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General Mills Inc. (GIS)

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US pre-open: Traders cautious ahead of Crimean referendum

14 Mar 14

LONDON (ShareCast) - US equities are being called to slip slightly lower this afternoon, ahead of the release of the latest reading on consumer confidence levels in the US.

Acting as a backdrop, traders may be looking to pare their exposure to ‘event risk’ arising from this Sunday’s referendum on Crimean secession.

US Secretary of State John Kerry is meeting his Russian counterpart this afternoon, in London, to try and return the situation to the diplomatic track.

That comes as Estonia’s defence minister warned that Russia is preparing to invade eastern Ukraine and President Vladimir Putin claimed that Kiev has lost control of the country.

The US and Europe announced “very serious” steps would be taken should the crisis not be resolved and the referendum goes forward.

Packaged foods maker General Mills has guided analysts lower on their estimates for earnings per share (EPS) for the company. The firm sees EPS coming in at between 61 and 62 cents for its fiscal third quarter, well below the 68 cents forecast by consensus.

Producer prices fell by 0.1% month-on-month in February after a rise of 0.2% in the month before (consensus: 0.2%).

Copper futures flat

US 10-year Treasury yields are moving lower by four basis points to the 2.61% mark.

Front month West Texas crude futures are rising 0.86% to the $99.04/barrel mark on NYMEX.

Copper futures were largely unchanged.


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.


Market Data

Currency US Dollars
52 Week High $59.67
52 Week Low $47.28
Shares Issued 601.90m
Market Cap $31,762m


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