Perpetual & apos;s Woodford buys M&S

Perpetual's Neil Woodford has just bought into Marks & Spencer for the first time in his career as a fund manager. He now has 1.3% of the Higher Income unit trust in the stock as a recovery play although his colleague Stephen Whittaker does not own any for his UK Growth fund. Woodford said: "I have never owned M&S until recently. I have always believed it was massively overvalued. Its share price recognises this fact and is now 20% of its market peak." Woodford believes the company is beginning to turn around its fortunes and is more robust than the stock market as a whole believ...