Axa hits over 3-month low as in-line results fail to capture investors

** Shares of AXA CS slide as much as 7% to its lowest since late April, as the French insurer's half-year results fell short of investors expectations

** AXA's total underlying earnings for the period came roughly in line with the consensus at 4.47 billion euro ($5.11 billion)

** However its net income lagged at 3.92 billion versus 4.25 billion expected by the analysts

** Berenberg analyst Michael Huttner says that considering the stock has enjoyed a "huge run", investors must have seen no upside after in-line results

** "The market was presumably expecting results to above", notes Huttner

** J.P.Morgan says that while in P&C business there was a continued margin expansion in personal lines, the commercial lines margins have started to deteriorate slightly, particularly at AXA XL

** Up to the previous session's close, shares up 24.4%​ YTD

($1 = 0.8751 euros)