Trending tickers: Tesla, Shell, UBS, Xiaomi

Tesla stock was trading about 1.3% down in premarket on Tuesday, following news it is hiking prices across a number of regions. (REUTERS / Reuters)

Tesla (TSLA)

Tesla stock was trading about 1.3% down in premarket on Tuesday, following news it is hiking prices across a number of regions.

In the US, the electric car maker hiked prices of its popular Model Y SUV across all three trim levels by $1,000 (£796). Tesla did the same in China, with the Model Y Long Range version rising by 5,000 yuan ($675) to 304,900 yuan, with the Performance version also rising by 5,000 yuan, to 368,900 yuan.

Both price hikes were expected, as the company had used price incentives to move vehicles before the first quarter came to a close on 31 March; Tesla’s US website had been warning buyers for weeks that prices would rise on 1 April.

Tesla also hiked the price of its Model Y in select regions in Europe by €2,000 in late March in a bid to incentivise sales.

Read more: Tesla stock slides following big Q1 delivery miss

Meanwhile, Tesla’s rivals in the US and China have been cutting prices to gin up demand in those markets. On Monday, Chinese EV maker NIO announced via its Weibo account a number of incentives like battery swap benefits, self-driving software subscriptions, and goodies like the NIO phone to get more buyers to buy its EVs. In addition, XPeng extended existing price cuts of its G9 SUV by 20,000 yuan ($2,700) through 30 April.

Shell (SHEL.L)

Shell was among the leaders of the FTSE 100 (^FTSE) on Tuesday morning, buoyed in part by rising oil prices as volatility continues in the middle east.

The stock price was up 2.2%, while brent crude (BZ=F) rose about 1.1%.

Read more: Stocks that are trending today

The move higher also comes as Shell heads to court. Tuesday will see the oil major's appeal against a climate ruling which had ordered it to further curtail its greenhouse gas emissions. In 2021, the district court in the Hague had said Shell must reduce carbon emissions by 45% before 2030 from 2019 levels.

This order had related to both the company's own emissions and the emissions of buyers and users of its products.

UBS (UBS)

UBS stock regained ground in premarket trade on Tuesday, after losses on Monday, as it announced a new share buyback programme of up to $2bn.

The scheme will begin on Wednesday 3 April, and builds on a $5.2bn buyback undertaken in 2022.

"As previously communicated, in 2024 we expect to repurchase up to $1bn of our shares, commencing after the completion of the merger of UBS AG and Credit Suisse AG which is expected to occur by the end of the second quarter," the bank said in a statement.

Read more: FTSE 100 LIVE: European markets rise as UK shop prices fall to lowest since 2021

"Our ambition is for share repurchases to exceed our pre-acquisition level by 2026."

Xiaomi (1810.HK)

Smartphone maker Xiaomi's foray into electric cars seems to have set off on a strong foot, as orders for its first vehicle topped estimates.

The news sent stock as much as 16% higher, before it closed about 9.2% in trade on Tuesday in Asia. The company said it had brought in orders of almost 90,000 cars in the first 24 hours after launch.

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City analysts had underestimated its potential popularity, with Goldman Sachs projecting orders of 100,000 in 2024, and Citigroup estimating full-year sales of 55,000 to 70,000 units. The current order book puts Xiaomi in the leagues of the likes of Tesla's Model 3.

Watch: Stocks close first trading day of Q2 2024 mixed

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