UBS's latest missive on the European equity markets gives Ireland an "overweight" rating - jargon for advising clients to load up with Irish stocks. "Ireland was the most defensive European market" during the August market shake-out, they comment. On its list of "most preferred" stocks are AIB, CRH, and Smurfit. And the least preferred? Don't tell them in Baggot Street, but it's Bank of Ireland.