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On April 7th, Futures News reported that soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Monday, with the benchmark contract rising 1.5%, mainly due to active arbitrage trading between soybean oil and soybean meal, and a firm rise in international crude oil futures. A moderate rise in international crude oil futures on Monday, coupled with active oil-meal arbitrage trading, boosted the soybean oil market. Iran rejected the US proposal to immediately reopen the Strait of Hormuz in exchange for a 45-day ceasefire, demanding a permanent ceasefire, the lifting of sanctions, war reparations, and a new arrangement for the governance of the strait. Trump responded that Irans demands were "not good enough, but its an important step forward." Trump also stated that he would not postpone Tuesdays deadline for Iran to open the Strait of Hormuz, otherwise he would launch military strikes against its power plants and bridges.Japanese Finance Minister Satsuki Katayama: There is no problem with oil reserves; the problem lies in our ability to support our Southeast Asian partners.Japanese Finance Minister Satsuki Katayama: The amount needed to continue subsidies to control gasoline prices has not yet been estimated.Japanese Finance Minister Satsuki Katayama: G7 finance ministers and central bank governors agree that sharp fluctuations in oil prices are causing high volatility in financial and foreign exchange markets.1. The three major U.S. stock indexes closed slightly higher. The Dow Jones Industrial Average rose 0.36% to 46,669.88 points, the S&P 500 rose 0.44% to 6,611.83 points, and the Nasdaq Composite rose 0.54% to 21,996.34 points. Boeing rose nearly 2%, and American Express rose more than 1%, leading the Dow Jones gains. The Wind U.S. Tech Seven Giants Index rose 0.42%, with Amazon and Google rising more than 1%. The Nasdaq China Golden Dragon Index fell 0.21%, with BaWangChaJi rising more than 3% and iQiyi falling more than 4%. 2. Major Asia-Pacific stock indexes closed higher across the board. The Nikkei 225 rose 0.55% to 53,413.68 points. The South Korean KOSPI rose 1.36% to 5,450.33 points. The Indian SENSEX 30 rose 1.07% to 74,106.85 points. 3. The WTI crude oil futures contract closed up 0.96% at $112.61 per barrel; the Brent crude oil futures contract rose 0.61% to $109.7 per barrel. 4. International precious metals futures generally closed lower. COMEX gold futures fell 0.08% to $4676.10 per ounce, and COMEX silver futures fell 0.15% to $72.81 per ounce. 5. US Treasury yields were mixed. The 2-year Treasury yield rose 2.06 basis points to 3.850%, the 3-year Treasury yield rose 0.57 basis points to 3.874%, the 5-year Treasury yield was unchanged at 3.983%, the 10-year Treasury yield fell 1.00 basis point to 4.333%, and the 30-year Treasury yield fell 2.35 basis points to 4.886%.

Coca-Cola HBC's Profit Rises Due to Price Increases And Expense Reductions

Skylar Williams

Feb 14, 2023 17:01

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Coca-Cola (NYSE:KO) HBC AG announced a higher-than-anticipated operating profit for 2022 on Tuesday, aided by pricing increases and cost-cutting efforts.


However, the bottler anticipates organic operating profit growth between +3% and -3% in 2023.


For the year ending December 31, Coca-Cola HBC reported earnings of 703.8 million euros ($755.5 million), which was above the company-compiled analysts' estimate of 658.2 million euros.


Although there has been a shift in consumer spending due to customers' preference for cheaper options in the face of rising inflation, demand for packaged beverages and foods has remained robust despite price increases.


The wide portfolio of the Switzerland-based firm includes alcoholic beverages such as The Macallan and Jack Daniel's, fizzy drinks Sprite and Monster Energy, and Bambi cookies and wafers.


According to the company-compiled consensus, analysts anticipate an organic operating profit of around 865,6 million euros in 2023, representing a year-over-year increase of 23%.