UBS Wealth Management chief investment officer Alexander Friedman has said that the firm expects company performance in the US and the Eurozone to drive equities in those regions higher in the coming months.
Friedman said UBS WM has increased its overweight position in equities, with a preference for the US and the Eurozone in anticipation of earnings growth that will drive prices higher. He said the firm would be even more positive on Eurozone equities if earnings improve over the coming 2-3 months. "If the Eurozone recovery plays out as we expect, the region's equities have potential long-term upside of 20-30%," he said. On UK equities he said that the firm has reduced the scale of its underweight position due to tentative signs of stabilising earnings momentum. The firm said inv...
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