Searching for the best value stocks to buy on the London stock market? Here are two top FTSE 100 and FTSE 250 shares I think offer brilliant bang for one’s buck.
Gold star
Hochschild Mining (LSE:HOC) shares have slipped 9% in value over the last month. The reason? A sharp dip in gold and silver prices. The FTSE 250 company operates three working mines in Brazil, Argentina, and Peru.
These safe-haven assets will likely continue sliding if the US dollar continues its recent bull run. A rising buck makes it more expensive to buy and hold gold and silver, hitting values and by extension producer profits.
Yet underlying gold demand remains rock solid, suggesting a fresh rally could be around the corner. Holdings in bullion-backed exchange-traded funds (ETFs) remained just below February’s record highs of 4,176 tonnes last month, at 4,121 tonnes. That’s according to World Gold Council (WGC) data.
Demand from global central banks is also white hot. These institutions bought another 850 tonnes of the yellow metal in 2025, European Central Bank (ECB) data shows. As a result, central banks held more gold (27% of reserves) than US Treasuries (22%) at the end of last year.
Owning mining shares instead of physical gold is riskier way to gain bullion exposure. It can also be more volatile than holding a gold-price-tracking ETF like those mentioned. But the potential returns can also be far greater, as higher gold prices can have a disproportionately positive impact on miners’ earnings. This reflects their relatively fixed costs.
In the last year, Hochschild’s share price has risen 75% in value. By comparison, gold has gained 29%. I think the company could rebound again, supported by its low forward price-to-earnings (P/E) ratio of 8.8 times.
A 7.8% dividend opportunity?
Aviva (LSE:AV.) is a FTSE 100 share I hold in my portfolio today. At current prices, it’s another top value stock I think investors should consider. I’d buy more myself had I any spare cash to invest!
The financial services giant’s dropped 11% in value since the start of 2026. This reflects fears over how the Iran war could impact demand for its discretionary (ie, non-general-insurance products). It’s a threat that investors need to take seriously.
That said, I think the scale of the decline is unmerited. Past performance isn’t always a reliable guide to what’s coming. But Aviva has proven its resilience to challenging conditions in recent times, growing operating profit 25% last year despite inflationary pressures and weak growth in its core UK market.
Can it continue delivering impressive bottom-line growth? City analysts are confident, their enthusiasm boosted by the firm’s increased exposure to capital-light businesses. And so Aviva’s P/E-to-growth (PEG) ratio is a rock-bottom 0.1 for 2026, and remains below the bargain watermark of 1 through to 2028, too.
As a keen dividend investor, I’m also impressed by Aviva’s dividend yields at the current share price. These range from 6.9% to 7.8% over the next three years.
Should you invest £5,000 in Aviva Plc right now?
When investing expert Mark Rogers and his team have a stock tip, it can pay to listen. After all, the flagship Twelfth Magpie Share Advisor newsletter he has run for nearly a decade has provided thousands of paying members with top stock recommendations from the UK and US markets.
And right now, Mark thinks there are 6 standout stocks that investors should consider buying. Want to see if Aviva Plc made the list?
Royston Wild owns shares in Aviva.
