2 FTSE growth stocks to buy as the US market becomes almost uninvestable!

There are several reasons why I prefer the FTSE on any other index at this time. One of them is valuations. UK-listed shares simply haven’t been as popular amid concerns about the general health of the economy and Brexit.

But now we have to think about the exchange rate. A year ago, £1 earned me about $1.40. But the pound weakened and the dollar strengthened. Today, £1 earns me $1.20, and some analysts believe the pound could fall over the next few weeks to $1.15.

So why is the exchange rate important? In the long term, I expect the pound to be a stronger position than it is right now. If I invested in a US stock now and the pound appreciated 10% over the next three years, that would wipe out 10% of the value of my investment.

Therefore, I look at UK-listed growth stocks instead of NASDAQ. So here are two of my top UK growth stocks that I would buy now.

Kropz

Kropz (LSE:KRPZ) is an Africa-focused phosphate rock mining company. Rock phosphate is the raw material used to produce phosphate fertilizers. The company seeks to play a major role in the food industry in the decades to come.

The company’s main asset is located in Elandsfontein, in South Africa’s Western Cape province. Kropz hopes to produce rock phosphate from its Elandsfontein mine later this year. However, it has already been forced to delay its first wholesale sale, which is now scheduled for later this year.

About 85% of rock phosphate is used in the production of fertilizers. And now may not be a bad time to enter the market, as fertilizer prices have skyrocketed due to rising fuel prices.

Kropz also says Hinda’s rock phosphate asset in the Republic of Congo could be “one of the largest undeveloped sediment-hosted phosphate reserves in the world“.

I’m a bit worried about the first production date. And it should be noted that there is a significant difference between the buying price and the selling price. Nevertheless, I consider this title as a good long-term investment.

Power Ceres

Power Ceres (LSE: CWR) is a developer of fuel cell and electrochemistry technologies. There is clearly a lot of potential for any player in this area.

The company is moving quite slowly, but there are signs that this stock could be about to take off. The OBJECTIVE-a listed company recently announced a China-focused joint venture with Bosch and Weichai Power was now expected to take place in the second half of the year.

Fuel cells won’t just be used in cars, but everything from powering homes to supporting massive cloud data centers. In partnership with Weichai, Ceres has developed a unique electric vehicle (EV) range extender system, using its SteelCell product, offering high levels of efficiency and with very low emissions.

In June, Ceres Power also announced the signing of an agreement with Shell to deliver a megawatt-scale solid oxide electrolyser demonstrator in 2023. It will be used at Shell’s research and development technology center in Bangalore where the hydrogen will be used in industrial processes on place. Such products could have enormous potential in remote facilities or construction sites, such as the Saudi NEOM project.

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