Global stocks lost ground for a second consecutive week as higher US government bond yields and more stresses in China’s property sector shook investor sentiment. The blue-chip S&P 500 and technology focussed Nasdaq indices fell 0.6% and 1.4% respectively.
Walt Disney (+4.9%) was the top performer in the S&P 500 on Thursday despite reporting a loss for the second quarter after it incurred $2.65 billion in one-off restructuring charges and content impairments relating to removing dozens of titles from its streaming platforms.
The entertainment giant revealed it had 146.1 million Disney+ subscribers, a 7.4% fall from 3 months earlier, after its Hotstar streaming service lost the rights to Indian Premier League cricket and 219.6 million subscribers including ESPN+ and Hulu.
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.