Daimler Truck shares fall as it flags rising headwinds in Europe
** Shares in Daimler Truck DTGGe.DE are down 5% after the German truck maker warned of rising headwinds in the European market, casting shadow over Q1 profit beat
** While a strong performance at its Trucks North America business drove better than expected adj. EBIT for the group level, Daimler Truck says it expects further headwinds in Europe
** The company reports Q1 adj. EBIT of EUR 1.21 billion ($1.30 billion), above analysts' consensus of EUR 1.17 billion
** But it says normalisation in demand and a weak economy in Europe are expected to impact its Mercedes Benz business, which focuses on Europe
** J.P.Morgan highlights the strong start to 2024, but notes the warning on European headwinds
** RBC analyst Nick Housden also notes that U.S.-based peer Paccar PCAR.O "sold off sharply earlier this week when it made a modest downgrade to its market outlook"
($1 = 0.9319 euros)
Reporting by Isabel Demetz
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