UBS says stocks have 5% to 10% further to run, but watch out for this yield level


A sign of Swiss banking giant UBS is seen at a branch in Zurich on October 26, 2018.

Fabrice Coffrini | AFP | Getty Images

UBS Global Wealth Management sees 5% to 10% upside for global stock markets, with emerging markets, financials, energy stocks and small caps best placed to capitalize.

In a monthly investment call Tuesday, U.K. CIO Caroline Simmons said analysts had a particular preference for emerging markets in Asia and China in particular. She also backed cyclical and value stocks — those whose performance will coincide with economic recovery or those with valuations lower than their financial position would justify.

This is based on expectations that the economic recovery will…


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