Construction to benefit from interest in value

Basic materials companies have benefited from the swing in market sentiment towards value stocks but returns from the engineering sector remain down. The FTSE engineering index is down 19.13% for the 12 months to 30 November, compared to a fall of 4.59% in the FTSE All-Share index. Carl Stick, investment manager at Rathbones says: "The past 10 months, since the technology boom and bust have seen a switch from high growth sectors of the market to value ones on both sides of the Atlantic." In particular, construction stocks have had a good year and have benefited from the move by investors...