Crooke expects imminent sentiment shift

Manager predicting sentiment shift towards defensive stocks with solid dividends

Hendersons' Alex Crooke believes a change in sentiment is overdue, leading to a switch away from commodities towards defensive companies with solid dividends. He has maintained a defensive position on the Henderson High Income trust, taking advantage of stocks harshly treated by the market. Overall, Crooke said there has been no easing in either of the issues driving share prices lower, namely rising inflation and the credit crunch. "It still appears early to be buying back oversold consumer-related stocks and we are wary of the very high apparent dividend yields on many," he added. ...