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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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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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