FRANKFURT (dpa-AFX) - Bayer shares were able to head for the round 30 euro mark on Wednesday. A drastically reduced fine imposed by a US court in connection with the controversial weedkiller Roundup boosted the shares. On Tradegate, they gained around three percent compared to the Xetra close at 29.14 euros. Since the end of January, the share price had not managed to sustainably exceed the 30 euro mark.

The pharmaceutical and agrochemical group has to pay significantly less than expected in a legal dispute over the glyphosate-based weedkiller Roundup. A court in Philadelphia reduced the damages from 2.25 billion US dollars to 400 million US dollars (367.5 million euros). This was the highest amount since the start of the lawsuits surrounding the alleged cancer risks of the weedkiller glyphosate in 2018. Bayer intends to appeal.

"Bayer shares should react positively," said one trader. However, the burdens resulting from Roundup are still too great for the Group as a whole for investors to be relieved.

Another Borsianer called the court's decision unsurprising, as the damages award of 2.25 billion dollars was "unusually high". However, it would be inappropriate to sound the all-clear in view of the very high number of lawsuits still pending with an uncertain outcome./bek/ag/jha/