With a third of 2024 already gone, the UK’s FTSE 100 is looking good. It has made a number of record intra-day and closing highs this year. Now the index is 6.2% ahead since 29 December 2023. However, London’s main market index is slightly trailing its US counterpart, the S&P 500 index, which is up 7.2% since end-2023. Despite this positive start, I still view the Footsie as undervalued, both in historical and geographical terms. For example, here are two FTSE 100 shares my wife and I own. We’re holding onto them for this month and beyond. Anglo American (LSE: AAL) is a leading mining company, operating copper, iron-ore, platinum and diamond mines in various countries. After reporting weaker production late last year, Anglo’s shares crashed to a 52-week low of 1,630p on 8 December. That said, they’re up 12.9% over one year, plus they’ve jumped by 42.4% over five years, excluding cash dividends. As I write on 3 May, Anglo shares stand at 2,683.5p, valuing this group at £36bn. That’s a whopping 64.6% above December’s low. This surge was boosted by news of a huge takeover approach from the world’s biggest miner, BHP, alias ‘The Big Australian’. Of course,...