Investors sought draw a line under the worst first half of the year for stocks in more than 50 years and start off the second half on the front foot. The blue-chip S&P 500 and technology focussed Nasdaq indices gained 0.8% and 2.0% respectively.
Most other global markets also got off to a positive start but Chinese stocks were notable outliers and fell on the threat of renewed Covid lockdowns in the world’s second largest economy.
Non-essential businesses were shuttered once again last week in Xi’an, home to 13 million residents in China’s northwest, to try to break the transmission of the highly contagious BA.5 Omicron subvariant. Similar restrictions are currently in place across 10 other cities as authorities remain steadfastly committed to President Xi Jinping’s zero-covid policy.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
