European markets open higher as traders look ahead to Fed meeting; Philips up 29%, Atos up 18%

European markets opened higher on Monday as investors look ahead to more central bank decisions, earnings and data this week. The regional Stoxx 600 index was up 0.37% at 9:24 a.m. in London, with sectors mixed. Philips shares soared 33% after the Dutch medical devices giant agreed a $1.1 billion settlement in a U.S. case linked to the recall of some of its devices used to treat sleep apnea. France’s Atos rose 18% at the open after confirming the French government had made an offer for three strategically important parts of the business, advanced computing, critical systems and cyber products. The U.S. Federal Reserve’s latest interest rate announcement will come Wednesday, and follows another hotter-than-expected U.S. inflation reading last Friday. The central bank is widely anticipated to keep the borrowing cost unchanged, but investors will still closely monitor the post-announcement press conference with Chair Jerome Powell. S&P 500 futures inched higher Sunday night as the broad index came off its best week in several months. Overnight, the Japanese yen weakened to 160 against the U.S. dollar as stocks in Asia-Pacific markets climbed. European stocks were cautiously higher Monday morning, with the benchmark Stoxx 600 index opening in the green and trading 0.32% higher at 9:07 a.m. in London. The U.K.’s FTSE 100 was up 0.46%, while Germany’s DAX and France’s CAC 40 were higher by 0.24% and 0.34%, respectively.