Finance

Bayer Stock Slumps After Explosion at Chemcial Plant in Leverkusen By Investing.com

© Reuters.

By Geoffrey Smith 

Investing.com — Bayer (OTC:) stock slumped to the bottom of the German by mid-morning in Europe, after an explosion at a chemicals plant in its home town of Leverkusen in western Germany.

By 4:55 AM ET (0855 GMT), Bayer shares in Frankfurt were down 2.3%, the worst performer in the DAX and the third-worst performer in the . 

Bayer, once one of the most valuable companies in Europe, has fallen by nearly two-third since announcing the acquisition of U.S. crop sciences company Monsanto (NYSE:), which left it exposed to billions of dollars in compensation claims from those who had suffered side-effects from its Roundup weed-killer. 

The German broadcaster ZDF cited the local fire service as saying that the incident may have been caused by gas explosion at the plant’s waste disposal site. There were no details of casualties. 

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button