Woodford: Eurozone on verge of renewed recession

Neil Woodford has delivered a blow to European markets' positive start to the year, warning the eurozone is on the brink of entering recession.

In November, Woodford said he expected Europe to enter a recessionary environment at some stage this year. He has now voiced concerns the eurozone is on the cusp of entering a period of negative economic growth. The Invesco Perpetual manager, who heads up the group's £10.5bn High Income and £8.3bn Income funds, also warned UK economic growth could disappoint consensus forecasts this year. "The increasingly tough economic outlook is not a surprise to us and we believe the eurozone is on the verge of a renewed recession and there are downside risks to forecasts of UK economic growth," s...