Daimler Shares Jump As Cash Reserves Increase

Daimler AG reported a growing cash cushion and its quarterly earnings beat forecasts in a sign that the company was weathering the worst industry downturn in decades better than expected.

"The figures are just over-dimensionally good. They are the highlight of the day," said one Frankfurt trader as shares in the maker of Mercedes-Benz cars rose 7 percent to close at 37.62 euros. Germany's blue-chip index was up 1.9 percent.

Automakers around the world have been trying to shore up their cash supply as demand for cars dropped amid the global economic crisis and growing inventories weighed.


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Yonder7 - 10/19/2009 4:45:14 PM

+1 Boost

Well if they continue improving the reliavility as they are doing they will be back to top of the luxury market.