The major carmakers VW and Mercedes-Benz had difficulty scoring points with investors on Thursday with their quarterly figures.

Volkswagen, in particular, suffered losses of more than three percent on the DAX. Although the Group significantly increased its operating result in the second quarter thanks to decreasing supply bottlenecks, it has become more cautious in its sales forecast due to the uncertain economy. Mercedes-Benz shares started up to 1.7 percent weaker, but were up 1.4 percent in the morning. Following a significant increase in earnings in the second quarter, the DAX-listed company raised its profit target for the current year. RoboMarkets strategist Jürgen Molnar drew a positive conclusion with regard to the balance sheets: Things are looking up again with the German carmakers, the analyst stated. However, share prices are lagging behind the good news. "Investors don't seem to trust the news yet."

(Report by: Daniela Pegna, edited by Hans Seidenstücker. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)