Invesco Perpetual fund manager Neil Woodford believes the UK and US stockmarkets are bottoming. W...
Invesco Perpetual fund manager Neil Woodford believes the UK and US stockmarkets are bottoming. While the UK economy faces many challenges, such as the level of debt, Woodford says market conditions in the UK and US appear to be reaching a floor. Woodford says: "I think we have seen a bottom in the market. However, one has to be very careful about specifics." He is currently identifying opportunities in defensive areas including the utilities, tobacco and pharmaceuticals sectors. As a result, he has been adding to his positions in AstraZeneca and GlaxoSmithKline as he believes there...
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