Emerging stocks back in favour as UBS, Morgan Stanley close underweights

LONDON- UBS said on Monday it was closing its underweight to emerging market equities and moved its overall position on equities to neutral.

Separately, Morgan Stanley also said it was upgrading its stance on emerging market equities to equal weight from underweight on a better global growth outlook outside the U.S..

(Reporting by Tom Arnold, editing by Karin Strohecker) ((Tom.Arnold@thomsonreuters.com; +442075428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))