Where to put one’s money as a haven from future shocks, whether from Greece, China or an unknown unknown? I would favour the high yielders because this market, as I have said before, is all about income and this provides a degree of support at this level. Certainly such stocks have been among the best performers over the past 18 months or so.
Most of these have been suggested here before. National Grid, off 15¼p at 832½p, is still yielding well over 5 per cent. Its regulatory period stretches to 2021, which gives a strong, reliable earnings stream.
GlaxoSmithKline is seen by many as the less exciting of the two big quoted pharmaceuticals companies, and the rival AstraZeneca certainly has the more ambitious growth profile.