FRANKFURT (dpa-AFX) - Bayer shares continued to be highly rated by investors on Tuesday. In the afternoon, they surpassed their previous day's high and most recently gained around four percent to 53.91 euros at the top of the Dax. At the same time, they broke through the exponential 200-day line, which provides an indication of the longer-term trend.

The share price jump on Tuesday was triggered by forecasts of the pharmaceutical company for new drugs, thanks to which the Leverkusen-based company intends to more than make up for the prospect of lost revenues from the blockbusters Xarelto and Eylea in the medium term. Four key growth drivers are expected to generate total peak sales of more than twelve billion euros.

On the previous day, the shares had already risen sharply after it became known that Jeff Ubben, an activist investor from the United States, was on board at Bayer and that pressure on the management for changes in the Group was therefore expected to increase.

Analyst Emily Field of the British bank Barclays, for example, sees Ubben's influence as positive. It could turn around investor sentiment toward the stock, which has been negative for months, she wrote in a recent research note. Investors have also frequently complained recently about a lack of share price drivers, she added, referring to calls for a new CEO.

Bayer shares have now already gained 11.5 percent since the beginning of the year, making them among the Dax favorites in the still young stock market year 2023./ajx/bek/jha/