Royal Philips Electronics NV, the world’s biggest lighting company, said first-quarter net income fell to 137 million euros ($197 million), missing the 165 million-euro average of 15 estimates in a Bloomberg survey.
ALL TIMES CET
WHAT TO WATCH: *Wereldhave (WHA NA), Kendrion (KENDR NA) to host AGMs.
EQUITY MOVERS: *Ajax (AJAX NA) CEO to step down. *ArcelorMittal (MT NA) raised to “buy” from “neutral” at Goldman Sachs. *Heijmans (HEIJM NA) wins order worth about EU55m. *KPN (KPN NA) is one of Citi’s preferred telecom names. *Prologis European Properties (PEPR NA): Goodman, APG expected to lift indicative bid, to EUR6.20 euro from 6 euro a share, Australian Financial Review said, citing unidentified people. *Spyker Cars (SPYKR NA): Swedish government approved with conditions a finance plan for Saab unit. *Telegraaf (TELEG NA): Finland’s Sanoma submitted highest bid for ProSiebenSat.1’s Dutch TV stations, De Standaard said. *Unilever (UNA NA) added to UBS’s least preferred list
BOND SALES/PURCHASES 12:00 p.m.: Netherlands to sell up to EUR3b in 100-day bills 12:00 p.m.: Netherlands to sell up to EUR3b in 254-day bills
MARKETS: *The Amsterdam Exchanges Index fell 0.1 percent to 359. *The Stoxx Europe 600 Index added 0.3 percent to 277.78. *The Euro was at $1.4369 at 7:55 a.m. *The Dutch 10-year bond yield was 3.627 percent at 7:55 a.m.