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

These ASX shares are having a strong session on Thursday.

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

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on Share Gainers

A happy girl in a yellow playsuit with a zip gives the thumbs up
BNPL shares

Is this why the Zip share price keeps breaking records?

Zip shareholders have been enjoying a record breaking year. Is this why?

Read more »

A man and a woman sit in front of a laptop looking fascinated and captivated.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a volatile, but positive, day for ASX shares this Thursday.

Read more »

Excited group of friends sitting on sofa watching sports on TV and celebrating.
Share Gainers

Why Block, GQG, Neuren, and Sigma shares are racing higher today

These shares are rising on Thursday. But why?

Read more »

Happy shareholders clap and smile as they listen to a company earnings report.
Share Gainers

Why Brainchip, Cooper Energy, Core Lithium, and Neuren shares are roaring higher today

These shares are having a good time on hump day. But why?

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »