outlook came as rwe reported a 7% rise in first half adjusted earnings in line with estimates. they're also promising a special dividend, something investors like to hear speaking to the ceo at 11:30 that's an interview you don't want to miss. >>> james butterfield, head of research and investment strategy at etf securities. the earnings season is slowly but surely coming to an end. what do you make of it >> pretty good bottom line, growth has been fantastic. there are a couple of problems on the horizon, one is revenue if you look at the financial and energy sector, revenues have been disappointing really. and what we think is it is strength of euro you strip the companies which have more than 40% revenues outside the euro, you find that revenue growth is much more healthy. clearly this is a problem. >> at what point does the exchange rate become problematic for german exporters and 114, 115, obviously the levels that we have seen of late, 118, 119 at some point, surely those would create headaches at what point do you think they're more comfortable with the exchange rate? >>