Continue Reading Below
Weak Dollar, Strong Exports Lift Wheat Futures
Wheat futures bounced to the highest close in over three months, helped by a weaker U.S. dollar.
The greenback has had a tumultuous week, falling sharply and briefly rebounding before resuming its downward course. The WSJ Dollar Index, which tracks the dollar against a basket of global currencies, has traded at multiyear lows for much of this week. The index fell 0.35% to 83.14 on Friday.
Unilever's 2017 Organic Sales to Grow 3-5%: UBS -- Market Talk
1020 GMT - UBS expects Unilever to report organic sales growth for 2017 between 3% and 5%, and for the consumer goods company to beat its own expectations for operating-margin growth. The Swiss bank expects Unilever to report a 115-basis-point increase in the margin to 17.5%, ahead of Unilever's guidance for a 100-basis-point increase. For the new year, UBS expects Unilever to report earnings per share growth of 2.5%, which is below the consensus forecast for 2018. This is due to anticipated foreign-exchange headwinds and the disposal of its margarine and spreads business. Unilever will publish 2017 results on Feb. 1. (email@example.com)
Continue Reading Below
STORIES OF INTEREST:
Jordan Seeks Barley in Tender
LONDON--The Jordanian state grain agency has issued an international tender to buy 100,000 tons of animal feed barley, traders said Friday.
The tender closes Jan. 31 and follows the failure of an identical tender on Jan. 24.
Nestle to Cut More French Jobs and Centralize Headquarters
Nestle SA (NESN.EB) said Friday that it plans to further reduce its workforce in France as it looks to cut costs and centralize operations.
A spokesperson for the Swiss food company said as many as 400 jobs will be lost as part of a reduction in its French workforce, mainly in support services. The company wants to avoid layoffs, and attrition is expected to account for the reduction in staff numbers, a company spokesman said.
Cattle Futures Rise Ahead of On-Feed Report -- Market Talk
14:44 ET - Cattle futures ended the week with a bounce, as traders wait for the USDA's monthly cattle-supply report at 3 p.m. ET. Analysts expect the number of cattle being fattened for slaughter as of Jan. 1 to rise from a year earlier, alongside slightly smaller numbers of cattle placed in feedlots and sent to slaughterhouses, or marketed, in December. The bulk of the week's physical cattle trade hasn't happened, with packers bidding around $121 to $123 per 100 pounds, steady to lower than last week, and feedlots asking for $126 to $128. CME February live cattle futures rose 1.7% to $1.246 a pound. February hog futures fell 0.3% to 72.275 cents a pound. (firstname.lastname@example.org; @b_parkyn)
(END) Dow Jones Newswires
January 26, 2018 17:40 ET (22:40 GMT)