Trending tickers: Bitcoin, ARM, Tui, Tripadvisor

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo

The price of Bitcoin briefly rose past the $50k mark on Monday. (Reuters / Reuters)

Bitcoin is back in the news, as its price briefly rose past the symbolic $50,000 (£39,449) mark on Monday, and maintained that level into the morning on Tuesday.

It hasn’t hit these levels since late 2021, with many inflows attributed to the recent approval of spot bitcoin ETF offerings and the anticipated Bitcoin halving event in April.

It was trading around 4.2% higher by late-morning in London, up to just under $50,000.

Ethereum (ETH-USD), the second largest cryptoasset by market cap, was also trading around 7.6% higher.

Chipmaker ARM’s stock continued to rally, popping nearly 30% in US trading hours on Monday, after it reported third-quarter earnings that beat expectations last Wednesday and upped its guidance for Q4.

Read more: FTSE 100 LIVE: European markets knocked as UK wage data fuels inflation worries

The company said it expects at least $850m in revenue for this quarter, exceeding analyst forecasts.

The strong outlook triggered a surge in Arm’s stock, with shares jumping nearly 50% in total since the earnings release.

Tui is one of the winners of the FTSE 250 on Tuesday, clocking gains of more than 3% after a set of results that impressed investors. The budget travel company swung to a surprise profit and record revenues in its Christmas quarter.

News emerged that the dual-listed company could also see a potential London exit in the coming months, as investors push for a single listing in Frankfurt.

Tripadvisor (TRIP)

Elsewhere in travel, agency Tripadvisor has formed a committee to explore a sale of the business. Stock is trading around 11.8% higher in pre-market.

The business announced the formation of a special committee comprised of independent directors of the board of directors of Tripadvisor. The mandate of the special committee is to evaluate any proposals that may be brought forward for a potential transaction, the company said.

Watch: Bitcoin rally has ‘room to run’ after $50K push: Strategist

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