Bayer falls as US glyphosate settlement deadline nears
BUZZ-Bayer falls as US glyphosate settlement deadline nears ** Shares in German pharmaceutical firm Bayer BAYGn.DE are down around 5.5%, at their lowest level in over six months
** A local trader points to market nervousness ahead of the June 4 deadline for plaintiffs to accept the class-action settlement regarding the glyphosate dispute in the U.S.
** Co proposed in February a $7.25 billion legal settlement to address tens of thousands of lawsuits claiming its glyphosate weedkiller Roundup causes cancer
** "It seems that an end to the Monsanto debacle is only emerging very slowly," CMC Markets analyst Andreas Lipkow said
** "Investors had expected a faster and less costly resolution of the legal disputes," he added
** The stock is at bottom of German blue-chip index DAX .GDAXI
** Stock down 9.8% YTD
(Reporting by Emanuele Berro and Stefanie Geiger)
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