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FACTBOX-U.S. winners and losers from trade tit-for-tat

Wed, 04th Apr 2018 21:12

(Deletes first half of Cisco statement from paragraph 13 aftercompany said the outdated portion was provided to Reuters inerror.) April 4 (Reuters) - China on Wednesday hit back at U.S.President Donald Trump's plan to impose tariffs on $50 billionof Chinese imports, proposing additional tariffs of 25 percenton 106 categories of U.S. goods, from soybeans to autos,chemicals and some kinds of aircraft. The trade tension brewing between the world's two largesteconomies hit global markets, with shares of industrialcompanies with exposure to Chinese markets, such as Boeing Coand Deere & Co, among the hardest hit. The following are some of the possible winners and losersamong U.S. companies and sectors: AUTO COMPANIES: * U.S. automaker General Motors Co urged the twocountries to engage in constructive dialogue over trade. Thecompany's stock fell as much as 3 percent before reversingcourse to close nearly 3 percent higher. * GM rival Ford Motor Co also lost as much as 3percent before rebounding to close 1.6 percent higher whileelectric carmaker Tesla Inc , which depends on Chinafor 17 percent of its revenue, fell as much as 5.8 percentbefore retracing losses to end up over 7.2 percent. Shares ofFiat Chrysler fell as much as 3.4 percent beforerecovering to end up nearly 2 percent. * Ford said it encouraged both governments to work togetherto resolve issues. BOEING & INDUSTRIALS: * Aircraft maker Boeing Co closed down 1 percent,weighing the most on the Dow Jones Industrial Average asdocuments from China's Ministry of Commerce and the U.S.manufacturer showed the move would affect some older Boeingnarrowbody models. It was not immediately clear how much thetariffs would impact its newer aircraft. * Boeing said it was assessing the situation while analystsfrom JP Morgan said the proposals from China looked to have beencalibrated carefully to avoid a major impact on the planemaker. * Fellow Dow component 3M Co lost as much as 2.4percent before rebounding to end 0.6 percent higher. * Farming equipment maker Deere lost nearly $10 pershare at its lowest. The company urged the two countries to worktoward a resolution to "limit uncertainty for farmers and avoidmeaningful disruptions to agricultural trade." The stock ended2.9 percent lower at $148.57. TECH MAJORS: * The S&P 500 technology sector , which has thebiggest revenue exposure to China among the benchmark's 11 majorsectors, dipped 0.5 percent before rebounding to end 1.3 percenthigher. * Chip stocks were among the worst-hit in the sector withIntel Corp and Nvidia Corp both falling beforeretracing losses to end narrowly higher. Broadcom Ltdended the day nearly flat at $236.99. China's position as anassembly hub for electronic devices makes it the biggestconsumer of semiconductors. * Cisco Systems Inc closed slightly higher at$41.20, but said it was "analyzing the impact of these tariffson Cisco and reviewing plans to minimize the impact on ourbusiness, our customers and our partners," company spokeswomanRobyn Blum told Reuters. WHISKEY * Brown-Forman Corp , the maker of Jack Daniel'swhiskey, slipped about 1 percent before recovering to close up1.3 percent to $54.71 after whiskey was singled out as the onlyspirit on which China planned to impose more tariffs. * The Distilled Spirits Council, a U.S. industry group,asked the United States and China to reach a resolution withoutsubjecting American whiskey to more tariffs, which it said wouldharm Chinese consumers, its hospitality sector and U.S. whiskeyexporters. The Council also said U.S. whiskey accounted fornearly 70 percent of the total U.S. spirits exported to China,by value, in 2017. COMMODITIES & CHEMICALS * DowDuPont Inc said its agriculture unit could beaffected by the escalating conflict, warning of price declinesfor soybeans, and a negative impact on U.S. farmers. Sharesclosed up about 0.6 percent at $63.69. * Grain traders Archer Daniels Midland Co and BungeLtd , which trade U.S. soybeans in China, were both off asmuch as 1.5 percent. Archer Daniels recovered to add 1.8 percentto $43.90, and Bunge gained 2 percent to close at $75.64. * The American Chemistry Council (ACC) - which counts Exxon , Chevron , Monsanto and others as itsmembers - urged the United States and China to come to anunderstanding. "Engaging in a trade war with one of ourcountry's most significant trading partners is not the answer,"said ACC Chief Executive Officer Cal Dooley. Exxon closed 0.2 percent lower at $74.87, and Monsanto alsofell 0.2 percent to $116.75. Chevron dipped 0.3 percent to$114.48. WINNERS * U.S. meat processor Tyson Foods Inc , meat exporterHormel Foods Corp rose on the prospect of a drop inprices of soybean - a key feedstock - following higher Chinesetariffs on U.S. exports. Tyson closed up 2.3 percent at $71.54,and Hormel ended the day at $35.87, a gain of 4.8 percent. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing byBernard Orr, Shounak Dasgupta and G Crosse)
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22 Dec 2015 19:16

UPDATE 2-Shell says BG takeover works with oil price in low $60s

* Shell cuts 2016 capex by extra $2 bln, operating costs by $3 bln * Savings will help keep dividend safe, Shell says * Expects to complete deal by Feb. 15 * Major shareholder Aberdeen Asset Management says supports deal (Recasts to focus on break-even price, adds shareholder

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22 Dec 2015 17:00

Major Shell, BG shareholder expresses support for $53 bln merger

LONDON, Dec 22 (Reuters) - Top 10 Royal Dutch Shell and BG Group shareholder Aberdeen Asset Management said on Tuesday it supported Shell's proposed $53 billion acquisition of its smaller British rival. "We're supportive of the deal from a strategic perspective. It makes a lot of sense to

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22 Dec 2015 16:54

LONDON MARKET CLOSE: Mining Sector Star Performer In London Rally

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22 Dec 2015 15:57

Shell sees more 2016 spending cut if BG deal goes ahead

LONDON, Dec 22 (Reuters) - Royal Dutch Shell said on Tuesday it planned to cut the 2016 capital spending following its proposed takeover of BG Group by $2 billion to $33 billion. The Anglo-Dutch company expected the $53 billion BG acquisition to be completed by Feb. 15 pending both companie

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22 Dec 2015 14:28

FTSE 100 movers: Heavily-weighted miners rally but ITV gives back gains

(ShareCast News) - London's FTSE 100 index was up 0.7% to 6,073.90 at 1440 GMT in holiday-thinned volumes, with many traders already away from their desks for the Christmas holiday. Heavily-weighted miners were the biggest gainers, with Antofagasta and Anglo American firmly in the black as Chinese c

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22 Dec 2015 12:10

LONDON MARKET MIDDAY: Oil Helps London Outperform But ITV Slips 1.6%

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22 Dec 2015 10:57

WINNERS & LOSERS SUMMARY: Warm Weather Hurting Next And M&S

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22 Dec 2015 08:49

BUZZ-Oil and gas cos: Brent off multi-year lows

** Oil stocks among top gainers in Europe as Brent prices edge away from multi-year lows on Tuesday on winter demand hopes ** Brent futures up 0.9 pct at $36.68 per barrel at 0824 GMT, off an 11-year low of $36.04 hit on Monday ** Tullow Oil and BG up 2 pct each, Shell gains 1 pct an

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22 Dec 2015 08:37

LONDON MARKET OPEN: Oil Stocks Claw Back Losses As Brent Stabilises

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21 Dec 2015 13:51

FTSE 100 movers: Glencore leads market on buy recommendation

(ShareCast News) - The FTSE 100 started the short week on a high with the index up 52.66 points (0.87%) to 6,105.08 by mid-afternoon Monday. It was also the first day that Worldpay, Provident Financial and DCC were trading on the blue chip market, replacing Morrisons, G4S and Meggitt. Glencore led

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21 Dec 2015 11:18

TOP NEWS SUMMARY: Shell, BG Shareholders To Vote On Merger In January

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21 Dec 2015 10:36

UPDATE 1-Shell, BG shareholders to vote on merger in January

(Updates throughout) LONDON, Dec 21 (Reuters) - Royal Dutch Shell and BG Group shareholders are expected to vote on the merger of the two companies on Jan. 27 and 28, respectively, the firms said on Monday. Shareholder approval is the final remaining hurdle to clear Shell's takeover o

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21 Dec 2015 07:46

BG and Shell closing in on merger

(ShareCast News) - BG and Royal Dutch Shell will on Monday seek High Court approval to hold shareholder meetings over their £55bn merger following satisfaction of the final pre-condition to the recommended combination and with the unanimous approval of both boards. Following High Court approval, the

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21 Dec 2015 07:46

Shell And BG Group Shareholders To Cast Decisive Votes In January

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18 Dec 2015 08:49

BG, Energy Transfer get approval for U.S. Lake Charles LNG project

LONDON, Dec 18 (Reuters) - BG Group and Energy Transfer Partners have gained approval from the U.S. energy regulator for their liquefied natural gas (LNG) production and export plant in Lake Charles, Louisiana, the companies said. The go-ahead is a key milestone for the project, one of an a

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