Transport very attractive with above average yield

The strength of sterling against the euro has caused problems for many companies but one sector tha...

The strength of sterling against the euro has caused problems for many companies but one sector that has been largely immune from the adverse affects of a strong pound is transport. Companies in the sector obtain most of their earnings domestically so have no exposure to currency risk. Alex Crook, fund manager at Henderson Investors, says the sector should not be classified as old economy. He adds: "It is not like the engineering sector which was adversely affected by the market favouring new economy over old economy. The sector has recently gone through a bad patch in general which was...