The UE series were Peugeot's basic touring models. Essentaialy they were dressed-up versions of the UO series, using the same frame and components but with the addition of a rear rack, fenders and a lighting system.
The UO9/UE9 were 3rd from the bottom of the lightweight line-up. They were basically a UO8/UE8 with the addition an aluminum, cotterless crankset, to save sone weight The UO8 was probably the most popular bicycle of the 1970s bicycle boom. These bicycles make good commuters, epecially the UE series with their brazed-on tabs for the rear rack, generator and eyelets for fenders. It's unfortunate the previous owner stripped these parts off the bicycle.
I haven't ridden one for quite a while, so I'll let JOhn E. post eloquently on the characteristics of his UO8.