Global stocks bounce back

Global stocks ended a torrid run and climbed higher last week on expectations that weakening economic data will deter central banks from raising interest rates too aggressively. US markets led the gains with the blue-chip S&P 500 and technology focussed Nasdaq indices returning 6.1% and 6.7% respectively.

Chinese (+2.6%) and Hong Kong (+3.1%) stocks also had a good week, lifted by Shanghai’s city leader declaring victory against Covid. For the first time in two months of lockdowns and restrictions in China’s economic hub, no new infections were reported over the weekend.

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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