Woodford takes defensive stance on troubled UK market for 2008

Invesco's Neil Woodford is taking a cautious view on the UK economy for 2008 as he sees chances of re...

Invesco's Neil Woodford is taking a cautious view on the UK economy for 2008 as he sees chances of recession in both the UK and the US increase. The manager is most concerned over companies in sectors which are financially geared and reliant on the consumer economy. "Some of these problem have begun to be priced into stocks in these vulnerable sectors, but it is too soon to judge the extent of the correction and what impact it will have on the profitability of companies facing difficulties," he said. Woodford thinks the overvalued commercial property sector is beginning a process of co...