Right now, British investors have a great chance to buy cheap shares. With the FTSE 100 down significantly due to geopolitical uncertainty, there’s a lot of value on offer within the UK market at present.

For those with Stocks and Shares ISAs, this opportunity comes at a good time as many investors will be looking to top up their accounts with fresh capital in the next few weeks before the 5 April deadline. So, which are some good shares to consider?

Projected to rise nearly 30%

Scanning the FTSE 100, one name that looks attractive to me today is Prudential (LSE: PRU). It’s a well-established insurance company that’s focused on the high-growth Asian and African markets.

It’s currently trading for around 1,090p, down from around 1,230p in February. At the current share price, the stock’s price-to-earnings (P/E) ratio is 12.1, falling to 10.5 using next year’s earnings forecast.

These earnings multiples are below market averages. Note that the average analyst price target for the stock is £13.83 – about 27% above the current share price.

Earlier this week, Prudential posted its results for 2025 and they were strong. For the year, new business profit grew 12% per cent to $2.8bn.

On the back of this performance, the company hiked its dividend by 15% (signalling management is confident about the future). It also announced some sizeable share buybacks.

In the results, CEO Anil Wadhwani said that structural demand for its products in Asia and Africa continues to rise due to increasing protection, retirement, and wealth needs of consumers. He added that the company is carrying the momentum from 2025 into 2026 and that it’s confident of generating double-digit growth this year.

It’s worth pointing out that a major economic slowdown across Asia is a risk with this stock. This could lead to a temporary dip in demand for the company’s financial products.

Taking a five-year view though (our preferred time horizon here at The Motley Fool), I see a lot of potential. I think this stock is worth a closer look right now while it’s down.

A dividend yield of 7.6%

Now, one downside to Prudential is that its dividend yield isn’t very high. Currently, it’s only about 2%.

An alternative option for those seeking higher levels of income is M&G. This is a savings and investment company that was split off from Prudential back in 2019.

It currently sports a yield of about 7.6% (one of the highest yields in the FTSE 100). It’s also very cheap though – the forward-looking P/E ratio is around 10 right now.

Of course, this stock has its own risks. A major stock market meltdown is one – this would hurt its profits.

Again though, taking a long-term view, I see potential for attractive returns. I think it’s worth considering at current levels.