Bayer: share price crumbles after a profit warning.
(CercleFinance.com) - Although actual figures have not yet been reported, Bayer management's comments have been enough to raise doubts on the share.
And this is for a good reason: the German chemical giant said on Friday that it will have to reduce its annual forecasts.
It is still unclear in what proportions - the veil will be lifted on 7 July on the group's publication of its interim accounts - although Bayer has already given the reasons; namely, a high level of inventories at the Brazilian clients of its "Pesticides" division and a less dynamic level of business than expected at its non-prescription drug division. In addition, the group is suffering from unfavourable currency effects...
There has been an immediate reaction from investors: at around 11.20 this morning, the share price was jittery - crumbling 4.3% and by far the sharpest faller on the Dax.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
And this is for a good reason: the German chemical giant said on Friday that it will have to reduce its annual forecasts.
It is still unclear in what proportions - the veil will be lifted on 7 July on the group's publication of its interim accounts - although Bayer has already given the reasons; namely, a high level of inventories at the Brazilian clients of its "Pesticides" division and a less dynamic level of business than expected at its non-prescription drug division. In addition, the group is suffering from unfavourable currency effects...
There has been an immediate reaction from investors: at around 11.20 this morning, the share price was jittery - crumbling 4.3% and by far the sharpest faller on the Dax.
Copyright (c) 2017 CercleFinance.com. All rights reserved.