Neil Woodford's still gloomy

Global stock market may be up. But one of Britain's top fund managers Neil Woodford is still gloomy on the world economy, says James McKeigue.

Global stock markets might be up but Neil Woodford, one of Britain's most successful fund managers, is still feeling gloomy about the world economy. Key indices like the FTSE 100 and the S&P 500 are up around 10% since June. But in a recent note to investors Woodford says the recent market rally has done little to change his outlook.

"As we have gone through 2012, it has become clear that the economic headwinds have increased in strength rather than receded the eurozone crisis has rolled on and become more intense while the US economy, which grew rapidly throughout the winter, has slowed through the spring and into the summer."

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.