Daimler Shares Rise on Earnings Beat

Shares in Daimler surged Tuesday after the luxury carmaker reported higher than expected earnings in the second quarter. 
The Stuttgart-based group surprised financial markets with the late-Monday announcement that its adjusted earnings before interest and taxes (EBIT) in the three months to the end of June rose 5.6%, German news agency DPA reported today. EBIT were 3.97 billion euros, up from 3.76 billion euros in the same period last year. 
The announcement, released after the Frankfurt Stock Market closed on Monday, also confirmed Daimler's 2016 outlook, saying annual earnings would increase slightly year-on-year. 
Daimler shares opened Tuesday 3.3% in Frankfurt before climbing by more than 4% as morning trading unfolded.