It has been a volatile day, but in late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the month with a gain. At the time of writing, the benchmark index is up 0.2% to 6,805.4 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:
AMP Ltd (ASX: AMP)
The AMP share price is up 4.5% to $1.32. This follows the announcement of the exit of its CEO Francesco De Ferrari. Mr De Ferrari will be replaced by Alexis George from Australia and New Zealand Banking GrpLtd (ASX: ANZ). Ms George is the Deputy CEO at ANZ and was previously the Group Executive Wealth Australia. She oversaw the sale of the latter business in 2018. The new CEO will join the company in the third quarter of 2021.
Boral Limited (ASX: BLD)
The Boral share price has jumped 6% to $5.82. This morning the building products company announced the completion of the sale of its 50% share in the USG Boral joint venture to Gebr Knauf KG. Boral has commanded a price of US$1.015 billion (A$1.33 billion) for the business. While some of the proceeds will be used to pay down debt, a good portion will go towards a share buyback for up to 10% of its issued capital.
Rhipe Ltd (ASX: RHP)
The Rhipe share price has surged 7% higher to $1.67. Investors have been buying the cloud and technology solutions provider’s shares after it announced agreements to acquire EMT Distribution (Australia) and EMT Distribution (Singapore) for $11 million in cash. EMT is an Australian headquartered cyber security distribution specialist. It focuses on sourcing innovative security software vendors and working with channel partners to deliver both on-premise and cloud-based security solutions.
Zoono Group Ltd (ASX: ZNO)
The Zoono share price has rocketed 31% higher to 78.5 cents following the release of a company update. This morning the biotech company announced that its flagship product, Zoono Microbe Shield, has now been successfully tested against the Human Coronavirus 229E and now meets the US EPA Standard ASTM E1053.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Rhipe (ASX:RHP) share price rises on cyber security acquisition
- Here’s why the Boral (ASX:BLD) share price is storming 5% higher
- AMP (ASX:AMP) share price on watch after announcing CEO change
- BlueScope (ASX: BSL) share price could get cut of Biden’s US$3tn boost
- AMP (ASX:AMP) share price slides on Ares update
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why AMP, Boral, Rhipe, & Zoono shares are pushing higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3maablf
Leave a Reply