It has been a disappointing end to the week for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade it has sunk over 0.2% lower to 5,996 points.
Four shares which have fallen more than most today are listed below. Here's why they are ending the week in the red:
The Genworth Mortgage Insurance Australia (ASX: GMA) share price is down over 2% to $3.05 after providing the market with an update and its full-year guidance. Its shares were down over 5% at one stage after advising that net earned premiums are expected to be 17% to 19% lower this year, compared to previous guidance of a 10% to 15% fall.
The Macquarie Atlas Roads Limited (ASX: MQA) share price has sunk 4% lower to $6.11 after the bankers at Macquarie Group Ltd (ASX: MQG) offloaded a $441 million stake in the toll road company. According to the AFR, Macquarie Group was looking for bids between $5.80 and $6.10 per share from interested institutional investors.
The Myer Holdings Ltd (ASX: MYR) share price has continued its slide lower and is down a further 3% to 64 cents. Today's decline is likely to be in relation to a note out of UBS which revealed that its analysts have retained their sell rating and lowered the price target on the department store operator's shares to 60 cents following yesterday's disappointing trading update.
The SG Fleet Group Ltd (ASX: SGF) share price has fallen 3% to $3.96 despite there being no news out of the fleet management company. Earlier today rival Smartgroup Corporation Ltd (ASX: SIQ) was given an outperform rating and $11.20 price target by analysts at Macquarie. Investors may be selling out of SG Fleet and buying Smartgroup shares.
