Woodford: 'good grounds' to believe market has bottomed

Invesco Perpetual guru Neil Woodford says there are positive signs the UK stock market has already r...

Invesco Perpetual guru Neil Woodford says there are positive signs the UK stock market has already reached its bottom. The manager's cautiously optimistic stance is driven by his view the sharp UK and global market falls late last year has already discounted the worst. Woodford believes there is "very good value" in a number of sectors, highlighting pharmaceuticals, utilities and tobacco. "Overall UK equity market indices are now lower than ten years ago and I think there are now good grounds for thinking the overall market has bottomed," he says. "The best value lies in companies t...