{"id":38313,"date":"2026-03-25T06:11:19","date_gmt":"2026-03-25T06:11:19","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/38313\/"},"modified":"2026-03-25T06:11:19","modified_gmt":"2026-03-25T06:11:19","slug":"use-market-bounce-to-buy-defensive-markets-ubs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/38313\/","title":{"rendered":"Use market bounce to buy defensive markets: UBS"},"content":{"rendered":"<p>Monday&#8217;s relief rally in response to a delay to U.S. strikes on Iranian energy infrastructure offers an opportunity for investors to rotate into defensive assets, according to UBS analysts. UBS says it remains &#8220;positive&#8221; on equities overall but the bank has now issued a downgrade on European and Indian equities, both of which it now rates as &#8220;neutral.&#8221; Instead, investors should &#8220;use the bounce to diversify excess exposure to at-risk equity markets, in favor of structural growth and defensive markets,&#8221; UBS wrote in a note published Tuesday morning. UBS analysts said European equities are pro-cyclical and particularly sensitive to higher oil and gas prices, owing to the bloc&#8217;s lack of energy self-sufficiency. Higher energy prices could also undermine a recovery in manufacturing, it added. The analysts also see a particular vulnerability to energy price shocks in India, which is a significant importer of foreign oil, liquefied natural gas and liquefied petroleum gas from the Middle East. &#8220;Higher energy prices look set to widen the current account deficit, add to fiscal pressures, and slow growth,&#8221; they wrote. Swiss stocks show resilience By contrast, UBS said Swiss equities offer less exposure to energy disruptions at an attractive valuation point after falling more than 10% since the start of the conflict. Outside of equities, UBS said investors should use the recent gold sell-off to gain exposure to the yellow precious metal. &#8220;Over the medium term, we would still expect gold to rally substantially if geopolitical uncertainty remains high while interest rate expectations come down,&#8221; wrote UBS. &#8220;We continue to view gold as an effective long-term portfolio hedge and forecast higher prices ahead.&#8221; Other analysts have also flagged potential contagion risks around underlying exposures to the Iran war. Last week, MSCI published a note highlighting emerging Asian markets as the most vulnerable to oil-supply disruption through the strait .<\/p>\n","protected":false},"excerpt":{"rendered":"Monday&#8217;s relief rally in response to a delay to U.S. strikes on Iranian energy infrastructure offers an opportunity&hellip;\n","protected":false},"author":2,"featured_media":38314,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[129],"tags":[22362,20588,20589,2857,166,18,191,12213,22365,22366,9182,12211,231,22363,2046,22364,223,880,12210],"class_list":["post-38313","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ubs","tag-gc26j","tag-lco26q","tag-ng26j","tag-breaking-news-markets","tag-business-news","tag-donald-trump","tag-india","tag-invesco-db-oil-fund","tag-ishares-gold-trust","tag-ishares-msci-india-etf","tag-ishares-msci-switzerland-etf","tag-lp","tag-markets","tag-msci-inc","tag-oil-and-gas","tag-spdr-gold-shares","tag-ubs","tag-ubs-group-ag","tag-united-states-oil-fund"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116288335620157811","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/38313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=38313"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/38313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/38314"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=38313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=38313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=38313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}