Why Bank of Queensland, Link, Silk Laser, and Zip shares are pushing higher

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,374.1 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is up almost 2% to $6.40. This follows the release of the regional bank’s half-year results this morning. The bank reported a 4% decline in cash earnings to $256 million and a 9% reduction in its interim dividend to 20 cents per share. Management also eased investor nerves by saying: “BOQ is in a strong financial position as we enter this more challenging economic cycle.”

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is up 2.5% to $2.14. This follows news that the administration services company has reached a conditional agreement for the sale of its Fund Solutions business to the Waystone Group for an aggregate consideration value of between £110 million and £140 million. The deal excludes its Luxembourg and Swiss entities, as well as the Woodford related liabilities.

Silk Laser Australia Ltd (ASX: SLA)

The Silk Laser share price is up 24% to $3.00. This has been driven by news that Wesfarmers Ltd (ASX: WES) has tabled a $3.15 cash per share non-binding takeover offer for Australia’s largest specialist clinic networks. The deal values Silk at $169 million. Wesfarmers expects the deal to complement its existing Clear Skincare Clinics business.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up over 3% to 53.7 cents. This follows the release of the buy now pay later provider’s quarterly update. Zip reported a 15% increase in revenue to $182 million on a 9% lift in transaction volume to $2.2 billion. The company also delivered a nice improvement to its margins during the quarter.

The post Why Bank of Queensland, Link, Silk Laser, and Zip shares are pushing higher appeared first on The Motley Fool Australia.

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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 positions in and has recommended Link Administration and Zip Co. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Silk Laser Australia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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