DAX Edges Lower As Bayer Halts Asundexian Trial
(RTTNews) - German stocks traded lower on Monday, with Bayer AG shares plunging to a 12-year low after aborting a large late-stage trial testing a new anti-clotting drug due to lack of efficacy.
In economic releases, Germany's producer prices declined for the fourth straight month in October due to the decrease in energy prices, Destatis reported earlier today.
Producer prices dropped 11.0 percent from a year ago in October, in line with expectations. The annual decline in September was 14.7 percent, which was the biggest fall since records began in 1949.
On a monthly basis, producer prices slid 0.1 percent in October - matching expectations.
The benchmark DAX was down 31 points, or 0.2 percent, at 15,888 after rising 0.8 percent on Friday.
Agrichemical company Bayer AG slumped 18 percent after stopping the main study of its top experimental medicine and losing a key U.S. trial against its weed killer Roundup.
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