Daimler Profit rises on sales of Mercedes-Benz S-class in China

April 29, 2011, 4: 36 pm EDT by Chris Reiter

(Updates with comments from the CFO from eighth paragraph, 12 analyst comment).

April 29 (Bloomberg) - Daimler AG, the second world - large manufacturer of luxury cars, reported a gain of 71 per cent in the first quarter operating profit that the culture of wealth in China deliveries stimulated sedan Mercedes-Benz class s profit before interest and taxes increased to 2.03 billion euros (3.01 billion) (from $ 1.19 billion euros a year earlier, Daimler based in Stuttgart (Germany), said today in a statement. Profit matched the mean estimate of 2 billion dollars-euro 12 analysts interviewed by Bloomberg.China more and more the economy is fueling record demand for luxury of Mercedes, Bayerische Motoren Werke AG and Volkswagen AG Audi cars. VW reported this week that Ebit has more than tripled 2.91 billion euros supported by demand for models Audi in China, while VW Lamborghini supercar unit can sell more vehicles only to the United States for the first time this year. "" By Volkswagen figures report a few days ago, it is much less dynamic ", said Juergen Pieper, an analyst based in Frankfurt with Bankhaus Metzler, which recommends the purchase of the shares. "The results are nothing special."Daimler, which is also largest truckmaker in the world, has not followed the profitability of competitors. First quarter Ebit of Mercedes-Benz to 9.3% of revenue towed margin of 10.6% Audi. Return on sales posted by unit of Daimler trucks of 6.6% is under Volvo AB 9.4%. Net income of Daimler increased 59% to€ 1.06 billion as income earned 17 percent to EUR 24.7 billion.FallsDaimler stock fell as much as € 1.33, or 2.5%, with 51.76 euros, the intraday drop steeply in two weeks and down 2.2% starting from 10 h 29 in Frankfurt trading. The stock increased 2.4 percent this year, valuing the company at EUR 55.4 billion.The company held to its forecast for "significant" Ebit higher in 2011 that last year 7.2 billion euros. Daimler expects prospects for the C-class updated and reorganized roadster SLK to outweigh the potential impact of the earthquake of last month at the Japan, which led to EUR 78 million in costs in the first quarter.Additional charges of€ 50 million to 100 million euros related to the earthquake may be reserved for the second quarter, Chief Financial Officer Bodo Uebber said today on a conference call.Faster growth of 125 years German constructor TargetedThe aims to exceed the growth of the global automotive markets, Daimler estimated that 5 to 7 percent this year, said Uebber. Deliveries increased by 13% in the first quarter to 281,000 cars, supported by a jump of 25 percent in shipments of class s and a wave of 78% of the demand from China. Audi vehicle sales increased by 18%.Mercedes-Benz will introduce a new version compact class b later this year. The model is the first of a series of four new small cars. Daimler is building a plant in Hungary to support the expansion, which is part of a strategy to reduce emissions of fuel average and win young drivers. Mercedes will also present a redesigned 2011 M-class sport utility vehicle. EBIT of Mercedes-Benz cars is 60% in the quarter to EUR 1.29 billion.Truck ProfitLike other truckmakers, Daimler has to recover in North America and Europe demand for heavy trucks, the global financial crisis. The company, which owns truckmaker Kawasaki, Japan Fuso as well as Freightliner based, to the United States said the trucks unit operating profit more than tripled to EUR 130 million EUR 415 million a year earlier. "" It is a disappointment, "said Arndt Ellinghorst, an analyst based in London with Credit Switzerland, with a neutral rating on the stock. Margins to Daimler Trucks "are well below Volvo, and it is their main competitor.Truck division has a load of 49 million euros related to damages and loss of production caused by the earthquake of 11 March to Japan, where planting a Fuso are still exercise production after closure after the disaster. Daimler booked charges of 29 million euros to take financial services unit has lost potential claims because of the earthquake.Contentée comparison with Volvo Uebber, saying that best months are coming for the Daimler truck division and that competition with the Swedish manufacturer is decided by a quarter.Daimler and manufacturer of aircraft London Rolls Royce Group Plc-based engine jointly seek to buy Tognum AG, a manufacturer of engines in which Daimler holds a participation of 28.4%. The manufacturer is committed to its participation in the offer, which expires on May 18 that contenders have blocked a 24-a-part euro bid, even if the stock Tognum flew over the offer price. Uebber, reiterated today that Rolls Royce and Daimler don't see a reason to increase the price.

-Editors: Tom Lavell, Chad Thomas

To contact the reporter on this story: Chris Reiter in Berlin at the creiter2@bloomberg.net

To contact the editor responsible for this story: Thomas Chad at the cthomas16@bloomberg.net

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Oil rises ahead of data supply us on signs of economic recovery

April 20, 2011, 8: 32 pm EDT by Grant Smith and Ben Sharples

April 20 (Bloomberg) - oil rose for a second day in New York before a weekly report from the U.S. Government on levels of supply, in the signs that recovery in the largest economy of the world supports fuel consumption.

Future earned as much as 1.6%, while that the dollar traded near its lowest level against the euro in a more than a year, boost the appeal of protection products against inflation. The Energy Department will publish its report today. The funded by industry American Petroleum Institute, said yesterday that gasoline inventories fell by 1.8 million barrels to 212 million. Pink European actions, with addition of 1.6% Stoxx 600. "It is generally better feeling for risk assets as equity markets rise, said Hannes Loacker, an analyst with Raiffeisen Bank AG in Vienna. "Oil fundamentals still look OK in emerging markets." However, a price of $120 to $ 130 is likely to reduce demand. The high price of oil may become the greatest risk in itself. "The oil for delivery in June as $1.71 to $109.86 barrel increased on the New York Mercantile Exchange and was at $109.61 at 1: 24 p.m. London time. Brent crude for the settlement of June soared $ 1.36, or 1.1%, to $122.69 a barrel on the ICE Futures Europe Exchange bonus of London.Brent to benchmark U.S. restricted for a second day at $13.04 per barrel. Yesterday, crude in New York added 59 cents to $108.18, the highest settlement since April price 15.U.S. EconomyPurchases of U.S. existing homes climbed 2.5 percent in March after having dropped 9.6% in Februarya survey of Bloomberg News before the National Association of Realtors report today."A work report yesterday showed the Commerce Department began 549,000 homes at an annual rate, 7.2 percent the prior month and exceeding forecasts median 520 000 economists surveyed by Bloomberg News".The weakness of the dollar and more strong equities offset concerns over European sovereign debt and the slowdown in demand for high oil prices, "Mark Pervan, product manager of research in Australia & New Zealand Banking Group Ltd.. in Melbourne"said in a note today.The Dollar Index, a measure of currency compared to those of six U.S. business partners, have slid for a second day to 74.68, Bloomberg data showed. It fell by 5.5% since the beginning of the year. A decline of the dollar makes commodities prices in the currency of the United States more attractive for investors. The motto of the United States was at $1.4468 against the euro.StockpilesU.S to the United States. oil crude stocks barrels roses 667,000 week last 356.1 million, according to the industry-funded American Petroleum Institute. A report of the Department of energy can today show supplies increased by 1.3 million barrels of 359.3 million, according to Bloomberg News of analysts of.The Commerce Department said the work started on 549,000 homes at an annual rate, 7.2 percent the prior month and exceeding the estimated median 520 000 economists surveyed by Bloomberg News. The standard & poor 500 Index added 0.6 per cent to 1,312.62 4 hours near New York.Oil advanced 20 percent in New York this year. Unrest in the Middle East and the North Africa reversed the leaders in Egypt and Tunisia and extend to the Libya, Algeria, Bahrain, Iran, Oman, Syria and the Yemen. Jamahiriya gross production that an average of 1.6 million barrels per day last year, has declined to 390,000 barrels per day in March, a survey of Bloomberg News producers, analysts and companies.Nigerian President Goodluck Jonathan has suspended his Interior Minister after protests against his election victory has killed at least six people in the largest producer of oil in Africa. Clashes between Christians and Muslims erupted for a second day in the city of North of Kaduna, Shehu Sani, head of the civil rights Congress, said on April 18.

-With the help of Christian Schmollinger at Singapore. Editors: John Buckley, Raj Rajendran

To contact the reporter on this story: Ben Sharples in Melbourne to Grant Smith in London bsharples@bloomberg.net to the gsmith52@bloomberg.net

To contact the responsible editor of the story: Stephen Voss on sev@bloomberg.net

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Houses in Manitoba more evacuated as Red River rises

About 50 homes North of Winnipeg were evacuated Saturday morning because of rising waters, a provincial agency has opened the doors of the Red River Floodway.

Homes, mainly on the road to Jenny in the Netley Creek area of rural municipality of St. Andrews, are more accessible by road, and residents are having to leave by boat. Evacuations began Saturday morning to 8 pm CT.

An elderly couple was forced to leave their homes and left by boat late Friday night when flood waters invaded their property.

He was part of a night tense for emergency teams in the region such as jams developed and then exploded several times, creating rapid and unpredictable rises and falls in water levels.

A voluntary evaucation notice was still in force in the rural municipality of St. Andrews. Sean Kavanagh CBC "it surprises you each time: where and when it will stop,"Darcy Hardman, the Coordinator for emergency in St. Andrews, told CBC News.""We just go with the beating. ?

On Saturday, emergency officials were asking other owners in the area to prepare to leave quickly, collection of drugs and other personal items of value so that they can move at any time.

An ice jam that led to flooding Friday on Breezy Point Road was to the North, the prefect of St. Andrews, said Saturday.

Don said Forfar CBC News he hoped to provincial officials, who monitor developments with a helicopter, on the current location of the jam hear.

He said that the new concern is Netley Creek.

"That whole area we expected," said Forfar. "We have always believed that Netley Creek was vulnerable".

Forfar, said that the rural municipality has continued its notice of voluntary evacuation.

"Some people have left and many remain", he said. "And what we said people is: you can stay, but you do not have to be prepared." Which means not only you have to have your pumps, but you have gas flow, or is it power you would better have a generator if the power goes because if you leave, you get back again. ?

He said 50 houses that have been affected by flooding many were cottages.

In St. Clements, across the Red River, there is no evacuation of the overnight despite previous alerts. All 40 houses which have been considered at risk as ice jams threatened to cause flooding backup were still high and dry Saturday morning.

St. Clements Mayor Steve Strang told CBC he gives credit for this fact to the residents by adopting a more proactive approach on sandbagging this year than in past years, when many homes were flooded.

"I was so pleased that we did not send our people to emergency y to save the lives of other people again this year", he said. "To relive that would have been totally wrong…."

"I remember people standing on their desks, their roofs, waiting to be registered in 2009".

During this time, the diversion canal to divert water from the Red River, mounted around the capital of the city of Winnipeg was activated as expected Saturday morning.

The water runs in Winnipeg (background) Floodway to prevent flooding of the Red River (first plan) within the city in April 2009. Areas to the North and South of Winnipeg have suffered from high water in the spring. John Woods/Canadian water PressManitoba had announced late Friday that the Red River Floodway would open its inlet control structure to 9 pm CT, with a horn begins one-half hour prior to the neighbouring alerts.

"The progressive lifting of the doors is designed to protect the city of Winnipeg, while now water levels in the South of the entrance of the Floodway to natural levels," officials said in a Friday newsletter.

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