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Soybean Futures Fall to Multimonth Low
Soybean futures fell to an 11-week low as wetter South American weather intensified concerns about oversupply. Oilseed contracts for January delivery fell 0.6% to $9.56 a bushel at the Chicago Board of Trade, the lowest close since Oct. 3. Prices rose overnight before turning lower.
Pernod Ricard to Be Helped by Recovery in Asia: Bryan Garnier -- Market Talk
1120 GMT - A strong improvement in Pernod Ricard's performance is expected for this year as China and India return to high single-digit sales growth, Bryan Garnier says, noting that the market underestimates the extent of recovery in Asia. The brokerage forecasts a significant increase in organic sales growth on year, which should further accelerate in 2019 and 2020. It also expects an announcement of return of cash to shareholders at the end of 2017/18. The stock is trading at a valuation discount of 18%, it says, significantly higher than its average in the last decade. Fair value is raised to EUR145 from EUR130. Shares trade at EUR130.05, down 0.5%. (email@example.com; @bamarc)
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Oil Gains as Pipeline Outage Continues
Oil prices rose Tuesday, helped in part by the continuing outage of a North Sea pipeline and reports that Russia's largest oil company could envision continuing production curbs past 2018. U.S. crude futures traded up 30 cents, or 0.52%, at $57.46 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 39 cents, or 0.62%, to $63.80 a barrel on ICE Futures Europe.
ABF's Primark Attractive, Sales and Sugar Cast a Cloud -- Market Talk
1413 GMT - RBC Capital Markets remains attracted to the long-term growth potential of Primark, though the brokerage cuts its rating on the retailer's owner Associated British Foods PLC to sector perform from outperform. "However, we think its rating may continue to be compromised by a lack of like-for-like (LfL) sales progress for existing stores," RBC says. "We have reduced our ABF earnings per share forecasts by 2-3% owing to lower LfL sales forecasts and lower sugar profitability. We are now slightly below consensus. Our price target moves from GBP35 to GBP31." Shares in ABF fall 1.1% to 2830 pence. (firstname.lastname@example.org)
Hog, Pork Supplies Squeeze Futures
Hog futures fell on Tuesday as lower pork and physical pig prices weighed down the market. Cash prices for slaughter-ready hogs have fallen through much of December as large average hog weights allowed meatpackers to lower their bids. Cash prices on Monday fell 8 cents to $56.05 per 100 pounds, and were expected steady to lower again on Tuesday.
(END) Dow Jones Newswires
December 19, 2017 17:33 ET (22:33 GMT)