Fidelity's income star Clark: Why you should avoid BP and Shell

Fidelity's Michael Clark has warned against buying into BP and Shell amid a dwindling oil price and ongoing issues for both businesses.

While both BP and Shell used to dominate UK income portfolios, BP's Macondo disaster hammered the stock in 2010 and caused many investors to rethink their investments in the oil majors. Shares in BP have long since recovered from lows around 300p, after they more than halved following the oil spill off the coast of the US. However, they remain well below previous highs above 600p, having traded below 500p for the last 12 months. Shell has predictably fared better - from a three-year low of £15.26 seen back in 2010, it has seen significant gains. Shares hit a peak of £24.89 last Jan...