Three stocks offering growth and income

Buy stocks that exhibit organic growth, diversified revenues and robust balance sheets, says professional investor Charles Luke. Here, he tips three such stocks to put in your Isa.

Over the past couple of months, concerns over European sovereign debt and its implications for the banking system have eased. Actions taken particularly by the European Central Bank have eased liquidity concerns and improved confidence.

However, there are still reasons to remain concerned as a convincing vision for the future of the eurozone has yet to be formulated. Furthermore, the requirement to reduce debt means growth is likely to remain muted in mature markets due to austerity measures and restricted access to credit.

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Charles Luke is manager of the Murray Income Trust (LSE: MUT).