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Daimler issues profit warning on diesel woes, shares hit 5-year low

Daimler issues profit warning on diesel woes, shares hit 5-year low
The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau - Copyright REGIS DUVIGNAU(Reuters)
Copyright REGIS DUVIGNAU(Reuters)
By Reuters
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FRANKFURT (Reuters) - German luxury carmaker Daimler AG <DAIGn.DE> issued a profit warning on Friday, saying that costs arising from "government proceedings and measures" concerning its diesel vehicles were mainly to blame.

Daimler said it expected its full-year earnings before interest and tax to be significantly below last year's level.

The company's shares fell to a five-year low on the news, and dragged down shares in other European carmakers.

(Reporting by Douglas Busvine; editing by Thomas Seythal)

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