In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.25% to 7,235.3 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:
Bendigo and Adelaide Bank Ltd (ASX: BEN)
The Bendigo and Adelaide Bank share price is up 4.5% to $9.68. Investors have been buying this regional bank’s shares following the release of its half year results. The regional bank reported an 8.5% increase in revenue to and an 18.7% lift in cash earnings to $260.7 million for the six months. The latter was ahead of expectations. This allowed the bank to increase its fully franked interim dividend by 12.8% to 26.5 cents per share.
Crown Resorts Ltd (ASX: CWN)
The Crown share price is up 2% to $12.65. This morning the casino and resorts operator revealed that it has accepted an $8.9 billion takeover offer from Blackstone. Crown has accepted an offer of $13.10 cash per share. This represents a premium of ~32% to its undisturbed share price on 18 November.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up 5.5% to $51.75. This follows the announcement of a $250 million share buyback with its half year results. In addition, management revealed that the second half has started strongly with solid sales growth being recorded by its key JB Hi-Fi Australia and The Good Guys businesses.
Newcrest Mining Ltd (ASX: NCM)
The Newcrest share price is up 4.5% to $23.72. Investors have been buying this gold miner’s shares following increased demand for safe haven assets amid concerns over escalating tensions in Ukraine. It isn’t just Newcrest rising today. The S&P/ASX All Ordinaries Gold index is up 5% this afternoon.
The post Why Bendigo and Adelaide Bank, Crown, JB Hi-Fi, and Newcrest are pushing higher appeared first on The Motley Fool Australia.
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More reading
- $250m buyback sends JB Hi-Fi (ASX:JBH) share price shooting higher
- ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid
- Is Newcrest Mining (ASX:NCM) set to start a share buyback in 2022?
- Crown (ASX:CWN) share price higher after accepting $8.9bn takeover offer
- Bendigo Bank (ASX:BEN) share price lifts amid 32% jump in profits
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 and has recommended Bendigo and Adelaide Bank 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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