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Syngenta Tumbles After Warning Brazil, Dollar Hurt Earnings
- Syngenta Sees mid-single digit decline in reported '15 Ebitda
- CEO warns Latin America was hurt by currency volatility in 3Q
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Syngenta AG, which rebuffed a takeover approach from Monsanto Co., warned a slowdown in Latin America and the stronger dollar will erode 2015 earnings after third-quarter sales dropped. The shares fell.
Revenue for the latest three-month period fell 12 percent to $2.6 billion due to currency weaknesses compared with the dollar, Basel-based Syngenta said in a statement Thursday. Sales were hurt by low commodity prices in Brazil and tight credit in Argentina.