FRANKFURT (dpa-AFX) - Encouraging statements on profitability only briefly drove the shares of Mercedes-Benz in a nervous market environment on Friday. After a positive start, the share price recently fell somewhat, as did the entire European sector index Stoxx Europe 600 Automobiles & Parts and the German benchmark index Dax. Most recently, the share price of Mercedes-Benz was down 0.8 percent, while the papers of the other German premium carmakers BMW and Porsche AG fell slightly more, by up to 1.5 percent.

Economic worries and inflation data from the euro zone were seen as a slight drag on the stock market. While price inflation in Spain picked up in April, figures from Germany showed the economy had made an anemic start to the year. "Germany is consolidating at a low level and cannot drag Europe along at all at the moment," said market expert Daniel Saurenz of Feingold Research. On the overall market, it was said that investors were also already positioning themselves for the upcoming May, which is preceded by the reputation of a weak stock market month.

The Mercedes share was not helped in the long term by the fact that the carmaker, after a good start to the new year, is confident that it can achieve a little more in terms of profitability. In the core business with passenger cars, CFO Harald Wilhelm now expects a performance at the upper end of the previously expected range of 12 to 14 percent for the year as a whole. In the van segment, management is raising the margin target to 11 to 13 percent. For the Group as a whole, the previously envisaged targets remain unchanged.

Analyst Philippe Houchois of Jefferies Research attested Mercedes a strong quarter with a look at the details. He said the first quarter was supported by a volume, product and pricing mix, while there were headwinds on other points. Total sales climbed 8 percent in the first three months, outpacing unit sales, to 37.5 billion euros. Net profit increased 12 percent to just over four billion euros./tih/la/jha/