Woodford adds three stocks to trust on price weakness

Invesco Perpetual's income stalwart Neil Woodford has initiated three new positions in his £915m Edinburgh investment trust, to take advantage of share weakness.

Woodford (pictured) has bought into Sanofi, Serco Group and Smith & Nephew following sharp fall in their shares. Over the past three months the FTSE All Share has fallen 10.5%, as the eurozone sovereign debt crisis continues to spook markets. Sanofi's share price has fallen 5% to 54.28p, Serco Group is down 7.8% to 520p, while Smith & Nephew has declined 6% to 593p over the three months to 1 June. The top performing manager has also topped up positions in Chemring and HomeServe. The new positions were revealed in the annual financial report for the Edinburgh investment company,...