Why Boral, Metcash, Silver Lake, and Strike Energy shares are pushing higher

These ASX shares are on form on Monday…

| More on:
Rising share price chart.

Image source: Getty Images

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has bounced back from its intraday lows and is trading just a fraction lower. At the time of writing, the benchmark index is down slightly to 7,238.2 points.

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

Boral Limited (ASX: BLD)

The Boral share price is up 2.5% to $6.32. This follows news that the building products company has signed an agreement to sell its US fly ash business for US$755 million (~A$1 billion). The good news is that some, or even all, of these funds are likely to be returned to shareholders.

Metcash Limited (ASX: MTS)

The Metcash share price is up 6% to $4.19. Investors have been buying this wholesale distributor’s shares following the release of a strong half year result. For the six months ended 31 October, Metcash reported a 1.3% increase in revenue to $7.2 billion and underlying profit after tax growth of 13.1% to $146.6 million. Metcash also revealed that the second half has started strongly.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price is up over 5% to $1.62. Investors have been buying this gold miner’s shares amid a rise in the gold price on Friday night. This was driven by increased demand for safe haven assets following a selloff in the tech sector. It isn’t just Silver Lake rising, the S&P/ASX All Ordinaries Gold index is up 2% at the time of writing.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price has jumped 13% to 17 cents. This morning the energy company revealed that the Walyering-5 (W5) well has confirmed the presence of a high-quality, low CO2, conventional gas accumulation at the suspended Walyering gas field within the Perth Basin. These results have exceeded the company’s expectations.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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 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 Bruce Jackson.

More on Share Gainers

Young woman in yellow striped top with laptop raises arm in victory
Share Gainers

These were the best performing ASX 200 shares last week

The S&P/ASX 200 Index (ASX: XJO) had a week to forget after the US Federal Reserve indicated that it would start to …

Read more »

An oil miner with his thumbs up.
Energy Shares

Why are AGL (ASX:AGL) shares having such a stellar start to 2022 while the ASX 200 is struggling?

Key points AGL was one of the worst performing ASX 200 shares of 2021 But 2022 has given this company …

Read more »

Concept image of a businessman riding a bull on an upwards arrow.
Share Gainers

Why Champion Iron, Dusk, Hipages, and Imugene shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is rebounding strongly from recent declines. At the time of writing, …

Read more »

a smiling woman holds up two fingers and winks.
Share Gainers

Top 2 ASX 200 shares of the year so far revealed

S&P/ASX 200 Index (ASX: XJO) shares as a whole haven’t gotten off to the strongest of starts in 2022. After …

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Share Gainers

Why Beach, Jumbo, Premier Investments, and Western Areas are pushing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another disappointing decline. At the time of …

Read more »

A man in a blue collared shirt sits at his desk doing a single fist pump as he watches his Neometals shares rising on his laptop
Resources Shares

Why is the BHP (ASX:BHP) share price leaping ahead today?

The S&P/ASX 200 Index (ASX: XJO) has unfortunately slipped into negative territory so far this Thursday, after an initially strong market …

Read more »

Businessman in suit and holding a briefcase jumps into the sky celebrating the rising Enero share price
Share Gainers

‘Exclusive provider’: Genworth (ASX:GMA) share price leaps 12% on CBA deal

Key points Genworth is cruising today following a company announcement The company has been selected as the exclusive provider of …

Read more »

A group of people cheer at a blackjack table in a casino
Share Gainers

Why the PointsBet (ASX:PBH) share price is rocketing 9% today

Key points The online gambling market continues to grow West Virginia becomes the third US state to host PointsBet’s online …

Read more »