Europe open: Bayer in focus as US govt supports end to Roundup lawsuits

(Sharecast News) - European shares eked out small gains at the open on Tuesday with Bayer shares surging on news that the Trump administration supported moves to curb US legal action related to its Roundup weedkiller. The pan-regional Stoxx 600 index was up 0.17% in earl deals with all major bourses higher. Eyes were also on talks to end the war in Ukraine with diplomatic efforts continuing.

"US markets slipped last night on light volumes, as investors seemed to be shaking off the weekend's Thanksgiving celebrations. Futures point to a muted start again today, with US markets still hovering near record highs but lacking fresh catalysts," said Hargreaves Lansdown analyst Matt Britzman.

"A quiet earnings calendar and sparse economic data keep the tone subdued, leaving investors looking ahead to Friday's delayed PCE inflation report. With rate-cut odds for next week sitting at 86%, inflation data could be the spark everyone's waiting for, if it's supportive of further cuts."

Oil prices edged higher, with Brent crude ticking just above $63 on the back of geopolitical tensions as Ukrainian strikes into Russia hit key infrastructure, while US aggression towards major producer Venezuela also fuelled supply concerns.

In equity news, Bayer shares jumped 15% on Washington's support to end the thousands of lawsuits alleging its Roundup weedkiller has caused health issues including cancer.

US Solicitor General D. John Sauer urged the Supreme Court on Monday to limit the lawsuits brought against chemical giant, supporting the firm's argument that federal law on pesticides pre-empts claims made under state law.

Reporting by Frank Prenesti for Sharecast.com