FX option expiries for Jul 29 NY cut

Royal Philips announced a 47% drop in net income for the second quarter, with earnings falling to €240 million from €452 million in the same period last year. This decline primarily stems from the absence of a €538 million one-off insurance gain recorded in the prior year linked to the Philips Respironics recall. Operating income also fell markedly to €400 million from €816 million.

Asian currencies steadied on Tuesday following sharp declines in the prior session, as the U.S. dollar gained support after the announcement of a trade agreement between the United States and the European Union.

Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.

Tesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.

Bitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.