Here are 3 ASX 200 shares making market moves today

Genworth Mortgage is currently the ASX 200 biggest mover and shaker…

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The S&P/ASX 200 Index (ASX: XJO) is having a pretty ho-hum kind of day today. At the time of writing, the ASX 200 is down 0.14% to 7,297 points. Let’s check out the 3 ASX 200 shares that are topping the list of trading volumes today:

3 ASX 200 shares making moves today

Telstra Corporation Ltd (ASX: TLS)

ASX telco Telstra is the first ASX 200 share with a high trading volume to note today. So far, a hefty 9.19 million TLS shares have changed hands on the share market. This could be a result of the movements of the Telstra share price today. Telstra opened at $23.59 this morning but quickly fell all the way to $3.55 soon after, only to rebound back to $3.59 where it currently stands. This volatility might be behind such a large volume of Telstra shares trading today.  My Fool colleague James looked at the kind of dividend investors can expect from Telstra right now this afternoon.

Boral Limited (ASX: BLD)

Construction company Boral is another ASX 200 share that is making its way around the ASX boards today. At the time of writing, a substantial 9.65 million Boral shares have swapped owners on the markets today. Like other shares in its sector, Boral has been caught up in the market’s malaise today and is currently down 0.14% to $7.34 a share after briefly dipping as low as $7.30 just after open this morning.

This may be related to Boral’s rejection yesterday of a revised takeover bid from Seven Group Holdings Ltd (ASX: SVW). Seven upped its offer from $6.50 a share to $7.40 yesterday. Like its former offer, this latest bid was also swatted away by Boral’s board, who still think Seven is undervaluing the company.

Genworth Mortgage Insurance Australia Ltd (ASX: GMA)

Mortgage insurance provider Genworth takes the crown as the most traded ASX 200 share today, pipping the usual occupant Pilbara Minerals Ltd (ASX: PLS). A huge 14.63 million Genworth shares have been bought and sold today. This is almost certainly the result of what has happened to the Genworth share price itself. At the current time, Genworth shares a down a very nasty 13.58% to $2.20 a share.

What happened? Well, Commonwealth Bank of Australia (ASX: CBA) has come out today and said that it wants a new proposal from Genworth regarding the exclusive Lenders Mortage Insurance agreement that the two companies share before the current agreement expires on 31 December 2022. This has clearly spooked the markets and is probably the reason why Genworth shares are flying around the ASX today.

 

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Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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