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2 UK shares I’ll buy if stock markets crash!

UK share prices have continued to trend lower. And there are many reasons why a full-blown stock market crash could soon be upon us, from a continued rise in Covid-19 cases to signs of runaway inflation.

I won’t be running for the hills if stock markets crash, though. As a long-term investor I’ll be busy dip-buying if prices collapse. Here are a couple of great British stocks I’d be looking to buy.

A UK airline share on my radar

I’ll aim to snap up Wizz Air (LSE: WIZZ) shares if another stock market crash happens. Rising Covid-19 infection rates pose a problem for the budget airline, naturally. It means that travel restrictions in its key European markets might last longer or even return in some cases, severely disrupting the airline industry’s recovery.

But as someone who invests for the long term, the threat of a longer-than-expected rebound doesn’t put me off. First off, Wizz Air has one of the strongest balance sheets in the business (with cash on the books of €1.7bn as of June). It also has significant opportunities to strengthen its position in the low-cost segment following the Covid-19 crisis. Rumours abound that easyJet just knocked back a takeover attempt from the Hungarian airline.

I believe the long-term outlook for the airline industry remains extremely bright. Just today Boeing increased its forecasts for aeroplane demand for the next 20 years to 43,610. That’s up 500 from the aviation giant’s estimates made last year. And I think Wizz Air’s one of the best airline stocks to buy owing to its vast exposure to fast-growing Central and Eastern European markets.

Another prime target if stock markets crash

I’d also buy Smith & Nephew (LSE: SN) shares if stock markets crash again. I think profits here could soar as revenues from emerging markets recover.

Demand for its artificial limbs and joints and wound management products was rocketing before the public health emergency took hold. And sales are shooting higher again as non-essential surgery rates rebound. Underlying revenues were up 40.3% in the three months to June. This astonishing growth also reflects Smith & Nephew’s leading position in the sector in which it operates.

Sales haven’t been quite so electrifying in the FTSE 100 firm’s developing markets of late. Underlying sales in these regions rose 16.2% between April and June versus 46.8% in the UK share’s so-called established markets. This is because of high Covid-19 rates in key markets like India, Latin America, and the Middle East. It’s also due to unfavourable distributor purchasing patterns in China ahead of the government’s new tendering programme.

While these problems could persist, I think the prospect of soaring healthcare investment in these far-flung regions could still make Smith & Nephew investors huge returns in the years to come. This healthcare giant will be near the top of my shopping list in the event of another stock market crash.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Smith & Nephew and Wizz Air Holdings. 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.

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