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UBS has decided to maintain a selective stance on UK equities due to a recent shift towards risk-off sentiment in the market. This cautious approach highlights concerns regarding economic instability and inflationary pressures in the UK. As a result, UBS is focusing on sectors and companies that can withstand turbulent economic conditions. The article suggests that investors should be more discerning in their equity picks. Overall, the message is one of caution with opportunities identified in defensive stocks.