The DAX 40 Index in Frankfurt saw a modest increase of 0.1% on Tuesday, edging closer to the 23,600 mark. This minor uptick followed a 1% decline in the previous session and was primarily driven by a significant surge in Bayer's stock. Shares of the agrochemical and pharmaceutical powerhouse shot up by as much as 15% during early trading, marking the company's largest gain in over two decades. This rise pushed Bayer's year-to-date increase to approximately 80%. The rally was fueled by news that the Trump administration had encouraged the US Supreme Court to consider Bayer's appeal in multiple lawsuits alleging that its Roundup weedkiller is carcinogenic.
However, the rest of the index mainly experienced declines, contributing to a broader risk-averse sentiment. Notable downward movements were observed in Rheinmetall, which fell by 1.9%, Adidas at a decrease of 1.6%, and Vonovia, dropping by 1.2%. Investor sentiment remained guarded as they assessed significant overnight shifts in the cryptocurrency markets and Japanese government bond yields.
