Munich Re: 2018 guidance and buybacks reassure
(CercleFinance.com) - Shares in Munich Re are up 1.
5% on Thursday morning, after the German reinsurer provided a profit guidance of 2.1-2.5 billion euros for 2018 and that it expects to continue its share buy-backs.
The outlook slightly exceeds the guidance that had been projected for the previous year, with initial earnings guidance for 2017 of between 2 billion and 2.4 billion euros, the group said.
UBS said the guidance was "good enough."
"2018 net income guidance shows small improvement versus 2017, largely in-line with expectations," the broker said.
UBS also noted that buy-backs were "as expected".
Munich Re also announced today that it would buy back another 1 billion euros worth of shares before its AGM in 2019.
As a result, the Xetra-listed shares were up 1.5% at 184.6 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% on Thursday morning, after the German reinsurer provided a profit guidance of 2.1-2.5 billion euros for 2018 and that it expects to continue its share buy-backs.
The outlook slightly exceeds the guidance that had been projected for the previous year, with initial earnings guidance for 2017 of between 2 billion and 2.4 billion euros, the group said.
UBS said the guidance was "good enough."
"2018 net income guidance shows small improvement versus 2017, largely in-line with expectations," the broker said.
UBS also noted that buy-backs were "as expected".
Munich Re also announced today that it would buy back another 1 billion euros worth of shares before its AGM in 2019.
As a result, the Xetra-listed shares were up 1.5% at 184.6 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.