Why Brickworks, Healius, Mincor, and Northern Star shares are rising today

The S&P/ASX 200 Index (ASX: XJO) is having a disappointing session on Thursday. In afternoon trade, the benchmark index is down 0.7% to 6,966.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Brickworks Limited (ASX: BKW)

The Brickworks share price is up 3.5% to $23.88. This follows the release of the building products company’s half-year results this morning. Thanks largely to its property business, Brickworks delivered a 24% increase in half-year underlying profit to a record $410 million. This allowed the company to increase its interim dividend by 5% to 23 cents per share.

Healius Ltd (ASX: HLS)

The Healius share price is up 1% to $3.03. Investors have been buying this healthcare company’s shares this week after it received a takeover approach from smaller rival Australian Clinical Labs Ltd (ASX: ACL). Although the offer is not at a premium, Australian Clinical Labs expects to create significant value for shareholders by merging the two companies.

Mincor Resources NL (ASX: MCR)

The Mincor share price is up a further 3.5% to $1.58. This nickel miner’s shares have risen strongly this week after Twiggy Forrest’s Wyloo Metals business made a takeover approach. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Investors appear to believe that BHP Group Ltd (ASX: BHP) could come in with a higher offer.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 2% to $11.43. Investors have been buying Northern Star and other gold miners today after the price of the precious metal rebounded overnight. Traders appear to believe the safe haven asset will benefit from market volatility caused by rising interest rates. The S&P/ASX All Ordinaries Gold index is up 1.2% this afternoon.

The post Why Brickworks, Healius, Mincor, and Northern Star shares are rising today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Brickworks share price higher on record half-year profit
• 5 things to watch on the ASX 200 on Thursday
• Why are ASX 200 gold stocks on a rollercoaster lately?
• Why ASX 200 gold shares could see the yellow metal hit new record highs: expert
• 5 things to watch on the ASX 200 on Wednesday

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 Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/TkX56Un