- Bayer loses 2% after jury verdict
General market situation:
Monday's session on European stock markets brings moderate declines in most stock indexes. Germany's DAX is currently gaining 0.33%. Britain's FTSE 100 is losing more than 0.07% at the same time. The French CAC40, meanwhile, is down 0.35%. Investor attention today turns to corporate news and speeches by Fed bankers.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is trading nearly 0.15% higher during Monday's session. It seems that the key support points of the broad uptrend remain the zones of recent peaks (19,000 points) and the 50-day EMA (blue curve on the chart). The most important resistance, on the other hand, remains the historical peak near 19,650 points. Source: xStation
News:
Bayer (BAYN.DE) shares are down 2%,after a Philadelphia state court jury returned a verdict in favor of a Pennsylvania man who blamed the company for causing non-Hodgkin's lymphoma through the German company's Roundup herbicide. The jury awarded the victim $3 million in compensatory damages and $75 million in punitive damages, according to a statement issued by lawyers.
Shares of French banks and financial companies are under slight downward pressure today after Fitch Ratings gave France a negative outlook, saying it is not convinced the 2025 budget will prevent a surge in public debt. French banks such as BNP Paribas, Societe Generale, Credit Agricole and insurers such as Axa are generally exposed to both the decline in the value of French government bonds and the premium investors demand to hold them.
Equinor (EQNR.NO) was upgraded to an “equal-weight” rating by Morgan Stanley, although the investment bank maintains an overall cautious stance on the European energy sector, based on the weak outlook for oil through 2025.
Other news coming out of individual DAX index companies. Source: Bloomberg Financial LP
