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Global Commodities Roundup: Market Talk

23 Apr 2017 10:19 pm

22:19 GMT [Dow Jones] Consumers are shunning sugary soft drinks for healither alternatives, and UBS analysts don't think Australian bottler Coca-Cola Amatil can halt the soft-drink decline over the next three years. The headwinds facing the market are "structural, not cyclical," UBS says. Coca-Cola Amatil warned Friday that underlying net profit would fall in the first half of 2017, citing weak trading in its Australian division. "We believe management is executing well and has delivered better-than-expected results via cost-out, however these opportunities are slowing and top line is not improving," UBS said. The analysts slapped Coca-Cola Amatil with a sell rating. (mike.cherney@wsj.com; @Mike_Cherney)

22:18 GMT [Dow Jones] A delay to Oz Minerals's (OZL.AU) preparatory work for its Carrapateena copper-gold mine in South Australia state has cemented Canaccord Genuity's cautious view of the project. On Friday, Oz Minerals said the outcome of a feasibility study now won't be known until 3Q. "While long life, scalable base metal projects in Australia are rare, Carrapateena is one of the more challenging projects in our coverage list," Canaccord says. "Its outcome will depend on Oz Minerals's ability to execute and the prevailing copper price." Oz Minerals's 1Q copper output of 25,000 tons was softer than Canaccord's 30,000-ton estimate. Canaccord stays at sell on Oz Minerals, which last traded at A$7.43. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 23, 2017 18:19 ET (22:19 GMT)

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