Tesla accelerate past Ford

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Monday, 3rd April: When it comes to electric vehicles, Tesla seems to be holding onto the title as the kingpin, which was supported by their Q1 update released over the weekend. Their first quarter deliveries leaped up 69% when compared to Q1 2015 to a quarterly record of 25,000 vehicles. As a result of this impressive performance, they have earned a market cap of $46.67bn, and consequently are now the second-largest U.S automobile producer by stock-market value, pushing ahead of its predecessor of 100 years, Ford. They overcame a few hurdles last year with regards to production challenges and having to dig deep into their pockets in preparation for the launch of Model 3, which came close to putting the electric luxury car maker in a sticky situation before Chinese giant Tencent Holdings Ltd assisted by buying a 5% stake for approximately £1.4bn. The first quarter has been good for Tesla, as they’ve also shown us an impressive 30% jump in their share price during 2017 so far, and they remain confident for what the remainder of 2017 will entail, including the release of the awaited Model 3.

The FTSE100 opened 0.32% higher at 7,322 and remained relatively flat throughout the day, but ended the day around -0.55% lower at 7,282. Leading was the provider of software solutions, Micro Focus International, up 2.7% after they released a trading update on the financial performance of Hewlett Packard Enterprise Software, which they acquired back in September 2016 for around £6.6bn, and the results of which have surpassed some investors’ expectations. At the bottom end of the FTSE was media mogul ITV, dropping 2.7% after rumours of a potential takeover from the parent of Virgin Media, Liberty Global, were confirmed to be just that, a rumour.

Meanwhile, as some seem to be taking a suddenly positive view and approach to Brexit after May’s appearance last week regarding the formal divorce papers, Gibraltar have expressed their concerns over being treated as the children of the divorce and Tusk as the cheated husband who is taking his anger out on them. Chief Minister of Gibraltar, Picardo, has accused the EU of using the British Overseas Territory as a “bargaining chip in Brexit negotiations” after they gave Spain the opportunity to veto over Gibraltar’s involvement with the EU after Britain leaves, even though Gibraltar supported to stay during the referendum. Some have even raised concerns over this becoming a military issue if the separate parties fail to negotiate.

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