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    PHIA   NL0000009538

PHILIPS NV

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European shares rise amid global relief after Powell comments

01/12/2022 | 03:02am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Jan 12 (Reuters) - European shares rose on Wednesday, taking cues from overnight gains on Wall Street after U.S. Federal Reserve Chair Jerome Powell sounded less hawkish than expected in a Congressional testimony.

The pan-European STOXX 600 index rose 0.5% as of 0813 GMT, tracking global stocks, as Powell said the U.S. economy was ready for the start of tighter monetary policy but it may take several months to make a decision on running down the Fed's $9 trillion balance sheet.

Miners led gains, advancing 2% after factory gate inflation data showed more room for policy easing in China, while tech stocks rose for the second straight session.

Dutch firm Philips plunged 11.1% after saying it expects fourth-quarter core profit to drop around 40%, hit by a global shortage of parts and a recall of ventilators.

French cloud computing company OVHcloud climbed 4.2% following a 13.9% rise in first-quarter revenue and said it was on track to achieve its full-year objectives. (Reporting by Anisha Sircar in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ON SEMICONDUCTOR CORPORATION -4.56% 55.83 Delayed Quote.-17.80%
OVH GROUPE -0.30% 18.295 Real-time Quote.-27.72%
PHILIPS NV -2.04% 23.235 Real-time Quote.-27.59%
S&P 500 -4.04% 3923.68 Real-time Quote.-14.21%
STOXX EUROPE 600 NR -2.03% 971.55 Delayed Quote.-8.69%
WISDOMTREE CLOUD COMPUTING UCITS ETF - ACC - USD -3.34% 27.25 Delayed Quote.-45.57%
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Analyst Recommendations on PHILIPS NV
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Financials
Sales 2022 18 272 M 19 175 M 19 175 M
Net income 2022 806 M 846 M 846 M
Net Debt 2022 4 281 M 4 493 M 4 493 M
P/E ratio 2022 24,6x
Yield 2022 3,66%
Capitalization 20 624 M 21 644 M 21 644 M
EV / Sales 2022 1,36x
EV / Sales 2023 1,27x
Nbr of Employees 78 189
Free-Float 97,5%
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Technical analysis trends PHILIPS NV
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 23,73 €
Average target price 32,18 €
Spread / Average Target 35,6%
EPS Revisions
Managers and Directors
Frans van Houten Chief Executive Officer
Abhijit Bhattacharya Chief Financial Officer & Executive Vice President
Feike Sijbesma Chairman-Supervisory Board
Jan Kimpen Chief Medical Officer
Sophie Bechu Chief Operating Officer & Executive Vice President
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