The first quarter of the year ended with a shortened trading week for investors before the long weekend for Easter, but that didn’t stop the major indices advancing on the week. The S&P 500 Index gained 0.5%, rounding out its strongest first quarter since 2019, whilst closer to home, the FTSE 100 rose 0.4%.
In a quiet week for news flow, the collapse of the Francis Scott Key Bridge in Baltimore gained a lot of attention, raising concerns over its economic impact due to its vital role in U.S. shipping and transportation.
The incident involved the 95,000-ton Dali, a container vessel under A.P. Moeller Maersk’s charter, which struck a support pillar of the bridge following an urgent distress signal. The resulting disruption to the supply chain has become a focal point of economic concern with port operations halted indefinitely.
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.
