Bayer surges after Trump administration backs its bid to curb Roundup lawsuits
Shares of Bayer BAYGn.DE rise 13% after the Trump administration backed the group's bid to curb Roundup lawsuits
If gains hold, shares are set for their biggest daily gain since 2008
President Donald Trump's administration urged the U.S. Supreme Court on Monday to take up Bayer's bid to curtail thousands of lawsuits claiming its Roundup weedkiller causes cancer, backing the company's argument that federal law bars the claims
Analysts at J.P. Morgan see the recommendation as an important step towards containing glyphosate litigation, with the focus now shifting to the U.S. Supreme Court decision to take the case and then a potential ruling on pre-emption in 2026
"As a result, we expect the shares to reflect some of the potential for a lower provision requirement and hence expect the shares to outperform by 10-15% today," JPM said before the market opened
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