European markets from open to close: Stoxx, FTSE, DAX

Shares in Philips fell 6.2% in mid-morning trading after the Dutch conglomerate said it missed earnings expectations and reached a settlement with the U.S. Food and Drug Administration over a ventilator recall.

The company booked a 363 million euro ($393.5 million) provision in its contract with the FDA in the fourth quarter, which includes a provision to allow the new respiratory device to be sold again in the United States. Necessary improvements are also detailed.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were €653 million, slightly higher than in the same period last year, but comparable sales were down 1%.

Analysts in a poll compiled by the company expected EBITDA of 672 million euros and sales to rise 2.6%.

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— Jenny Reid

Holcim CEO and Chairman Jan Jenisch talks to CNBC about the building materials giant’s plans for a U.S. spinoff.

European markets are trending slightly lower, according to IG data.

Britain’s FTSE 100 fell 9.6 points to 7,636 and Germany’s DAX fell 42.5 points to 16,918. France’s CAC 40 is expected to fall by 3.8 points to 7,633, while Italy’s MIB is looking to buck this trend, rising by 5 points to 30,546.

— Jenny Reid

Oil prices rose after a missile fired by Iranian-backed militants killed a US soldier in Jordan.

On Monday, global benchmark Brent crude oil traded 0.35% higher at $83.84 per barrel, while U.S. West Texas Intermediate futures rose 0.42% to $78.34 per barrel.

Three U.S. service members were killed Sunday in an unmanned aerial drone attack on troops stationed at an outpost in northeastern Jordan near the Syrian border, the White House said.

—Li Yingshan

Evergrande’s Hong Kong-listed shares plunged 12.2% in early trading, but trading was halted on Monday after a Hong Kong court ordered the Chinese property developer to be liquidated.

Evergrande, once one of China’s biggest real estate developers, has been embroiled in Beijing’s debt crisis in recent years.

The world’s most indebted property developer defaulted on its debt in 2021 and announced an offshore debt restructuring program in March last year.

Before the ruling, the Wall Street Journal reported that liquidation of the estate could be imminent after Evergrande’s overseas creditors failed to reach a restructuring agreement in the 11th hour this weekend.

— Shreyashi Sanyal

While demand for artificial intelligence applications is growing rapidly, some non-tech companies are well-positioned to directly benefit from the AI ​​boom in the coming years, according to Scotiabank.

Analysts at the Bank of Canada’s investment banking division have named six stocks that are well-positioned to take advantage of surging demand.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Six of the 30 Dow Jones Industrial Average stocks will report their quarterly results this week.

Microsoft is scheduled to report earnings after the bell on Tuesday. Boeing, hit by problems with its 737 Max 9 planes, will report quarterly results on Wednesday morning.

Honeywell and Merck are expected to report Thursday, followed by Apple. Chevron plans to announce results Friday morning.

— Ha-Kyung Kim