BAYN.DE - Bayer Aktiengesellschaft

XETRA - XETRA Delayed price. Currency in EUR
67.01
+1.01 (+1.53%)
As of 1:36PM CEST. Market open.
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Previous close66.00
Open66.29
Bid66.99 x 28400
Ask67.02 x 2100
Day's range65.87 - 67.18
52-week range52.02 - 84.38
Volume830,317
Avg. volume3,387,215
Market cap62.49B
Beta (3Y monthly)1.10
PE ratio (TTM)110.94
EPS (TTM)0.60
Earnings date20 Feb 2018 - 26 Feb 2018
Forward dividend & yield2.80 (4.22%)
Ex-dividend date2019-04-29
1y target est120.99
  • Motley Fool

    What Happened in the Stock Market Today

    Home Depot rose despite reporting mixed results, and Elanco announced a deal with Bayer for its animal health business.

  • Bloomberg

    Elanco to Buy Bayer’s Animal-Health Unit for $7.6 Billion

    (Bloomberg) -- Elanco Animal Health Inc. clinched the purchase of Bayer AG’s animal-health unit in a deal valued at $7.6 billion, creating one of the biggest stand-alone veterinary-medicine companies in the world.Elanco, which was spun out from drugmaker Eli Lilly & Co. last year, will finance the acquisition with a mix of cash and stock. German drug giant Bayer AG will receive $5.32 billion in cash and $2.3 billion in Elanco Animal Health common shares. The transaction is expected to close in mid-2020.“This will create the No. 2 animal-health company,” Elanco Chief Executive Officer Jeffrey Simmons said in an interview. “We see this as a nice complement. The pet owner, the veterinarian and the farmer win in this transaction.”Shares of Elanco have been under pressure since news of the potential transaction first surfaced earlier this summer. Bloomberg reported that the companies were close to a deal on Aug. 7.Elanco declined as much as 6.3% in New York trading on Tuesday. Bayer shares traded in Germany were down less than 0.1%.Elanco, based in Greenfield, Indiana, expects the deal to add to its adjusted earnings per share in the first full year after it closes. Buying the Bayer division will significantly bulk up its pet business at a time when the agricultural sector has turned more volatile. Last week, Elanco narrowed its sales guidance as a result of the outbreak of a deadly swine flu in Asia, which caused a decline in its farm unit.“With a larger, more diverse animal-health company, the percentage of the vulnerability will be less,” Simmons said, adding that he expects the current swine flu outbreak will eventually pass.Pfizer Inc.’s decision to spin out its animal-health business, Zoetis Inc., in 2013 has prodded other drugmakers to shed their veterinary units. The businesses are often stable, profitable operations whose fortunes are more tied to macroeconomic trends like rising global wealth and protein consumption, instead of risky bets on drug research.For Bayer, the sale adds to the resources it could draw from to pay potential costs for thousands of claims that Roundup, the weedkiller it gained in last year’s Monsanto acquisition, causes cancer. Bayer is in discussions on a possible settlement, but reaching a resolution could take months, people familiar with the matter have said.Simmons said Elanco won’t face any exposure to the Roundup suits.Bullish SectorZoetis, the former Pfizer unit, has seen its stock almost triple since it became an independent company. Elanco finished trading on Monday up 24% since its 2018 stock-market debut. Merck & Co. remains the only major pharmaceutical company that has held onto its animal-health unit, which generates about a 10th of its revenue.The deal would make Elanco the second-largest global animal-health business after Zoetis in terms of revenue, increasing its reach among farmers and pet owners. While it would be the new company’s biggest deal as an independent business, parent Eli Lilly bought Novartis AG’s animal-health unit in 2015 for $5.4 billion and combined the two firms’ assets.“Our top focus is now delivering our pipeline, bolt-ons, and other M&A is not needed,” Simmons said.Wall Street analysts have expressed reservations about the potential deal, saying that the Bayer business is unlikely to deliver a significant boost to Elanco’s growth.“Elanco is buying what I view as a flat-to-declining business that doesn’t innovate and has a high concentration risk,” Kevin Ellich, an analyst at Craig-Hallum Capital Group, said in an interview before the deal was announced. “The deal is dilutive to shareholders. At the end of the day, it’s just not that attractive. I don’t see how the stock goes up.”Simmons said he’s looking forward to setting the record straight with investors. “Now we’re able to respond to the marketplace: There’s been no change in our strategy, this is about growth and innovation,” he said.Elanco intends to work with regulators on potential antitrust issues, but sees the two portfolios as complementary.Goldman Sachs served as financial adviser to Elanco, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Hengeler Mueller were its legal counsel. Elanco’s board of directors was provided a fairness opinion by Duff & Phelps. Bank of America Merrill Lynch and Credit Suisse acted as financial advisers to Bayer, while Sullivan & Cromwell, PwC Legal and Linklaters served as its legal advisers.(Updates stock-price information in fifth paragraph)To contact the reporter on this story: Riley Griffin in New York at rgriffin42@bloomberg.netTo contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett, Mark SchoifetFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Elanco to become No.2 in animal health with $7.6 billion Bayer deal
    Reuters

    Elanco to become No.2 in animal health with $7.6 billion Bayer deal

    The deal is the latest in the fast-growing animal health market, which has recently seen Elanco floated by Eli Lilly and Co and rival U.S. drugmaker Pfizer also spinning off its veterinary medicine business. It also adds to the list of assets sold by Bayer, as the German company looks to slash debt from its $63 billion takeover of seed maker Monsanto last year and as it braces for a potential settlement of lawsuits over an alleged cancer-causing effect of weedkiller Roundup. The two companies said Bayer would receive $5.3 billion in cash and $2.3 billion worth of Elanco stock based on a price of $33.60 per share, the 30-day average price as of Aug. 6.

  • Business Wire

    Elanco Announces Agreement to Acquire Bayer’s Animal Health Business

    Elanco Animal Health Incorporated (ELAN) today announced it has entered into an agreement with Bayer AG (BAYN) to acquire its animal health business in a transaction valued at US$7.6 billion. The transaction, which is subject to regulatory approval and other customary closing conditions, creates the second largest animal health leader while strengthening and accelerating the company’s proven Innovation, Portfolio and Productivity (IPP) strategy.

  • Elanco Narrows Guidance Amid Spread of African Swine Fever
    Bloomberg

    Elanco Narrows Guidance Amid Spread of African Swine Fever

    (Bloomberg) -- Elanco Animal Health Inc. narrowed its sales forecast for the year as a worsening outbreak of a deadly swine flu ravages the pork industry in Asia.The company, which was spun off last year from drugmaker Eli Lilly & Co., reined in the higher end of its revenue outlook, saying it now sees 2019 sales of $3.08 billion to $3.12 billion, compared with the $3.08 billion to $3.14 billion it had forecast in May.African swine fever has led to the slaughter of millions of animals in China as officials seek to contain the outbreak and limit the damage to the country’s pork producers. The virulent flu jumped from Africa to Europe and spread quickly in Asia. For companies like Elanco, the culling of livestock has led to lower demand for medicines and other products.“I haven’t seen something like this in my 30 years working in animal health,” said Elanco Chief Executive Officer Jeff Simmons in a telephone interview. He said that swine fever is the most significant headwind the company faces. The disease is expected to cut into Elanco’s sales by $40 million to $50 million this year, the company said.Elanco is meanwhile weighing steps to get bigger. Last week, Bloomberg reported that Elanco is attempting to reach a deal to combine with Bayer AG’s animal-health unit.Chief Financial Officer Todd Young said on a conference call that Elanco is postponing the initiation of a dividend so the company can use its cash “in the most productive way possible.”Shares of Elanco gained as much as 2.9% to $30.40 in New York on Tuesday.Street SkepticismWall Street has been skeptical about Elanco’s bid for the Bayer division. Since July 8, the day before Reuters reported that the companies were in talks, Elanco’s shares are down about 9%.While Bayer prefers a deal with Elanco, no final agreements have been reached and the talks could drag on or fall apart, people familiar with the matter told Bloomberg. Bayer may proceed with its previous plans for a broader auction process if it can’t agree on terms with Elanco by early September, one of the people said at the time.Asked repeatedly about the possible combination with Bayer on the call with investors, Simmons said Elanco is always “evaluating vectors of risk and opportunity.” He declined to comment further on the potential deal.“We believe we have the scale and the global reach that we need,” Simmons said in the telephone interview. “We’ll continue to expand and accelerate this strategy, we’ll continue to bolt-on.”Elanco’s pet businesses helped offset the sales declines in the farm unit in the most recent quarter, with disease prevention sales increasing 4% from a year earlier to $223.4 million and therapeutics sales rising 22% to $83.4 million.Second-quarter adjusted earnings were 28 cents a share, the company said in a statement, topping an average of analysts’ estimates.(Updates with comments from conference call in sixth paragraph)To contact the reporter on this story: Riley Griffin in New York at rgriffin42@bloomberg.netTo contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    No-deal Brexit could deepen Europe's shortage of medicines - experts

    As the Oct. 31 deadline for Britain to leave the European Union approaches, health professionals are warning that shortages of some medicines could worsen in Europe in the event of a no-deal Brexit. Britain's food and drink lobby warned last week that the country would experience shortages of some fresh foods if there is a disorderly no-deal Brexit.

  • For Bayer, a Roundup Deal Would Be Billions Well Spent
    Bloomberg

    For Bayer, a Roundup Deal Would Be Billions Well Spent

    (Bloomberg Opinion) -- Bayer AG shareholders are daring to imagine a future free of the litigation that has dogged the pharma group’s Roundup weedkiller. It’s an increasingly plausible scenario, and one investors are itching to price in.Evidence is mounting that the German drugmaker is serious about settling the thousands of claims alleging Roundup is responsible for cancer. Bayer’s lawyers have suggested a deal worth between $6 billion and $8 billion, Bloomberg News reported on Friday. The talks are sufficiently advanced that lawyers are seeking a delay to upcoming court cases.Bayer had been energetically contesting the claims, insisting that Roundup is safe when used as directed. The stock jumped as much as 11%, adding 6.6 billion euros ($7.4 billion) to the company’s market value, highlighting the commercial case for being pragmatic and settling rather than fighting on.The size of the possible settlement looks close to what analysts had predicted using the drug industry as a precedent. Bloomberg Intelligence put the likely cost of a deal at $6 billion to $10 billion. As things stand, it’s not clear if Bayer’s range is an opening shot. Lawyers for the plaintiffs are seeking more than $10 billion. Whether a deal can be reached, and its final cost, remain to be seen. Chief Executive Officer Werner Baumann has chosen his words carefully, saying last month the company would be open to a settlement that was reasonably priced and that definitively ceased litigation.His challenge is to balance the hard costs of a deal with the boost to the share price it could create. Bayer can afford to pay – but it would be a stretch. Its $39 billion of net debt puts leverage at 3.3 times the last 12 months’ Ebitda. A $10 billion settlement would push leverage to roughly four times Ebitda. That’s still less than what it was immediately after the company’s takeover of Monsanto Co. last year, the fateful deal that brought Roundup with it.The upside for shareholders looks to be more substantial. Even after Friday’s jump, Bayer trades on 8.5 times this year’s estimated Ebitda, less than the 12 times average of its peers in the pharmaceutical industry. Suppose worries about Roundup fade, allow for a conglomerate discount to reflect the company’s unproven model of combining crop and life sciences, and say the stock re-rates to 10 times. Bayer’s enterprise value would then be 119 billion euros. Deduct net debt and, say, $10 billion for a settlement and the equity would be worth 71 billion euros, 17% more than the company’s current market value.Baumann has seen the market’s appetite for clarity here. His investors want him to get this done and to get on with the next big job – making the Monsanto deal deliver.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Bayer mediator dismisses report of $8 bln Roundup settlement
    Reuters

    Bayer mediator dismisses report of $8 bln Roundup settlement

    NEW YORK/FRANKFURT (Reuters) - Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11% higher. "Bayer has not proposed paying $8 billion to settle all the U.S. Roundup cancer claims. Such a statement is pure fiction," Feinberg said in an email on Friday.

  • Reuters - UK Focus

    UPDATE 2-Italy leads European shares lower on political uncertainty

    European shares slid on Friday with Italian stocks 2.5% lower on political uncertainty, while comments by U.S. President Donald Trump that he was not going to make a trade deal with China also weighed on sentiment. Italy's main index touched a two month low with its bank index tumbling 4.5% after the leader of the ruling League party, Matteo Salvini, pulled his support for the country's governing coalition on Thursday and called for fresh elections.

  • Bayer mediator dismisses report of $8 billion Roundup settlement
    Reuters

    Bayer mediator dismisses report of $8 billion Roundup settlement

    NEW YORK/FRANKFURT (Reuters) - Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11% higher. "Bayer has not proposed paying $8 billion to settle all the U.S. Roundup cancer claims. Such a statement is pure fiction," Feinberg said in an email on Friday.

  • Bayer buys BlueRock in $600 million bet on stem cell therapies
    Reuters

    Bayer buys BlueRock in $600 million bet on stem cell therapies

    German drugmaker Bayer is paying up to $600 million for full control of cell therapy developer BlueRock Therapeutics, stepping up investment in a promising new medical area to revive its drug development pipeline. Having established BlueRock as part of a 2016 joint venture with Versant Ventures, Bayer will acquire the remaining 59.2% stake for about $240 million upfront and an additional $360 million depending on certain development achievements, it said on Thursday. BlueRock, valued at about $1 billion by the deal, is working on induced pluripotent stem cells (iPSC), made by reprogramming mature body cells to behave like embryonic stem cells that are injected to restore diseased tissue in patients.

  • Elanco, Bayer Are Aiming to Reach Animal-Health Deal Next Week
    Bloomberg

    Elanco, Bayer Are Aiming to Reach Animal-Health Deal Next Week

    (Bloomberg) -- Elanco Animal Health Inc., the business Eli Lilly & Co. listed last year, is aiming to reach an agreement as soon as next week to combine with Bayer AG’s animal-health unit, people with knowledge of the matter said.The companies hope to announce a deal around the time of Elanco’s Aug. 13 earnings release, the people said, asking not to be identified as the discussions are private. Elanco, which has a market value of about $12.3 billion, plans to pay at least part of the acquisition cost using stock, the people said.Elanco lost 4.2% Wednesday to close at $31.47. Bayer rose as much as 2.6% early Thursday in Frankfurt.Bayer is selling units to sharpen its focus after the $63 billion purchase of Monsanto, which saddled it with thousands of lawsuits claiming that the Roundup weedkiller it acquired in that deal causes cancer. The German giant agreed to unload its majority stake in a chemicals venture Wednesday in a deal valued at $3.9 billion, and two Roundup trials have been delayed as pressure builds on Chief Executive Officer Werner Baumann to fashion a settlement.Bayer would get a significant minority stake in Elanco under the deal being discussed, according to another person. The companies are currently hammering out potential antitrust issues by identifying which businesses they will likely need to sell to gain regulatory approval, the person said.While Bayer prefers a deal with Elanco, no final agreements have been reached and the talks could drag on or fall apart, the people said. Bayer may proceed with its previous plans for a broader auction process if it can’t agree on terms with Elanco by early September, one person said.Serial AcquirerA deal between Elanco and Bayer would preempt a sale process that was expected to be one of Europe’s most hotly contested deal situations this year. It had attracted a flurry of initial interest from buyout firms ranging from KKR & Co. to Blackstone Group Inc. and CVC Capital Partners, which have increasingly been bidding against each other as they try to spend the record amounts of capital the industry has amassed.Bayer said in a statement that it’s on track with plans to exit the animal-health business and its primary focus is on a sale. The German company also continues to consider all value-maximizing options, it said in the statement, declining to comment further.Elanco has grown rapidly through at least 10 acquisitions since 2007, including the $5.4 billion takeover of Novartis AG’s animal-health unit. A representative for Elanco, which is based outside Indianapolis, declined to comment.Ambitious BetsThe sale of Bayer’s animal-health unit was expected to fetch as much as 8 billion euros ($9 billion), Bloomberg News has reported. The process was initially slated to kick off in the second quarter, people with knowledge of the matter said in March, though Bayer has repeatedly pushed back the start of the auction.The Bayer business offers medicine and antibiotics to farm animals and pets. The division’s best-selling product line is the Advantage flea, tick and worm treatments for small animals.Drugmakers including Lilly, Bayer and Pfizer Inc. have all offloaded their animal-health units in recent years. The businesses are often stable, profitable operations that go unrecognized inside larger pharmaceutical firms increasingly focused on ambitious research bets.(Updates with shares in third paragraph.)\--With assistance from Tim Loh and Nabila Ahmed.To contact the reporters on this story: Riley Griffin in New York at rgriffin42@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, ;Drew Armstrong at darmstrong17@bloomberg.net, ;Fion Li at fli59@bloomberg.net, Ben Scent, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-UK investors seek safety in bonds amid Brexit worries

    * European stocks recover losses after 3-day rout * STOXX 600 off earlier highs, now up 0.4% * Miners, financial services lead FTSE 100 fallers * Investors seek out bargains, but worry about trade spat * Bayer and Lanxess gain after divesting chemical park unit * Wall Street futures indicate weak opening Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net UK INVESTORS SEEK SAFETY IN BONDS AMID BREXIT WORRIES (1238 GMT) UK investors piled into bonds and shunned equities last month at their fastest pace in some time, data from Calastone shows, the latest fund flow numbers to highlight the scramble for safety as worries about a no-deal Brexit and the slowing economy have grown.

  • Bayer says next glyphosate lawsuit likely to be postponed
    Reuters

    Bayer says next glyphosate lawsuit likely to be postponed

    Germany's Bayer said the next U.S. lawsuit scheduled to be heard over claims that its glyphosate-based weedkiller Roundup causes cancer would likely be postponed. Bayer, which acquired the weedkiller as part of its purchase of Monsanto last year, was initially scheduled to face its first trial outside California in St. Louis, Missouri, on Aug. 19, brought by Illinois resident Sharlean Gordon, who blames her non-Hodgkin's lymphoma on using Roundup at home. "We anticipate that this court case will be postponed but we have not received any written decision," a Bayer spokesman said.

  • Reuters - UK Focus

    LIVE MARKETS-A sense of deja vu in stock markets

    * European stocks recover losses after 3-day rout * FTSE lags on miners, financial services * Investors seek out bargains, but worry about trade spat * Bayer and Lanxess gain after divesting chemical park unit Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net A SENSE OF DEJA VU IN STOCK MARKETS (0949 GMT) European markets have lost close to 4.5% since Trump's latest tariff threat and there is a sense of deja vu in this. A quick look at how some sectors performed 6 days after Trump's threat in May versus 4 trading days after the August threat suggests there has been a sharper move this time but in both cases, the same names underperformed markets.

  • Reuters - UK Focus

    LIVE MARKETS-Miners: negative catalysts

    * European stocks recover losses after 3-day rout * FTSE lags on miners, financial services * Investors seek out bargains, but worry about trade spat * Bayer and Lanxess gain after divesting chemical park unit Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net MINERS: NEGATIVE CATALYSTS (0856 GMT) Miners are not having a great time of late as escalating trade tensions send shivers through the sector and the industry index is trading at fresh 2019 lows with disappointing results from Glencore being the latest drag to the index, which the only one that's missing out on today's rebound in Europe.

  • Lanxess, Bayer sell chemical park operator to Macquarie for $3.9 billion
    Reuters

    Lanxess, Bayer sell chemical park operator to Macquarie for $3.9 billion

    German chemical groups Bayer and Lanxess have agreed to sell integrated chemical site operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) for an enterprise value of 3.5 billion euros (£3.2 billion). Reuters reported last September initial plans by Bayer to divest its 60% stake in the chemical park operator, part of a string of assets it has put on the block to slash debt since its $63 billion takeover of Monsanto last year.

  • Reuters - UK Focus

    UPDATE 2-European shares end trade-driven losing run but worries linger

    European shares rose on Wednesday, breaking a three-day losing streak on euphoria over a multi-billion dollar German chemical deal but gave up some gains after Wall Street opened sharply lower on recession worries. The pan-European STOXX 600 index closed 0.2% higher, after having gained as much as 1% during the session when Bayer and Lanxess' deal to sell chemical park operator Currenta for $3.9 billion had lifted stocks. Bayer's 6% jump was the biggest boost to the main index and helped Germany's DAX shrug off week industrial output data.

  • $3.9 Billion Deal to Sell Chemical Parks Boosts Bayer, Lanxess
    Bloomberg

    $3.9 Billion Deal to Sell Chemical Parks Boosts Bayer, Lanxess

    (Bloomberg) -- Bayer AG and Lanxess AG agreed to sell a chemical-parks operator to funds managed by Macquarie Infrastructure and Real Assets in a deal valued at 3.5 billion euros ($3.9 billion).Shares of the German companies gained on the deal, with Bayer up 1.4% early Wednesday in Frankfurt and Lanxess surging as much as 5%.The sale extends Bayer Chief Executive Officer Werner Baumann’s push to unload assets outside the core health-care and crop-science units. It comes as Bayer battles a wave of U.S. lawsuits over its Roundup weedkiller, which plaintiffs say causes cancer.Bayer’s 60% stake in the Currenta chemical-park venture has an equity value of about 1.17 billion euros. The deal includes pension obligations and debt, and the health and agricultural giant will sell real estate and infrastructure assets for 180 million euros, according to a statement Tuesday.Bayer said in November it was looking to sell the Currenta stake as part of a streamlining plan that includes cutting 12,000 jobs.What Bloomberg Intelligence Says“Bayer’s sale of its 60% stake in Currenta is positive, but unlikely to outweigh the negative sentiment following weak 2Q results and the increase in Roundup claims.”\-- Mustaq Rahaman, credit analystclick here to read the pieceThe price it secured might disappoint some investors in the pharma and agricultural giant, which has been under pressure from activist shareholder Elliott Management Corp. In May, Citigroup estimated the value of the 60% holding at 1.5 billion euros.Yet the deal boosts Bayer’s financial position as it battles the Roundup lawsuits, which it took on via the $63 billion acquisition of Monsanto. Analysts have said a settlement of the cancer allegations, which the company denies, could cost Bayer billions of dollars.To contact the reporters on this story: Cécile Daurat in Wilmington at cdaurat@bloomberg.net;Tim Loh in Munich at tloh16@bloomberg.netTo contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Marthe FourcadeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    Chemical deals lift European shares, banks weigh

    European shares rose on Wednesday after three sessions of losses as deal-making activity in the chemical sector helped offset pale earnings from banks in the region, with U.S.-China trade worries lingering. German chemical groups Bayer and Lanxess agreed to sell chemical park operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) for an enterprise value of 3.5 billion euros ($3.9 billion). Banks moved lower, with Italian banks weighing after mixed earnings from the country's top lenders.

  • Reuters - UK Focus

    LIVE MARKETS-Europe in tentative recovery

    Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Europe's stock futures are staging a very tentative recovery from a punishing three-day sell-off that knocked more than 5% of the pan European STOXX 600 index as nervous investors return to riskier assets and seek out bargains amid continued worries about the escalating trade war between Washington and Beijing. "We've gone from being hopeful a couple of weeks ago that talks in Shanghai would aid progress towards a deal and the removal of tariffs, to new tariffs, China no longer buying US agricultural goods and the US labeling China a currency manipulator.

  • Reuters - UK Focus

    LIVE MARKETS-On our radar: banks and M&A

    Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Concerns about the health of corporate Europe are deepening as Q2 results season continues (this morning, there's a flurry of bank results). Back to today with a mixed bag of results from financial services companies - Italy's biggest bank by assets UniCredit has cut its revenue target for 2019 due to expectations of lower for longer interest rates, while the country's No. 3 lender, Banco BPM , reported a sharp rise in net profit for the three months through June helped by capital gains and an improvement in core revenues.

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