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.

Volkswagen, Daimler, BMW, and auto suppliers Bosch and ZF said they were co-operating with German authorities after their offices were searched as part of a steel price fixing investigation.

Shares of Daimler slid more than 5.5%, hit by news that the US Department of Justice had asked the car maker to investigate its emissions certification process for vehicles, including its Mercedes brand.

Shares in German carmaker Daimler, the owner of Mercedes-Benz, dropped by nearly 7% in morning trading after it revealed it is conducting an internal investigation into its emissions testing process at the request of the US Department of Justice (DoJ).

Mercedes, Ferrari, Aston Martin, and Daimler have all revealed new models that would make James Bond salivate, writes Hannah Elliott