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Shares of U.S. exporters tumble as China retaliates on tariffs

Wed, 04th Apr 2018 14:33

April 4 (Reuters) - Shares in U.S. exporters of everythingfrom food to planes were hammered on Wednesday after Chinaretaliated against the Trump administration's tariff plans witha list of duties on key U.S. imports including soybeans, planes,cars, beef and chemicals.

China hit back against U.S. President Donald Trump's plansto impose tariffs on $50 billion in Chinese goods with similartariffs on U.S. goods even as Trump said the country is "not ina trade war with China."

Shares in U.S. aerospace giant Boeing Co fell 5.5percent in early trade while agricultural machinery maker Deere& Co fell 5.6 percent. Soybean exporter Archer DanielsMidland Co was down 1.2 percent while anotheragribusiness Bunge Ltd fell 1 percent.

"So the fear of this ‘dispute’ turning into an all-out ‘war’is once again on the front burner," said Ken Polcari, directorof the NYSE floor division at O’Neil Securities in New York.

Investors in U.S. technology companies were rattled sincethat sector has the biggest revenue exposure to China. UniversalDisplay was down 3.7 percent. Apple Inc fell1.6 percent.

Car maker General Motors Co was down 1.8 percentwhile Ford Motor Co was off 2 percent and Tesla Incfell 4.3 percent.

Chemical provider Chemours Co shed 2.9 percent whileDowDuPont Inc dropped 3 percent.(Reporting by Sinead Carew, Lewis Krauskopf and CharlesMikolajczak in New York, Taenaz Shakir in BengaluruEditing by Jeffrey Benkoe)

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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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