European markets rise at trading begins; Philips shares fail to open after company cuts sales outlook

Comparable sales growth is now expected to come in between 0.5% and 1.5% for full-year 2024, the company said. This is down from a previously expected sales growth range of 3% to 5%."In the quarter, demand from hospitals and consumers in China further deteriorated, while we continue to see solid growth in other regions.

Jakobs' comments come after Philips on Monday said{=null} it was cutting its full-year sales outlook after demand in China"deteriorated." Comparable sales growth was flat in the third quarter, Philips said in its earnings release on Monday. According to Reuters, analysts had been expecting 2.1% growth.Oil prices slide more than 4% after Israel's 'limited' attack on Iran

"I think you might have a short-term rally. But that's not really about - it's about sort of the broad based rally," Jason Hsu, founder and chief investment officer of Rayliant Global Advisors says.

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