FRANKFURT (dpa-AFX Broker) - Shares in the pharmaceutical and agrochemical group Bayer fell by 0.91 percent to 27.18 euros in early trading on Monday in a generally friendly overall market. This meant one of the last places in the German leading index Dax. This means that the second-weakest DAX stock in 2024, with a drop of 19 percent to date, is once again at risk of slipping below the 21-day line, a short-term trend indicator.

Although Bayer is to pay significantly less than expected in a lawsuit over the weedkiller Roundup (glyphosate), Judge Daniel Green in Jefferson City (Missouri) only reduced the damages awarded by a jury to three plaintiffs from a total of USD 1.5 billion to USD 600 million.

In other cases concerning the alleged cancer risks of weed killers containing glyphosate, the jury's awards of damages, some of which were high, were reduced even more significantly by the judges. In addition, Bayer is likely to appeal anyway.

The glyphosate issue has already cost Bayer many billions of euros. It has weighed on the share price for years, which in March fell to its lowest level since 2005. In addition to the never-ending glyphosate issue, a setback in the development of a drug and a sometimes dismal business performance have also weighed on the share price recently./mis/nas