LNG exporters, packaged food cos slide as China to hit back with tariffs

Seneca Foods

13/05/2019 17:24

** Shares of liquid natural gas exporters and packaged food
companies drop after China said it would slap higher tariffs on
a range of U.S. goods including frozen vegetables and LNG
 urn:newsml:reuters.com:*:nL2N22P0A6
    ** LNG exporters Tellurian Inc  TELL.O , Cheniere Energy Inc
 LNG.A  and Golar LNG Ltd  GLNG.O  slip between 2% and 7% 
    ** Packaged food cos Seneca Foods Corp  SENEA.O , McCormick
& Co Inc  MKC.N , Kraft Heinz Co  KHC.O , Kellogg Co  K.N ,
Sanderson Farms Inc  SAFM.O , Tyson Foods Inc  TSN.N , Hormel
Corp  HRL.N  fall between 1% and 2.1%          
    ** The S&P 1500 food products index  .SPCOMFDPR  dropped
1.5% in early afternoon trading 
    ** Shares of agricultural food producers also took a hit
after Chicago soybean futures extended losses to set a 10-year
low on heightening trade tensions between the world's two
largest economies  urn:newsml:reuters.com:*:nL4N22P1WJ
    ** Archer Daniels Midland Co  ADM.N , Darling Ingredients
Inc  DAR.N , Ingredion Inc  INGR.N  slipped between 2.1% and 4% 
    ** VanEck Vectors Agribusiness ETF  MOO.P  slid 2.6% and was
on track for its biggest one-day percentage fall in nearly 5
months 

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))