Munich Re: stock up after quarterly results.
(CercleFinance.com) - The Munich Re stock is keeping its head above the water in Frankfurt, rising 0.
8% after the Bavarian reinsurance group published quarterly earnings that are down by a quarter at 733 million euros, although which are still above the consensus.
The group explains that it has benefited from high investment income and a random impact of below-average major losses, factors which are offset by translation losses relating to the appreciation of the euro.
Posting robust earnings of nearly 1.3 billion euros over the first six months of the year, Munich Re's management is well on track to reach its full-year target range of 2 billion to 2.4 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
8% after the Bavarian reinsurance group published quarterly earnings that are down by a quarter at 733 million euros, although which are still above the consensus.
The group explains that it has benefited from high investment income and a random impact of below-average major losses, factors which are offset by translation losses relating to the appreciation of the euro.
Posting robust earnings of nearly 1.3 billion euros over the first six months of the year, Munich Re's management is well on track to reach its full-year target range of 2 billion to 2.4 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.