Daimler DAIGn.DE shares surged 4.5 per cent on Friday after the luxury carmaker posted forecast-beating third-quarter results, buoyed by a better-than-expected rebound in sales of luxury cars in September.
European car registrations rose slightly in September, the first increase this year, industry data showed on Friday, suggesting a recovery in the auto sector in some European markets where coronavirus infections were lower.
Swedish truckmaker AB Volvo VOLVb.ST also posted third-quarter core earnings well above forecasts thanks to a healthy jump in orders.
Daimler’s third-quarter earnings before interest and tax reached 3.07 billion euros ($3.59 billion), it said late on Thursday, beating the 2.14 billion euro Refinitiv consensus.
The Stuttgart-based company is due to publish further financial details on Oct. 23 and said it will publish updated guidance for the full year at that time.