Phillips falls after US call for more tests in sleep apnea case

Phillips falls after US call for more tests in sleep apnea case

Monday, 15 November 2021 16:47

Amsterdam (ANP) – Philips lost more than a tenth of its value on the Amsterdam Stock Exchange on Monday. The U.S. regulator has asked the FDA Healthcare Technology team for further testing on problems with ventilators for home use in patients with asthma.

The foam used in devices to reduce noise is dangerous. Not only does it break down into smaller particles, it can also release some chemicals, for example after contact with some cleaning agents. Philips has already begun repairing and replacing sleep apnea devices in the United States. In total, this is about 3 million to 4 million devices. Philips has set aside a total of 500 million euros for this purpose. That amount is independent of the money that can be lost in Philips cases.

At Beursplein 5 the AEX index ended 0.4 percent higher at 823.21 points. Midcap was up 0.2 percent at 1091.92 points. London, Frankfurt and Paris rose 0.5 per cent.


Aholt Telhais was the biggest winner, adding 3.5 percent to the big funds. The team wants to bring to the stock market in Amsterdam to allow the online store to grow further.

Chip machine maker ASML has been gaining traction. European Commission President Ursula van der Leyen accompanied by outgoing Prime Minister Mark Rutte. During the visit, Chips discussed opportunities and challenges in the industry with CEO Peter Wennink and other company managers. ASML won 1.6 percent.


The focus went on the shell as well. The oil and gas company announced in the paper that it wanted to become fully British, which is why its headquarters should be moved to London. According to Shell, simplifying the structure should ensure that the company operates faster and more flexibly. Investors hailed the announcement, raising shares 2.2 percent.

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Heineken rose 1.1 percent. The brewery wants complete control over its distilleries, Distel and Namibia Breweries (NBL). The multi-billion dollar acquisitions will enable Heineken to compete more effectively with competitors such as Anheuser-Busch InBev and beverage manufacturer Diageo.

The euro was trading at $ 1.1423 against $ 1.1446 on Friday. U.S. oil prices fell 1 percent to $ 79.99 a barrel. Brent oil was 1.2 percent cheaper at $ 81.18 a barrel.

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