Why Lendlease, Mesoblast, St Barbara, and Zip shares are pushing higher

These shares are ending the week on a positive note. What's going on?

| More on:
Man looking happy and excited as he looks at his mobile phone.

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 early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to end the week with a solid gain. At the time of writing, the benchmark index is up 0.5% to 8,538.5 points.

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

Lendlease Group (ASX: LLC)

The Lendlease share price is up 2% to $6.50. Investors have been buying this international property and infrastructure company's shares after it announced a deal to sell its Capella Capital business for a consideration of $235 million to Japanese trading company Sojitz Corporation. Management notes that this brings its total capital recycling transactions to $2.2 billion. Lendlease also revealed that the $516 million sale of its US Military Housing business to Guggenheim Partners has completed following satisfaction of all conditions.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up over 2% to $3.13. This follows the release of its quarterly result and an update on commercial activities. In respect to the latter, the launch of its Ryoncil product is planned for this quarter once it receives National Drug Codes (NDC) from the US FDA. Management estimates that steroid-refractory acute graft-versus-host disease (SR-aGvHD) is a US$1 billion annual market opportunity. Chief executive, Dr. Silviu Itescu, said: "We are committed to making our FDA approved product Ryoncil available as quickly as possible to the many children with SR-aGVHD in need of life-saving therapy. The team has been working relentlessly on finalizing product availability, including logistics, regulatory documentation, and contractual arrangements to ensure a successful launch of Ryoncil this quarter."

St Barbara Ltd (ASX: SBM)

The St Barbara share price is up 5% to 25.2 cents. This follows a strong rise in the gold price overnight and the release of the gold miner's quarterly update. St Barbara revealed that second quarter gold production was 10,262 ounces, which fell short of the anticipated production range or 14,000 to 16,000 ounces. However, stronger production is expected in the second half due to higher grade ore, installation of the sizer, new excavators, and truck fleet availability.

Zip Co Ltd (ASX: ZIP)

The Zip Co share price is up 2% to $2.49. This appears to have been driven by a broker note out of Citi this morning. In response to a post-quarterly update selloff on Thursday, the broker has upgraded this buy now pay later provider's shares to a buy rating with a $3.00 price target. While Citi has trimmed its estimates to reflect softer growth, its analysts believe the selloff was overdone and created a buying opportunity for investors.

Citigroup is an advertising partner of Motley Fool Money. 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 Zip Co. 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 Scott Phillips.

More on Share Market News

Woman in celebratory fist move looking at phone
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A female financial services professional with a manicured black afro hairstyle turns an ipad screen to show a client across the table a set of ASX shares figures in graph format.
Share Market News

Record CBA share price and blockbuster merger push ASX 200 financials sector to the top

ASX financial stocks led the 11 market sectors last week with a 1.95% gain.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Market News

CBA Shares in focus: How Australia's most valuable company is using AI to compete

Could AI initiatives drive CBA shares higher?

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Looking for big returns? Brokers think these shares could do the job.

Read more »

asx share price represented by cartoon letters spelling the word FOMO
Share Market News

What did Macquarie's "FOMO Meter" reveal about the stock market in May?

Is the market getting frothy or is there still room to climb?

Read more »

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »

Man in an office celebrates at he crosses a finish line before his colleagues.
Share Gainers

4 ASX 200 shares racing ahead of the benchmark this week

ASX investors sent these four stocks soaring 12% to 18% this week. But why?

Read more »

A young man sits at his desk working on his laptop with a big smile on his face.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »