Trending tickers: Tesla, Nvidia, Tencent, Fresnillo
The latest investor updates on stocks that are trending on Monday
Tesla (TSLA)
Tesla saw its stock pull back 1.9% on Friday, but looked set to stabilise on Monday as the price war for the electric car market intensifies.
Over the weekend, Elon Musk's company cut prices for its model Y, S and X in the US by $2,000 (£1,617). It also slashed prices in China for the Model S, X, 3 and Y and reduced prices in Europe.
Read more: FTSE 100 LIVE: European stocks rise and oil slides amid easing geopolitical tensions
The cuts come following reports of declining global deliveries in the first quarter of the year. Last week the company also said it would set out to reduce its headcount by 10% — or about $14,000 jobs, with staff cuts confirmed in China.
Nvidia (NVDA)
Nvidia fell foul of a broader tech rout on Friday, falling 10% as investors smelt blood in the water for the sector. Investors have headed for less risky assets amid macroeconomic uncertainty and wavering bets for early interest rate cuts for major economies.
Nvidia lost around $200bn on Friday, spelling its worst day since March 2020.
Read more: UK economic forecast predicts interest rates to fall to 4.5%
Chip companies have been supercharged in recent months by investor bets on the tech behind artificial intelligence (AI). Other beneficiaries of this boom, such as server company Super Micro Computer (SMCI) also pulled back on Friday.
Tencent (0700.HK)
Chinese social media firm Tencent rallied in Monday trade as it announced the rollout of out one of the year's most anticipated mobile games, Nexon's Dungeon and Fighter Mobile, earlier than expected.
The shares saw their biggest one-day bump since February as it set a date of 21 May for its release.
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Shares rose 5.7% by the close in Asia.
Fresnillo (FRES.L)
Miner Fresnillo was among the top fallers in the FTSE 100 (^FTSE) on Monday, pulling back following a wild week for commodities. Last week, global markets reacted to worsening tensions between Iran and Israel, as news of airstrikes and retaliatory attacks worried supply chains.
On Monday, Fresnillo lost 2.2% in early trade ahead of an investor production report which is due out on Wednesday.
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