European stocks news: chemical giant Bayer up about 3% US government calls on court to dismiss Bayer's huge compensation judgment
Investing.com-On Monday, European stock markets entered a holiday market, responding flatly to China's reduction of tariffs on more than 850 commodities since January 1, 2020, and fluctuated within a narrow range near the flat line.
As of 21:10 Beijing time, Investing.com ’s European stock market showed that the European benchmark index Pan-European Stoxx 600 remained flat at 418.42 points; the German Dax index fell 0.09%; the French CAC 40 index rose 0.07%; UK stocks rose 0.56%; Italy's FTSE MIB index fell 0.52%; Spain's IBEX35 index fell 0.29%.
At the same time, China ’s cut in tariffs on chip products has not boosted European chip stocks. Infineon (DE: IFXGn) fell 0.25, STMicroelectronics (PA: STM) fell 0.45%, and Asmer (AS: ASML) rose 0.74%.
German chemical giant Bayer (DE: BAYGN) rose against the market, rising 2.78% after the US government said that the court should revoke the company's huge fine in a Roundup herbicide carcinogen case.
The U.S. Environmental Protection Agency and the Justice Department said in a "Friends of the Court" briefing released on Friday that the Federal Court of Appeal should reverse the lower court's ruling on the Roundup herbicide carcinogen case, which ordered Bayer to pay a man $ 25 million in compensation, the man claims that Roundup herbicide produced by Monsanto caused him to develop cancer. Bayer acquired Monsanto in 2017.
UAE medical service provider NMC Health (LON: NMC) surged 31.40% after the company announced that it would commission an external auditor to independently review its accounts, a move designed to wash out multiple charges of shorting the agency's muddy water charges. Last week, Muddy Waters accused the company of underestimating debt, exaggerating asset values and the existence of unreported related party transactions, causing NMC Health's stock price to evaporate in half. Although NMC Health responded, the allegations were "baseless."
In other news, Credit Suisse (SIX: CSGN) fell 0.83%, and Credit Suisse reported a second commercial espionage against its former executives. In response, the Swiss regulator Swiss Financial Markets Supervisory Authority (FINMA) has appointed an investigator to investigate.
Earlier media reports said that Credit Suisse monitored its former human resources director, and just a few months ago, the bank broke the same monitoring action against its wealth management head Iqbal Khan, when Iqbal Khan was preparing to change jobs to The bank's rival Swiss Bank.
Credit Suisse said in a statement that the company's current chief executive, Tidjane Thiam, knew nothing about monitoring.