I think these 3 oversold FTSE 100 stocks will rise in the next bull market!

Happy day in my portfolio as the three underperformers FTSE 100 The stocks I own are today's top riders.

With the UK blue-chip index up more than 1% this morning, many of my holdings are doing well. I'm excited to see these three leading the charge. It suggests that the funds have the potential to recover as investors see bright times ahead.

My biggest lifter is the big cross lot, luxury fashion chain The Burberry Group (LSE: BRBY). It rose 5.36% as investors celebrated yesterday's 0.5% interest rate cut by the US Federal Reserve.

Stocks are flying this morning!

I'm not impressed. Even after this morning's spike, I'm sitting on a 40% paper loss. Some get worse. Burberry's share price has fallen by a brutal 71.32% over the past 12 months. I bought in the hope of a big yield, but the dividend was cut by the axe.

Burberry's shares still look cheap, trading at 8.21 times earnings. If I had the cash, I would buy another one. Fortunately, I think there will be many opportunities to buy. Burberry has lost its identity, and it will take time to get it back. The road to recovery will be long and bumpy, but today offers a glimmer of hope.

I Glencore (LSE: GLEN) share price also had a great day, jumping 5.12%. Like the rest of the mining industry, it has been hit by the economic downturn in China. Arriving hard in the US never helped. Excluding today's session, Glencore shares are trading 17.18% lower than last year.

They also look well-valued, trading at 11.4 times earnings. Glencore shares are hardly the powerhouse they once were, with a trailing yield of 2.56%. However, I hope for more. Last month, CEO Gary Nagle sounded the alarm “To receive shareholder benefits that increase, in addition to our cash distribution base, in February 2025”.

If China's economic situation worsens, Glencore's shares may take a hit again. Mining companies are always at the mercy of events, such as natural disasters or extreme weather. However I have seen the light and wish to buy more.

Blue-chip acquisition prospects

The same goes for the spirit giant Diageo (LSE: DGE). Like Burberry, I bought this after the board issued a profit warning, but I was hit with some bad news.

Diageo's share price is up 3.25% today but is still down 21.14% over 12 months (and 33.67% over two years).

Diageo has also been hit by the global recession, with the biggest damage done to its Latin American and Caribbean division, where sales have fallen. Diageo rushed into the premium drinks market, only to lose out as cashiers traded to cheaper local rivals.

Today, it trades at 18.93 times earnings, which is more expensive than both Burberry and Glencore, but cheap by Diageo's standards. The yield is 3.12%.

My concern is that we may be seeing a further shift in alcohol behaviour, with Gen Z drinking less. But I think there will be enough drinkers to drive sales, once the global economy improves. I already have a large position in Diageo, otherwise I would have bought more today.