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(new: closing price added to the 1st paragraph)
FRANKFURT (dpa-AFX Broker) – A strategy update on Tuesday did not provide the relief investors had hoped for for Bayer shares. After the price was halved within ten months, the shares of the DAX group lost a further 7.6 percent to just under 26 euros. They came under increasing pressure as the day progressed and fell to a low in almost 20 years. The last time the shares were worth so little was in 2005.
Although the agricultural chemicals and pharmaceutical company’s operating result exceeded the average analyst estimates last year, this was also due to one-off effects, explained analyst Richard Vosser from JPMorgan Bank.
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