UBS Global Cuts India, Euro Zone Stocks on High Oil Sensitivity

UBS Global Wealth Management downgraded Indian and euro zone equities, warning their sensitivity to elevated oil prices makes them more vulnerable if the Middle East conflict drags on.

“It might be very difficult to reach a final conclusion” on Iran war in a very short period of time, Suresh Tantia, a strategist for Asian equities at the wealth manager said on Bloomberg TV. He said the money manager downgraded euro zone equities and Indian stocks to neutral this morning.