Stock market rally: 2 FTSE 100 shares I’d buy today

first_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! News that coronavirus vaccines have been developed has resulted in an incredible stock market rally. This month, the FTSE 100 index is up about 15%.If the vaccines are the ‘game-changers’ they’re said to be, share prices could keep rising. With that in mind, here are two FTSE 100 stocks I’d buy for a potential market recovery.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Capitalise on the FTSE 100 recoveryOne FTSE 100 stock that strikes me as an excellent recovery play is alcoholic beverages company Diageo (LSE: DGE). It’s the owner of a wide range of well-known spirits brands such as Johnnie Walker, Tanqueray, and Smirnoff.Diageo has faced plenty of challenges this year due to the coronavirus. With pubs, bars, and restaurants across the world shut due to lockdowns, its ‘on-trade’ sales have taken a hit.The successful roll-out of a vaccine however, would improve the company’s outlook significantly. It’s worth noting that since news of the Pfizer vaccine broke, a number of brokers, including HSBC and Jefferies, have increased their price targets for Diageo substantially.I’ve been buying more Diageo shares for my own portfolio recently as I’ve seen the Covid-19-related share price weakness as a buying opportunity. My last purchase was around a month ago near £25. Since then, the stock has jumped about 18%. However, I still see value here. Currently, the stock remains about 17% below its 2019 highs. And the forward-looking P/E ratio of 23, while not cheap, isn’t excessive for a company with Diageo’s track record.All things considered, I think Diageo is a good stock to buy to capitalise on a potential FTSE 100 rebound.A stock market rally could push this stock higherAnother FTSE 100 stock that could benefit from a market rebound is St. James’s Place (LSE: STJ). It’s a wealth management company that, through a network of nearly 4,300 advisors across the UK, offers face-to-face financial advice to individuals and businesses. It earns much of its income from funds under management, meaning a stock market rally could push earnings higher.A recent trading update from St. James’s Place was quite encouraging. Not only did the group report funds under management of a record £118.7bn, up 1.5% year-to-date, but it also said funds under management retention rate for the year was a high 96.4%.On top of this, CEO Andrew Croft said the group is seeing an increasing demand for sound, highly-personal financial planning advice (a trend I’ve highlighted before). He also said the group remains “extremely well positioned to meet this opportunity” and to “drive further growth over time.”STJ is forecast to generate earnings of 48.3p per share next year, which puts the stock on a forward-looking P/E ratio of about 21.9. A prospective dividend yield of around 4% is on offer. I see these metrics as attractive.With the FTSE 100 stock still around 13% below its 2020 high, I’d buy today. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Edward Sheldon, CFA | Thursday, 26th November, 2020 | More on: DGE STJ “This Stock Could Be Like Buying Amazon in 1997” Edward Sheldon owns shares in Diageo and St. James’s Place. The Motley Fool UK has recommended Diageo. 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. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. 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