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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(Deletes first half of Cisco statement from paragraph 13 aftercompany said the outdated portion was provided to Reuters inerror.)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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12 Mar 2018 11:00

RPT-FOCUS-Corn as cash: Brazil's bartering farmers raise risks for Canada's Nutrien

(Repeats with no changes to text) By Rod Nickel and Ana Mano WINNIPEG, Manitoba/SAO PAULO, March 12 (Reuters) - Taking a page from its aggressive growth in

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12 Mar 2018 05:00

FOCUS-Corn as cash: Brazil's bartering farmers raise risks for Canada's Nutrien

By Rod Nickel and Ana Mano WINNIPEG, Manitoba/SAO PAULO, March 12 (Reuters) - Taking a page from its aggressive growth strategy in the United Ltd

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8 Mar 2018 12:18

COFCO, ADM boost Brazil grain exports, close in on Cargill

By José Roberto Gomes SAO PAULO, March 8 (Reuters) - China's COFCO International and U.S. Archer Daniels Midland Co (ADM) of a

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30 Jun 2016 22:36

UPDATE 1-Brazil's Petrobras to name Silva to new top strategy post - sources

(Adds quote from source, background) RIO DE JANEIRO, June 30 (Reuters) - Brazil's state-led oil company Petroleo Brasileiro SA plans to appoint Nelson Silva, the former head of BG Plc in Brazil, as chief of strategy and management, a newly created position on its senior management committe

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30 Jun 2016 19:02

Brazil's Petrobras to name Silva to new top strategy post

RIO DE JANEIRO, June 30 (Reuters) - Brazil's state-led oil company Petroleo Brasileiro SA plans to appoint Nelson Silva, the former head of BG Plc in Brazil, as chief of strategy and management, a newly created position on its senior management committee, company sources told Reuters. Silv

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8 Jun 2016 14:58

Wednesday newspaper share tips: Shell, Tullett Prebon, ICAP

(ShareCast News) - Easing concerns over Royal Dutch Shell (B) dividend payments by finding more savings from the £40bn takeover of BG Group helped The Telegraph's Questor column reach a "Hold" view on the oil major. It also noted cuts to capital spending. Shell has been the go-to stock for years be

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7 Jun 2016 07:25

Shell says BG merger synergies to rise to $4.5bn

(ShareCast News) - Shell said it was increasing the level of cost cuts from its merger with BG Group to $4.5bn from $3.5bn. In an update, the company said it expected to "achieve and exceed the $3.5bn synergies prospectus commitment earlier than expected, in 2017, when synergies should be $4bn. "Ou

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15 Feb 2016 09:48

Shell pursues transition plan after sealing $53 bln BG deal

* Shell completes $53 billion acquisition * To become top LNG trader, major offshore oil producer * Acquisition to define Shell CEO's legacy By Ron Bousso LONDON, Feb 15 (Reuters) - Royal Dutch Shell on Monday sealed the $53 billion (36 billion pounds) acquisition of Briti

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12 Feb 2016 17:08

LONDON MARKET CLOSE: Commodity Stocks, Banks And Rolls Push Shares Up

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12 Feb 2016 12:07

LONDON MARKET MIDDAY: Shares Rebound As Rolls Relief Helps Sentiment

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11 Feb 2016 08:46

Shell Cancels Credit Facility After Sourcing Cash To Fund BG Takeover

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8 Feb 2016 17:19

LONDON MARKET CLOSE: China Fears, Oil Price Fall Weigh On Stocks

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5 Feb 2016 17:03

LONDON MARKET CLOSE: Stocks End Lower After Mixed US Jobs Report

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5 Feb 2016 13:45

Broker tips: BG Group, Halma, Enterprise Inns

(ShareCast News) - Nomura reiterated its 'buy' rating and target price of 1150p on BG Group after the company reported a rise in full-year earnings. Pre-tax profits came to $2.97bn (£2bn) in 2015, compared with a loss of $2.3bn the previous year, despite the impact of falling oil prices. In the fin

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5 Feb 2016 12:03

LONDON MARKET MIDDAY: Miners Lead Gains As Investors Await US Jobs

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