It has been a strong year for the FTSE 100. The index is up over 7% year to date. During this time, it has reached new record highs, peaking above 8,400 points at stages.

But not all its constituents have had a prosperous 2024. In fact, a handful of stocks have taken a beating.

Two Footsie players I’m watching are Burberry (LSE: BRBY) and BP (LSE: BP.). If I had some spare cash, they’re two stocks I’d take a closer look at for my portfolio today.

British titan

Let’s start by breaking down Burberry’s performance. The business needs no introduction. Yet while the fashion retailer is associated with quality, its share price performance this year has been far from that.

It has been the FTSE 100’s worst performer in the last year. During 2024, it has lost 57.4% of its value. It’s down a staggering 71.9% in the last 12 months.

The main reason for its fall has been multiple profit warnings, which has investors concerned. In its most recent update, Burberry said it now expects to post an operating loss in its first half. The business now faces an uphill battle to turn itself around.

But with its shares trading at a 15-year low, could now be a smart time to swoop in? Burberry stock looks dirt cheap. It trades on a price-to-earnings (P/E) ratio of just 8.1. For comparison, its long-term historical average is around 22.

On top of that, the business has made vast changes as it works to reverse its fortunes. It parted ways with former CEO Jonathan Akeroyd and replaced him with Joshua Schulman, former CEO of fashion behemoth Coach. Alongside that, management has laid out plans for cost savings across the business.

Burberry’s turnaround won’t be quick. And it won’t be easy. However, I reckon now could be a shrewd time to consider the British stalwart.

Oil giant

Oil and gas powerhouse BP has fared slightly better than Burberry this year. Even so, its share price has still taken a 14.3% hit.

Its recent decline can be pinned down to falling oil prices. The BP share price tends to mirror the price of oil. When it’s booming, as was the case in 2020, the stock can soar. Of course, like now, the reverse can happen. That’s a risk with BP, it’s a cyclical stock.

But they say every cloud has a silver lining. The falling share price translates to a higher dividend yield. Its payout now stands at 5.8%, way above the FTSE 100 average of 3.6%.

To add to its chunky yield, the business has also committed to buying back $14bn worth of shares between last year through to the end of 2025. It’s on track to buy back $7bn this year, so it looks in good shape to achieve its target.

Another clear threat to BP is the transition to renewable energy. However, it’s predicted that demand for oil is actually set to rise over the next decade. That’s great news for the business. BP also looks like a steal today, trading on a forward P/E of just 6.5.