Daimler shares rise as Mercedes drives sales

Shares in Daimler rose after the company solidified its lead in the luxury-car market and said it’s confident of reaching this year’s underlying profit goals, despite more than €1bn in one-time costs in the second quarter.

Adjusted earnings before interest and taxes rose 5.6% to €3.97bn in a preliminary tally, “significantly” beating analyst expectations, the automaker said.

Daimler benefited from gains in vans and buses while earnings dropped at the trucks and the Mercedes Cars division.