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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(Deletes first half of Cisco statement from paragraph 13 aftercompany said the outdated portion was provided to Reuters inerror.)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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29 Jan 2016 07:24

Tanzania finalises land deal for delayed LNG project

By Fumbuka and Ng'wanakilala DAR ES SALAAM, Jan 29 (Reuters) - Tanzania said on Friday it had finalised a land acquisition for the site of a planned liquefied natural gas (LNG) plant and was now working to compensate and resettle villagers to move forward on a long-delayed project. Ta

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28 Jan 2016 17:22

LONDON MARKET CLOSE: Possible Oil Production Cuts Shift Stocks

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28 Jan 2016 16:07

London close: Stocks end lower on lacklustre UK GDP

(ShareCast News) - London stocks ended lower on Thursday after uninspiring UK fourth quarter economic growth data. The Office for National Statistics said UK gross domestic product rose 0.5% quarter-on-quarter in the final three months of 2015, up from 0.4% in the third quarter, as expected by analy

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28 Jan 2016 14:42

BG Group shareholders give Shell takeover the nod

(ShareCast News) - The second set of shareholder approvals in the mammoth Shell-BG Group merger came through on Thursday, with BG Group shareholders giving it the go-ahead. Royal Dutch Shell's £35bn takeover offer is set to create the world's largest liquefied natural gas trader. A Court Meeting an

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28 Jan 2016 14:41

UPDATE: Shell-BG Deal Secures Approval From Both Sets Of Shareholders

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28 Jan 2016 14:40

UPDATE 1-BG shareholders give Shell's $52 bln acquisition final nod

* Deal approved by 99.5 percent of BG shareholders * Merger set to complete on Feb. 15 By Ron Bousso LONDON, Jan 28 (Reuters) - BG Group shareholders overwhelmingly approved Royal Dutch Shell's $52 billion takeover on Thursday, clearing the way for the two firms to create the wo

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28 Jan 2016 14:28

Shell-BG Group Mega-Merger Secures Approval From Shareholders

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28 Jan 2016 14:21

BG shareholders overwhelmingly back Shell's $51 bln offer

LONDON, Jan 28 (Reuters) - BG Group shareholders on Thursday overwhelmingly voted in favour of Royal Dutch Shell's $51 billion offer to buy the British oil and gas company, clearing the way for the companies to create the world's biggest trader of liquefied natural gas (LNG). The deal won

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28 Jan 2016 13:53

FTSE 100 movers: Royal Dutch Shell and BG Group on the rise after takeover approved

(ShareCast News) - The FTSE 100 resurfaced into the black after sinking into the red before lunch, with the blue chip market up 8.45 points (0.14%) to 5,998.82 by early-afternoon on Thursday. Anglo American surged to the top of the market as investors welcomed its fourth quarter production report. O

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28 Jan 2016 12:09

LONDON MARKET MIDDAY: Stocks Erase Gains As UK GDP Gives Mixed Message

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28 Jan 2016 08:38

LONDON MARKET OPEN: Oil Stocks Shine As Brent Tops USD33 A Barrel

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27 Jan 2016 13:52

UPDATE 2-Shell shareholders approve $50 bln BG takeover

* 83 pct of Shell shareholders in favour of deal * BG shareholders to vote on Thursday * If BG approves, companies will merge on Feb. 15 * Combined company would be biggest LNG trader in world (Adds shareholder comments, details) By Karolin Schaps THE HAGUE, Jan 27

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27 Jan 2016 12:31

Shell shareholders approve $49 bln BG takeover

THE HAGUE, Netherlands, Jan 27 (Reuters) - Shareholders of Royal Dutch Shell approved the company's $49 billion takeover of smaller rival BG Group at a special stakeholder meeting in The Hague on Wednesday. As many as 83.08 percent of shareholders voted in favour of the deal, one of the lar

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27 Jan 2016 12:31

Royal Dutch Shell Shareholders Vote In Favour Of BG Group Takeover

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27 Jan 2016 12:25

Shell shareholders approve BG takeover

(ShareCast News) - Royal Dutch Shell has received shareholder approval for its £35bn takeover of BG Group, with 83% voting in favour of the deal, which would create the world's largest liquefield natural gas trader. If BG shareholders approve the offer at their meeting on Thursday, the deal would be

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