Bayer’s Q2 income falls on Covestro deconsolidation; negative FX

Bayer’s second-quarter net income fell nearly 35% as a result of the absence of earnings contributions from Covestro following its deconsolidation and negative foreign exchange (FX) effects, the German chemical major said on Wednesday. Bayer did not mention on Wednesday the US court case which in August ordered Monsanto to pay damages to a man who claimed his cancer was caused by the company's weed killer products, including Roundup. Monsanto’s new owner's shares fell sharply as a result, although they have recovered to some extent in past weeks.