What Happened to Genworth’s Share Price?
Shares in Genworth Mortgage Insurance [ASX:GMA] are trading just under the all-time high of $3.96. The stock is also moving up alongside the bullish trend of the general market at the moment.
Why Did This Happen to Genworth Shares?
The stock market is pricing in strong earnings for the company ahead of its results announcement. Genworth is a mortgage insurer. It protects lenders from borrowers with a higher risk profile. With Australia’s high real estate prices, people with deposit sizes below 20% of the property purchase price need to pay this insurance.
What Now for Genworth?
According to the company, it will ‘issue its financial results for the full year 2014 prior to the market opening on 11 February, 2015.’
Editor, Markets and Money