UBS: Global Equities Face Elevated Risks

2:30 AM ET Wed, 1 Aug 2012

"On a long-term view there clearly is value, we believe, in equities, having said all that we have a slightly defensive stance tactically on equities because of the on-going rolling crisis that we see in the euro zone, obviously all eyes are on Draghi for Thursday." Nick Nelson, global head of equity strategy at UBS, told CNBC.