Budget u-turns spark turnaround for stocks

Markets endured another rollercoaster ride last week as concerns over inflation and political upheaval triggered more sharp gyrations between gains and losses. Despite the wild ride, most markets ended the up in positive territory, including the blue-chip S&P 500 and technology focussed Nasdaq indices which gained 1.8% and 1.3% respectively.

Close to home, the furore over the mini-budget overshadowed everything and the dismissal of its architect, Kwasi Kwarteng, drove a strong rebound in UK government bonds and the pound. 10-year gilt yields, which move inversely to price, fell by 0.5% in just one week.

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.

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