Palantir (PLTR)

Data analytics software firm Palantir (PLTR) is due to release its fourth quarter earnings after the close of US markets on Monday.

Palantir (PLTR) rallied on the back of its third quarter earnings, which were released a day before the US election in November. The stock continued to surged following the election, becoming one of the stocks considered to be part of the "Trump trade", as investors bet on increased defence spending under Trump, which is a key part of Palantir's (PLTR) business.

Read more: FTSE 100 LIVE: European markets open lower after Trump tariff threat

The company has guided to revenue of between $767m (£623m) and $771m for the fourth quarter, as well as adjusted income from operations of between $298m and $302m.

In the third quarter results, Palantir (PLTR) raised its full-year revenue guidance to between $2.805bn and $2.809bn. The company also upped its adjusted income from operations estimate to between $1.054bn and $1.058bn.

Matt Britzman, senior equity analyst at Hargreaves Lansdown (HL.L), said that the "spotlight will be on Palantir's (PLTR) AI platform, with investors eager to see how it’s driving enterprise adoption and converting pilot programs into full-scale deals".

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Alibaba (9988.HK, BABA)

Major Chinese stocks were in focus on Monday after US president Donald Trump followed through with his promise to impose a 10% tariff on China, as well as 25% levies on Mexico and Canada, with these duties coming into effect on Tuesday.

Tech company Alibaba (9988.HK, BABA) was one stock that was trending, despite Chinese markets being closed for the lunar new year holiday, with its US shares down 2% in pre-market trading on Monday.

Read more: Pound, gold and oil prices in focus: commodity and currency check, 3 February

Susannah Streeter, head of money and markets at Hargreaves Lansdown (HL.L), said: "There is a glimmer of hope that a long-running dispute could be averted with a flurry of calls expected between Trump and the leaders of Canada and Mexico, with China also counting on talks.

"But what’s clear is that Trump's way of doing business is to sow seeds of chaos and unpredictability to gain domestic political wins."

Alibaba (9988.HK, BABA) has also been in focus over the past week, after it released a new version of its AI-model Qwen 2.5, claiming that it surpassed the DeepSeek-V3 model.

DeepSeek's AI advancements rattled tech stocks and markets more broadly last week, raising concerns about the level of spending in the space by US tech giants.

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TSMC (2330.TW, TSM)

Taiwan's Taiex (^TWII) index fell 3.5% on Monday, on the back of the tariffs announcements, led by a nearly fall in chipmaker TSMC (2330.TW, TSM).

The company is considered to be a bellweather for the semiconductor sector, as it is the world's largest contract chipmaker, manufacturing for the likes of Nvidia (NVDA).

Chip stocks, which are considered to be key beneficiaries of the AI-boom, sold off sharply last week following DeepSeek's updates.

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"The latest moves won’t do much to calm the high tensions which have hit the semi-conductor sector," said Streeter. "Companies like Nvidia (NVDA) rely on the production of chips from outsourced factories overseas, like China and Mexico – but many other parts needed to construct AI data centres could also be vulnerable to tariffs, given they are imported.

"China is a huge source of electrical imports into the United States - with everything from video consoles to phones and phones potentially affected by tariffs."

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Toyota Motor Corporation (7203.T)

Global auto stocks tumbled on Monday, with Japan's Toyota (7203.T) falling 5%, while Nissan (7201.T) was down nearly 6% and Honda (7267.T) plunged 7%.

In Europe, Germany's Volkswagen (VOW3.DE) fell more than 6% into the red and Milan-listed Stellantis (STLAM.MI) was down nearly 7%.

The car sector is among those that rely on exports to other markets.

Read more: Stocks that are trending today

Neil Wilson, analyst at TipRanks, said: "The question is whether this is the beginning of a damaging trade war or something less sinister.

"It seems from the selling pressure that the market underestimated Trump – not for the first time.

"But whether this is resolved in short order or drags out and spirals is unknown. If the tariffs stay in place it would mean a significant redrawing of trade terms and currencies will need to adjust to reflect that."

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Antofagasta (ANTO.L)

London-listed Chilean mining company Antofagasta (ANTO.L) was one of the biggest fallers on the FTSE 100 (^FTSE) on Monday morning, declining nearly 4%.

Fellow FTSE-listed miners Glencore (GLEN.L), Anglo American (AAL.L) and Rio Tinto (RIO.L) were also down on Monday, trading 2.5%, 2.2% and 1.6% in the red respectively.

Read more: Bank of England set to cut interest rates to 4.5% in first decision of year

Russ Mould, investment director at AJ Bell (AJB.L), said: "There was firmly a risk-off mood with investors. Tech stocks were on the scrapheap amid the prospects of rates staying higher for longer. Implied interest rate strength was also bad for real estate stocks, throwing cold water over the idea that we’re on a trajectory for cheap borrowing.

"Miners retreated as investors feared a pullback in economic activity and how that would hurt commodities demand."

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Other companies in the news on Monday 3 February:

L'Oréal (OR.PA)

Mizuho Financial (8411.T)

Hoya (7741.T)

Murata (6981.T)

NXP Semiconductors (NXPI)

Read more:

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