Coinbase, Tesla, AstraZeneca, Metro Bank and SoftBank

The rally in investments tied to Donald Trump’s US presidential election win has continued to dominate markets.

Shares in cryptocurrency exchange platform Coinbase surged to their highest point in nearly three years on Monday, closing up nearly 20% at $324.24 (£252.93) per share.

Read more: FTSE 100 LIVE: European stocks fall as UK wage report bolsters case for rate cut caution

This has been fuelled by the rise in bitcoin (BTC-USD), which has continued to reach fresh highs, nearing the $90,000 mark in early trading on Tuesday.

The rally has lifted other cryptocurrencies and stocks linked to the digital tokens, on expectations of a more favourable regulatory environment for the market under Donald Trump, following his US election victory last week.

Trump had pledged during in his campaign to make the US “the crypto capital of the planet” and to accumulate a stockpile of bitcoin.

Investors have also continued to pile into electric carmaker Tesla as another post-election “Trump trade”, following CEO Elon Musk’s support for Trump’s campaign.

Tesla shares closed Monday’s session up nearly 9% and were up 2% in pre-market trading on Tuesday morning.

The jump in shares over the past week has taken the company’s market valuation above the $1tn mark.

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

In a note on Monday, Wedbush analysts led by Dan Ives, said: “We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a game-changer for the autonomous and AI story for Tesla and Musk over the coming years.”

Meanwhile, hedge funds holding onto bets against the stock have lost massively over the past week.

On Monday, Tesla shorts were down $8.72bn in mark-to-market losses since 4 November, according to data analytics firm S3 Partners.

UK-listed drugmaker AstraZeneca lifted its full-year sales and profit guidance, on the back of strong sales and revenue figures reported in its latest results released on Tuesday, though shares were little moved by the news.

AstraZeneca posted a 20% increase in product sales in the third quarter to nearly $13bn, which contributed to an 21% rise in total revenue to $13.6bn.

The company reported a 27% increase in core earnings per share for the quarter to $2.08.

As a result, AstraZeneca said it was now expecting “high teens percentage growth” in total revenue and core earnings per share for the full-year 2024 on a constant exchange rate basis.

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