026, then climb again to 3.36% in 2027.

Tesco shares are getting a little expensive, with the price-to-earnings ratio climbing to just over 17. That’s higher than rival Sainsbury’s, which has a P/E of just over 15. Tesco has been the better buy, but there’s a fair chance its shares will slow from here.

So is that share price too good to be true? No, it reflects a really strong and well-run underlying business, one that’s well worth considering. However, today’s toppy P/E makes me think the shares will struggle to maintain their recent velocity. Mind you, I suspect I said that a couple of years ago, and look how well they’ve done since.

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In money terms, anyone who invested £5,000 in a simple low-cost FTSE 100 tracker fund a year ago now has £6,881.66 in the bank. But then the question becomes, how much money could investors make if they invest £5k today?

Here are the latest forecasts from the analyst team at UBS – including one stock they think could outperform in 2026.

1. Bull case: +7%

UBS’s most optimistic scenario projects the FTSE 100 index reaching 11,300 points by December this year. This stems from several assumptions, including easier financial conditions driven by further interest rate cuts, acceleration of growth across consumer spending, and elevated commodity prices.

2. Base case: flat

If market conditions remain steady with moderate economic growth and the geopolitical conflict in the Middle East doesn’t materially worsen, UBS expects sectors like tech, real estate, and industrials to outperform.

While higher energy costs do negatively impact the latter, this impact may ultimately be offset by structural trends such as higher defence spending and manufacturing reshoring. And in this scenario, UBS expects the FTSE 100 to reach 10,500 points – roughly where the index stands today.

3. Bear case: -32%

If the war in Iran escalates and energy infrastructure is targeted, triggering a massive surge in global oil & gas prices, the picture doesn’t look pretty for the FTSE 100. And the pressure on businesses would only be amplified by a slowdown or even a potential reversal of interest rate cuts.

In this scenario, UBS’s outlook is pretty dire, with the UK’s flagship index crumbling down to 7,200 points, essentially wiping out almost three years of stock market gains.

Which UK shares should I buy?

From a risk-to-reward perspective, this outlook suggests that now might be a good time to think defensively. By investing in mature businesses that thrive regardless of the economic landscape, a portfolio can be better protected in case disaster strikes.

So, it’s no wonder that Tesco (LSE:TSCO) is on the list of UBS’s highest-conviction picks right now. In fact, the supermarket giant seems to be in a unique position of benefiting from every scenario, even the worst case.

• Energy-driven inflation encourages consumers to trade down from restaurant spending to cooking at home.
• Its stable case flows limit the group’s sensitivity to interest rate shifts.
• A squeeze in consumer spending pushes shoppers towards Tesco’s own private label brands.

Having said that, this is far from a risk-free investment.

Prolonged elevated fertiliser costs risk a significant increase in food prices. Tesco may be forced to absorb all or some of these expenses to remain competitive with other discount retailers like Aldi and Lidl. And given the group’s already thin margins, even a slight reduction in profitability can have a disproportionate impact on the bottom line.

Nevertheless, this isn’t Tesco’s first rodeo. And with a long track record of navigating through tough economic conditions, investors may want to take a closer look at this enterprise, among other defensive UK shares, for their portfolios today.

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Looking ahead, I still like shares as an asset class, but I do see a few risks to the market. With that in mind, here’s how I’m positioning my portfolio.

The risks

There are two main risks I see right now. The first is a near-term economic slowdown due to elevated oil prices. The second is a significant drop in consumer spending due to AI-related layoffs. Of the two, this one concerns me the most.

Now, neither of these scenarios may come to fruition. But I want to be prepared just in case. After all, this is my retirement money we’re talking about. I don’t want to see it disappear (bear in mind I’m in my mid-40s).

My asset allocation

Given these risks, I’ve made a few recent changes to my asset allocation. Firstly, I’ve dialed down my equity exposure a bit – overall my portfolio is now about 70% shares.

Second, I’ve increased my bond holdings so that they’re now about 10% of my portfolio. These are lower risk investments and they could do well if interest rates fall as I expect them to (bond prices rise when rates fall).

Third, I’ve boosted my money market/cash holdings to 20% of my portfolio. This lowers my overall risk and gives me options if stock market opportunities emerge.

My stocks

Zooming in on my shares allocation, this encompasses index funds, active funds, thematic funds, and individual stocks. In terms of individual stocks, I’m still heavy in five of the Mag 7 companies – Apple, Amazon, Microsoft, Google, and Nvidia. These are all long-term holds for me.

I’ve been trimming/selling a few other tech names though. I’ve done this mainly to reduce risk. One area of the market I’m trying to minimise exposure to is discretionary consumer spending (given the AI risk). There are some good names in this space, but I want to keep my exposure to a minimum.

Looking ahead, I plan to refine my stock portfolio further. I’m thinking of focusing it on two main areas:

• The AI/tech buildout: chips, data centres, power.
• Defensive businesses: Food, healthcare, defence.

This would basically be a play on further digitalisation. In theory, the AI stocks should do well as the world becomes more digital while the defensive shares should provide protection from a consumer slowdown.

A stock I’m looking at

One company I’m considering adding to my portfolio as a defensive play is Tesco (LSE: TSCO). No matter what happens in the economy people are always going to need food.

If the economy or consumer spending takes a turn for the worse, Tesco shares should hold up better than a lot of other stocks. The company could even see a higher valuation in the years ahead due to the fact that it looks immune to AI – this is very much a ‘HALO’ stock – heavy assets, low (chance of) obsolescence.

Of course, if the economy tanks, consumers may ditch Tesco and flock to Aldi and Lidl. This is a risk. Overall though, I see it as a safer pick, despite the fact it’s trading at an above-average valuation. A dividend yield of 3% adds weight to the investment case.

The post Amid geopolitical and AI risks, here’s how I’m positioning my ISA and SIPP in 2026 appeared first on The Motley Fool UK.

It can’t be ruled out. The ceasefire in Iran is fragile. Talks with the US could break down at any point, and the fighting could resume.

FTSE 100 uncertainty ahead

On 6 April, Brent crude hit $109 a barrel amid talk of $200 by the summer. Last week, it retreated to $95. That’s just one example of how markets are impossible to predict. At The Motley Fool we don’t even try. Instead, we focus on getting ourselves ready for whatever tomorrow brings.

For me, that means sticking to the basics. Build a diversified portfolio covering a span of stocks and sectors. Focus on companies I’m happy to hold for at least five years, and ideally longer. And keep a watchlist of high-quality businesses I’d love to own at the right price. If a sell-off comes, I want to know what I’m buying, and why. I keep a spot of cash handy in my trading account, just in case.

In a crash, shares tend to fall across the board. The good plunge with the bad. The key is to focus on businesses with strong competitive positions, reliable cash flows and proven management. When that kind of company goes on sale, it’s time to go shopping.

Tesco shares are a bit pricey

FTSE 100 grocery giant Tesco (LSE: TSCO) stands out on those terms. It’s had a remarkable run lately. The shares are up 54% over the past 12 months and 107% over five years, with dividends on top. It’s been behaving more like a whizzy growth stock than an established blue-chip behemoth.

Tesco has tightened its grip on the UK grocery market, using its scale to keep prices competitive. Its Clubcard scheme continues to drive loyalty and repeat spending. Fresh food sales have been rising rapidly. Market share has slipped slightly since Christmas to 28%, but that’s still way ahead of closest rival Sainsbury’s at 15.6%, Worldpanel data shows.

Tesco still faces challenges. Wholesale distribution company Booker is underperforming the wider group. Margins are perenially tight at around 3.9% and could be further squeezed by the energy price shock. Aldi and Lidl continue to menace. After a strong run, Tesco trades on a relatively high price-to-earnings ratio of 17.7, while the trailing yield has slipped to 2.8%.

I’m ready to invest

That could quickly change if we get a stock market crash and Tesco shares are dragged down with everything else. This is exactly the kind of high-quality, resilient business I’d love to pick up at a discount and hold for years.

I don’t know if a crash is coming. Nobody does. And investors can’t afford to sit on the sidelines waiting for one that may never arrive. But if it does happen, I have my game plan. And I’ve got several more top FTSE 100 stocks on my shopping list today. Now let’s see what next week brings.

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So, what’s happening? Let’s explore.

It was never beaten up

When the conflict started in the Gulf, markets fell. But it wasn’t equal. In fact, some stocks gained, such as oil and shipping.

Tesco wasn’t a gainer, but investors were slower to sell their shares in the FTSE 100 grocer. And that’s all due to risk.

Tesco sells groceries. People bought them before the war, during it, and they’ll keep buying them now. That predictability makes it what fund managers call a defensive stock — one with low sensitivity to the economic cycle. When the world turns uncertain, money tends to flow towards stocks like Tesco rather than away from them. It’s not exciting, but it’s reliable.

That dynamic protected Tesco on the way down. The same dynamic is working against it today. The ceasefire is a risk-on event — investors are pouring back into the stocks that sold off hardest: banks, airlines, housebuilders. Tesco didn’t sell off hard, so it doesn’t snap back hard. You can’t recover ground you never lost.

In practice there is some additional nuance here. Tesco has greater cost-efficiencies than its peers and in the event of sustained cost inflation, customers may trade down from Marks & Spencer to peers like Tesco.

However, higher oil and energy prices undoubtedly hurt the supermarket giant. It has a logistics fleet, deliveries, and fridges to run.

Trading very close to fair value

Tesco is a British champion. It’s an operational masterpiece and the brand strength is pretty much unmatched. It has also proven its ability to fight off competition from peers like Lidl and Aldi. Because of this, it deserves to trade at something of a premium to its peers.

It’s also a phenomenally consistent performer. Revenue has grown in every year since the pandemic and it’s forecasted to do the same in 2026 and 2027.

However, the difficulty is knowing how big that premium should be. Tesco is currently trading around 15.3 times forward earnings, offers a 3.3% dividend yield — covered 1.99 times by earnings — and has £10.3bn in net debt — that’s around 11 times net income.

At the other end of the scale, there’s Marks & Spencer. It trades a 10.3 times forward earnings, offers a 1.96% dividend yield — covered 5.04 times by earnings — and carries a net debt position of £2.5bn — that’s around 6 times net income.

My take

Tesco is an incredible company. However, I’m starting to think that the premium is a little stretched. Institutional analysts agree with the stock trading just 1% above the current price. It might still be worth considering, but I think there’s definitely better value to be found elsewhere.

The post Up just 1%: what’s going on with Tesco shares now? appeared first on The Motley Fool UK.

The market still prices the UK’s dominant grocer as if it were a low‑growth plodder rather than the disciplined, cash‑generating operator it has become. Yet its margin control, scale advantages and dependable earnings profile tell a far more compelling story.

So where should the stock really be trading now, based on its true worth? 

Key drivers for growth

The engine for share price gains in any stock is earnings growth momentum.

A risk for Tesco is the high degree of competition in the sector that may narrow its margins. Another is any further surge in the cost of living that may cause customers to reduce spending. Even so, analysts forecast its earnings will increase by an average of 9.2% a year to end-2028 at minimum.

This looks well supported by its previous fiscal-year 2024/25 results.  Adjusted operating profit jumped 10.9% year on year to £3.13bn, reflecting strong volume performance, Save to Invest delivery and improved category mix in Central Europe.

Adjusted earnings per share soared 17% to 27.38p, helped by higher profit, lower finance costs and ongoing buybacks. Since October 2021, Tesco has bought back and retired £2.8bn of shares. An ongoing buyback totalling £1.45bn will complete by the end of this month.

In its latest results (Q3, released on 8 January), management said it expects 2025/26 full-year adjusted operating profit at the upper end of previous guidance. This was in the range of £2.9bn-£3.1bn.

Where ‘should’ it be priced?

Discounted cash flow (DCF) analysis pinpoints the ‘fair value’ at which any share should trade by projecting the underlying business’s future cash flows and ‘discounting’ them back to today.

This fair value is often very different from the share’s market price at any given moment. And the difference between the two can provide a huge opportunity for long-term investors to make big profits. The reason is that share prices tend to trade to their fair value over the long run.

Analysts’ DCF results can vary, based on the inputs used — some more bearish. But my modelling (including an 8.1% discount rate) shows Tesco shares are 29% undervalued at their present £4.79 price.

Therefore, their fair value is around £6.75 — significantly higher than where they trade today.

So, given the tendency for price and value to converge over time, this could be a superb buying opportunity to consider today if those DCF assumptions hold.

My investment view

Tesco’s core appeal lies in the strength and reliability of the cash the business generates, in my view. Steady cash flows fund regular buybacks, support a stronger balance sheet and give it the firepower to protect margins and market share.

Those qualities help underpin long‑term profit growth and reduce the risk of earnings shocks, rising debt pressure or competitive erosion.

Given the stock’s significant discount to fair value, I think it well worth the attention of long-term investors.

In my case, I already hold shares in Marks and Spencer, so another in the sector would unbalance my portfolio. However, other deeply-discounted high-growth stocks have caught my eye in recent days.

The post Under £5 now! Here’s why I think Tesco’s share price should be trading closer to £7 appeared first on The Motley Fool UK.

A lot of things have gone right. Tesco has tightened its grip on the UK grocery market, using its scale to keep prices competitive while protecting margins. Its Clubcard scheme has been a masterstroke, locking in customer loyalty and driving repeat spending. The group has also sharpened operations, cut costs, and gone back to basics by focusing on core food retail. Full-year 2025 results showed solid sales growth and strong cash generation, giving it the firepower to invest and reward shareholders. In short, it’s delivering the goods in a tough market.

Stunning FTSE 100 stock

Incredibly, the shares have stayed resilient during recent stock market volatility, and actually climbed 7% in the last week. That means someone who invested £10,000 just seven days ago would now have £10,700, a tidy £700 gain before trading costs.

At The Motley Fool, we don’t judge success over such a short spell. Thankfully, Tesco has delivered over longer periods too. Its shares are up 47% over one year and almost 115% over five. Dividends are on top, and for much of that time the yield topped 4%.

The income is somewhat slimmer today, with the trailing yield at 2.8%. That’s largely because the share price has done so well. Tesco raised its 2024 total dividend by 11% to 12.1p, then lifted the 2025 payout by a further 13.2% to 13.7p. Investors are sharing in the success. The question is whether it can last.

There are risks. Rising oil prices and supply chain shocks could push inflation higher again, squeezing shoppers and making them feel poorer. Grocery retail is already fiercely competitive, with price wars a constant feature as supermarkets battle for market share.

Costs are rising too. Tesco employs more than 300,000 people in the UK, so recent increases to employer National Insurance and the minimum wage will bite. Energy, logistics, and supplier costs remain volatile, threatening to squeeze already tight margins. There’s the ongoing threat from discounters Aldi and Lidl, which continue to nibble away at market share. Wholesale subsidiary Booker has been floundering.

This stock keeps delivering

I’m struggling to see how this pace of growth can continue indefinitely. The shares now trade on a price-to-earnings ratio of 17.6, which is no longer cheap. Unless the Iran war ends quickly, the UK is heading for a bumpy time. Then again, Tesco might be better placed than most. Its sheer size gives it serious buying power, helping it secure better terms from suppliers and hold prices down. That could prove invaluable as the cost-of-living squeeze returns with a vengeance.

Maybe that’s why investors keep piling in. Tesco has become something of a defensive play, but with genuine growth prospects too. Normally, I’d be wary of buying after such a strong run. But given how central Tesco is to everyday Britons, I think it’s still worth considering at today’s price. And it could look even more tempting if markets dip.

The post £10,000 invested in red-hot Tesco shares just 1 week ago is now worth… appeared first on The Motley Fool UK.

Here’s a five-step guide.

1. Open an ISA

First, it’s necessary to choose an ISA provider. Inevitably, there will be a bit of paperwork involved but once that’s out of the way, it should be a relatively straightforward process to deposit some cash.

2. Maximise the opportunity

Each tax year, an investor’s allowed to put £20,000 into an ISA. All capital gains and income can be earned tax-free. This means the value of the investment pot’s likely to grow faster than with some other alternatives.

Please note that tax depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.

3. Start building a portfolio

The next step is probably the most difficult. It requires identifying some stocks to buy. How many? Well, it depends on an individual’s risk appetite. Putting all an investor’s eggs in a single basket isn’t a good idea. Instead, it’s better to buy a few shares. This helps mitigate against one (or more) of your stocks performing badly. Inevitably, some will do better than others.

The UK’s largest listed companies can be found on the FTSE 100. Generally speaking, these have the strongest balance sheets. In theory, this means their earnings tend to be the most reliable.

Since the pandemic, Tesco (LSE:TSCO) has been one of those that’s consistently delivered a strong performance. Despite facing intense competition, particularly from the German-owned discounters, it’s managed to increase its market share.

Each year during this period, it’s paid a dividend to shareholders. This is a distribution of profit and is intended to compensate for the risk of owning the grocer’s shares. After all, they could go down in value.

If Tesco started to see its position as the country’s leading food retailer threatened or if, for example, supply-chain inflation eroded its profit margin, then its share price might fall. And it might cut its dividend.

However, the business has proven to be remarkably resilient in recent years. It’s successfully adapted to changing shopping trends, including more people buying online. In my opinion, it’s a stock to consider.

4. Be patient

Since April 2021, its share price has risen by an average of 14.3% a year. At this rate, a £20,000 investment would grow to £565,179 over 25 years.

Over the same period, its average dividend yield (the annual payout divided by its share price) has been 3.69%. Apply this to our ISA and it would be possible to generate an annual second income of £20,855.

5. Buy more

However, by reinvesting dividends, it’s possible to achieve an even better return.

Using Tesco as an example, the five-year average return would increase from 14.3% to 18.5%. A £20,000 investment would be worth £1.39m after 25 years. This would produce an annual income of £51,406 assuming a yield of 3.69%.

These figures illustrate why so many see the stock market as a great way of building long-term wealth. And by holding a diversified portfolio containing some great British companies, like Tesco, I think it’s possible to earn a healthy second income.

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Investing in the stock market can be a way of earning extra cash without the effort. And getting started is easier than it might seem.

Businesses

There are three major obstacles to starting a business:

1. Coming up with an idea
2. Finding the cash to finance it
3. Competing against everyone else

The stock market offers a way around all of these. 

It lets investors own established companies with working business models and strong competitive advantages. And they can earn cash for doing so.

Tesco (LSE:TSCO) is a great example. Setting up a shop is the kind of thing that a lot of people can do, but it’s a lot of work.

It involves finding a location, negotiating with suppliers, and attracting customers. And then having to operate the thing.

Even for those who are up for that, Tesco has advantages in just about all of these areas. Beating Tesco at their own game is extremely tough. But the good news is that joining them is an option instead. 

Buying shares

Tesco shares are currently trading at £4.69. So a £1,000 investment buys 213 shares at today’s prices.

Anyone who buys the stock becomes an owner of the business. And – most importantly – they get a share of the company’s profits. Over the last 12 months, Tesco has generated earnings per share of 23p. And it returned 14.25p per share to investors as dividends. 

With 213 shares, that means £30.35. But the 9p or so per share that Tesco hasn’t paid out is arguably even more important. This goes into things like opening new stores and finding ways to keep down prices. In other words, making the company even stronger.

The idea is that this should result in even higher earnings and dividends over the long term. And that’s good for investors.

Risks

Investing always comes with risks. And in the case of Tesco, one thing to be aware of is the firm’s margins. 

For every £1 the firm generates in revenues, around 4p is left after operating costs. That’s not a lot.

If inflation causes costs to increase, Tesco doesn’t have much ability to absorb these. It has to put up prices, or risk losing money.

Increasing prices isn’t straightforward. It’s easy for customers to go somewhere else and they often do when they think there’s better value on offer.

That creates an ongoing challenge. But it’s also an issue for anyone who wants to open a shop independently.

Ultimately, consumers look for value. And tight margins make it extremely hard for anyone to undercut Tesco on price.

Earning income

I think anyone looking to earn a second income should consider the stock market. There are risks, but that’s true of a lot of opportunities. 

Getting started doesn’t take huge amounts of cash. And it’s a lot easier than setting up a business from scratch.

Tesco is just one example that I think is worth looking at more closely. There are plenty of others as well.

The post New to investing? Here’s how to use the stock market to try and generate a second income appeared first on The Motley Fool UK.

Of course, there’s no precise answer, as it would depend on which stocks were picked. That’s one of the major benefits of a self-directed ISA — they’re fully customisable. We can however, use the FTSE 100’s overall performance as a benchmark.

But first, let’s look at some of the other benefits of this popular British investment account.

The benefits of investing via an ISA

As most already know, a Stocks and Shares ISA allows UK investors to buy shares without handing a slice of the gains to the taxman. This can help supercharge returns over time in a way that standard trading accounts usually cannot.

If an investor had put £5,000 into a basic FTSE 100 tracker five years ago, that stake would now be worth close to £10,000 (with dividends reinvested). That’s based on the index’s total return of about 100% over that period (51% without dividends).

Without the ISA wrapper, about £2,000 (or more) could have been lost to taxes. This also reveals the power of compounding by reinvesting dividends.

But history shows these five‑year bursts aren’t the norm. Stretch that same index performance over 20 years, and the annualised return drops to around 5.6%. That’s a far more sobering figure – so how should long‑term investors plan?

Looking ahead

After a strong run, it would be normal to see weaker returns or even a correction. That doesn’t mean a crash is inevitable, but it does mean expectations should be grounded.

Over the next five years, returns could easily be lower than the last five, especially if profits slow or inflation or interest‑rate worries return. That’s where defensive areas of the market can help.

Healthcare, consumer staples and utilities often hold up better when the economy is shaky. People still need medicine, electricity and groceries, whatever the market is doing. One good example is Tesco (LSE: TSCO), and I’ll explain why.

Why Tesco stands out

Backed by its huge UK grocery footprint and strong brand loyalty, Tesco consistently generates healthy cash flow. That’s critical for income investors looking for reliable dividends, which it’s been paying uninterrupted for eight years.

The yield’s only 3% but is well-covered by a payout ratio of only 55% and 4.6 times cash coverage. Plus, the dividend has increased roughly 8% year on year since Covid. In volatile markets, reliability and coverage trumps yield.

A defensive business model further supports this. In tough times, shoppers might cut back on luxuries but they don’t stop buying food. So even when it’s all falling apart, Tesco continues to bring in revenue.

Not that it’s entirely risk-free. Grocery margins are thin, so higher costs, price wars or weaker consumer spending could all hurt profits. Recently, inflation and wage pressure have weighed on its finances – which could threaten the dividend if trading conditions soften.

Still, with a return on equity (ROE) around 13% and a valuation in line with the FTSE average, it looks like a safe option to consider. Boring, sure, but that’s exactly where to find comfort during uncertain times.

The post £5,000 invested in a Stocks and Shares ISA during Covid is now worth… appeared first on The Motley Fool UK.