Value stocks rising due to tech sector concerns

Value stocks continue their strong run following the correction in technology stocks in March. Mick Brewis, head of US department at Baillie Gifford, says: "To some extent it is an inverse of the correction of the highly valued technology stocks. Value stocks are seen as a safe haven." James McLellan, director, US equities, at Clerical Medical, agrees: "The S&P 500 has been quite flat this quarter, it has gone down 0.5% in US dollar terms but value sectors have performed well." He points out that such traditionally defensive sectors as consumer staples, basic materials and transport have...