FRANKFURT (dpa-AFX) - Auto1 shares continued to benefit ahead of the weekend from a strong outlook from industry peer Carvana in the United States. After rising two percent on Thursday, shares in the German car dealer gained as much as 9.2 percent to 8.90 euros at the top of the SDax on Friday. They are now back at their highest level since mid-January, and just above the exponential 200-day line.

U.S. used car platform Carvana expects adjusted positive operating earnings of more than $50 million for its second quarter due to reduced costs. Analysts, on average, had expected a loss of $6 million, by contrast, a trader said, pointing to the 56 percent rise in Carvana's stock price the previous day in NYSE trading.

"Auto1 Group is also benefiting from the rebound in demand for used cars," added market expert Andreas Lipkow. "After cooling noticeably following rapid growth in 2021 and 2022, sentiment is now improving again." As a result, platform operators are once again coming more into the focus of investors./ck/ag