Yields on top stocks offer opportunity

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Yields on some UK and European stocks are currently at levels where it would look attractive to start putting money back into the markets, according to Allianz RCM's chief investment officer Europe, Neil Dwane.

"When it's darkest and smelliest and most toxic, that's when you can make the most money - and boy is it dark and smelly and toxic now," said Dwane at the International Investment Middle East Gulf Forum in Abu Dhabi. "Vodafone and BP are on yields of 6-7%, and it looks like a good place to start putting money back in," he added. "If you can get BP on a yield of 7%, why leave your money in a bank or building society yielding nothing? I can't call the market but it's a classic valuation signal when equities yield more than bonds." However, Dwane cautioned that the wider public may still b...

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