29/05/17 -"Q3 was rocky and Q4 disastrous. Sector is impacted by Trump, demonetization in India and Brexit. Q1 not much better, outlook is very cautious, we consider last year serving as a base scenario. Food & Beverages lost its shine? In line with STOXX 600, companies are unlikely to upgrade their guidance but there is a change that they will ultimately deliver better-than-expected results. "