Daimler cuts 2019 profit outlook on diesel issues; shares slump 3% in Q2

A profit warning from Merc maker Daimler dampened European stock markets early on Monday, as investors looked for direction to a G20 summit this week that brings US and Chinese leaders together after a long lull in talks.

Daimler’s shares dropped 3 per cent after it cut its 2019 earnings outlook on Sunday and lifted provisions for issues related to its diesel vehicles by hundreds of millions of euros.

That sent peers Volkswagen, Bayerische Motoren Werke and Porsche Automobil Holding down about 1 per cent.