Yahoo Finance Trending tickers: Alibaba | Brent crude | Ocado | Reliance
The latest investor updates on stocks that are trending on Monday
Alibaba (BABA)
Signals that dark regulatory clouds are partially clearing for China's platform tech businesses sent Alibaba stock up 8% on Monday.
Tencent (TCEHY) also rose 4% in Hong Kong. This was sparked by a $984m (£768m) fine against Ant Group, in which Alibaba owns a 33% stake.
The People's Bank of China (PBOC) said on Friday that the biggest issues it sees in tech businesses had been solved, and those in charge of regulating will now shift focus to overall regulation of the industry, rather than just on specific businesses. Scrutiny had begun over two years ago after Ant Group's IPO was abruptly shelved.
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Alibaba said it would move to buyback shares after the fine was announced against the fintech — a move which values the business at a 75% discount to its IPO valuation.
Ocado (OCDO.L)
Online food retailer Ocado's stock sank more than 3% in early trade in London as M&S (MKS.L) bosses professed they are "unhappy" with the pair's partnership.
M&S chairman Archie Norman told shareholders last week he felt there is "work to do" as losses pile up at Ocado.
The grocer said it has posted a £501m loss earlier this year — a £177m increase from a year earlier. These losses mean Ocado will bring in around 40% less than originally projected in performance payments from M&S, according to The Times.
Oil (BZ=F)
Oil has had an interesting few weeks as markets brace for more news on macro data and decisions on production cuts from major world powers. Supply cuts have supported prices so far, and traders are hoping data coming out of China will signal renewed demand which will push prices up.
"So far, it is very clear that there are more sellers in the market who find every opportunity to sell oil whenever they see that weaker fundamentals are emerging, and to counterbalance that, OPEC is left with no other choice but to cut oil supply more," said Naeem Aslam, chief investment officer at Zaye Capital Markets.
Read more: Stocks that are trending today
"This week, we believe that oil prices are more likely to consolidate, while investors hope to see a lower reading on the US CPI data, which would help Americans turbocharge economic activity,"
Brent crude was trading down around 0.9% by 8.50am in London on Monday, around $77.80 a barrel.
Reliance (RELIANCE.NS)
Reliance shares were coming in hot on Monday as the company mulls plans to list its financial services business and buy back shares trading in the gray market. The premium over the average price was 866 rupees apiece.
Watch: Alibaba stock soars amid China's Ant Group $1bn fine
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