Stocks to watch: Nio, UOB

THE following companies saw new developments that may affect trading of their securities on Friday (Sep 6):

Nio : The Chinese electric-vehicle maker narrowed its Q2 loss for FY2024 by 16.7 per cent to 5.05 billion yuan (S$926.6 million) on higher sales. In Q3, Nio expects to deliver more vehicles, which would represent an over 10 per cent quarter-on-quarter growth. It also expects higher revenue in the next quarter. Class-A ordinary shares of Nio closed 0.9 per cent or US$0.04 higher at US$4.36 on Thursday, before the results were announced. 

UOB : The bank said on Friday it priced £750 million (S$1.3 billion) in three-year covered bonds due 2027. The bonds, which will be issued under its US$15 billion global covered-bond programme, have a coupon rate of the sterling overnight index average rate plus 53 basis points. Shares of the counter closed 0.3 per cent or S$0.10 higher at S$31.73 on Thursday, before the announcement.