stock moves, UK inflation data, earnings

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stock moves, *** inflation data, earnings

*** inflation jumps to higher-than-expected 3% in January

Annual U.K. inflation rose to 3% in January, higher than analyst expectations, according to data released by the Office for National Statistics on Wednesday.

Economists polled by Reuters had expected a reading of 2.8%.

Read more here.

— Holly Ellyatt

Philips CEO says ******** consumer recovery is ‘when not if’ story

Philips CEO Roy Jakobs said Wednesday that recovery in ******** consumer demand was a “when not if” story, after the health-care technology giant reported a double-digit fall in China sales.

“We believe [******** demand] will come back, long term it’s attractive, but we’re just not sure when it’s going to happen and when it’s going to hit that inflection point,” Jakobs told CNBC’s “Squawk Box Europe.”

Jakobs said that the importance of health care to the country’s ageing population meant pent-up demand would start to build up, and that he foresees strength in North America sales to continue.

On the risks to the business from U.S. President Donald Trump’s tariff threats, Jakobs said Philips had already been reducing its exports from China to the U.S. and had included the impact in its current guidance.

He added that “uncertainty around tariffs” was why the company had provided a wide adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin

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for 2025 of 30 to 80 basis points.

Philips reported a 1% increase in comparable sales growth for both the fourth-quarter and full-year 2024 on Wednesday. Its net loss widened to 698 million euros ($729.9 million) from 463 million euros on an annual basis, with fourth-quarter performance slipping year on year from a 38 million euro profit to a 333 million euros loss. That weaker annual loss was in part due to a nearly 1 billion euro provision after it settled in a long-running U.S. case over its Respironics devices.

Jakobs said 2024 had been a “pivotal” year for Philips in which it had reduced liability and improved its fundamentals, including margin expansion and strong cash generation.

— Jenni Reid

Philips sales slightly higher but miss expectations amid China weakness

Dutch health-care technology group Philips on Wednesday

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comparable sales growth of 1% for the fourth quarter and 1% for the full year 2024, as strength in North America was offset by a double-digit decline in China.

The quarterly figure was below market expectations, according to Reuters.

Sales fell in its Diagnosis and Treatment and Personal Health units, and rose 7% in its Connected Care business.

The company said its

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was for 1%-3% comparable sales growth in 2025, with a mid- to high-single-digit decline in China.

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Philips share price.

European stocks are outperforming their U.S. counterparts — but for how long?European markets: Here are the opening calls

European markets are expected to open in mixed territory Wednesday.

The U.K.’s FTSE 100 index is expected to open 5 points lower at 8,763, Germany’s DAX up 9 points at 22,868, France’s CAC down 12 points at 8,209 and Italy’s FTSE MIB 58 points higher at 38,686, according to data from IG.

Earnings come from BAE Systems, Glencore, Rio Tinto, Koninklijke Philips and Carrefour.

Data releases Wednesday include the latest U.K. inflation data. Economists polled by Reuters expect the U.K.’s consumer price index to have risen to 2.8% in January, up from 2.5% the previous month.

— Holly Ellyatt

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#stock #moves #inflation #data #earnings

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