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Woodford points to market low

Invesco Perpetual income guru Neil Woodford believes that the credit crisis is nearing its lowest point and that there a number of opportunities appearing in the market.

Speaking on Monday this week, Woodford said that although a number of businesses are likely to find it hard in the next two years he is confident that those that make it through are likely to do so in good shape.

While he remains negative to cyclical and consumer facing stocks, Woodford said the likes of tobacco, pharmaceuticals, telecoms and to an extent the oil sector all represent good opportunities for investment.

He said: “I am still very optimistic about the cash resilience of those businesses, the asset resilience of those businesses and their dividend paying potentials. So those are four sectors that we are very keen on and where we have substantial weightings currently and expect them to do well over the next three to five years.”

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