UBS Affirms Neutral Stance on UK Stocks, Emphasizes Earnings Growth Over Valuation Leverage
UBS retains a neutral outlook on UK equities, citing that the FTSE 100's impressive 22% return last year was largely concentrated among a small number of firms. The brokerage indicates that future stock market progress will rely principally on earnings growth rather than further multiple expansion amid persistent high bond yields. UBS forecasts mod…