FRANKFURT (dpa-AFX) - Positive statements made during a pre-briefing on the annual figures boosted Volkswagen shares on Thursday. In early Xetra trading, they were among the favorites on the DAX, rising by 1.8 percent. The environment in the automotive sector was mixed, as the sector index was down at European level. BMW and Mercedes-Benz showed relatively little movement, while Porsche AG shares fell by one percent.
Analyst Stephen Reitman from Bernstein Research spoke of "more optimistic statements" that had been made the previous evening in an analyst meeting ahead of the annual figures. Such meetings are a common practice for large European companies to give analysts some guidance. Reitman said the tone at Volkswagen had been better than at sports car subsidiary Porsche AG the day before.
As Reitman described in more detail, Volkswagen had described the consensus expectation of earnings per share of 21.80 euros for 2024 as a "reasonable estimate". With regard to the commercial vehicle subsidiary Traton, the Group remains of the opinion that it would be in a better position with a higher free float and that this remains on the agenda./tih/jha/
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