Munich Re shares up 3% on results

Equity markets responded favourably to Munich Re's Q2
results as the reinsurer's shares ticked up 3.57 percent to
EUR158.25 in early trading on consensus-beating figures.
The share price increase came despite a 9.4 percent year-on-year
profit drop in Q2 after a series of natural catastrophes impacted
the bottom line.
However, Bernstein analyst Thomas Seidl emphasised that the
result was reliant on "extraordinarily" high levels of
realised gains and foreign exchange movements.
He said: "Today's r