Risks to the market rally are rising; oil stocks a good bet: Chris Wood

Energy-related stocks remain the best hedge against a Ukraine-triggered spike in energy / oil prices, Wood said

Risks to the rally in the global equity markets – especially arising from geopolitical shocks – are rising, wrote Christopher Wood, global head of equity strategy at Jefferies in his recent note to investors, GREED & fear. This, he wrote, can see oil prices climb higher going ahead.

"GREED & fear is not just referring to the ongoing escalating tensions between US and China, but also the growing likelihood that markets start to react to news flow on Ukraine again, having essentially ignored the conflict for the past several months. Here the concern is again the increasing threat of escalation,"