Why ANZ, Block, Bubs, and PayGroup shares are pushing higher

These ASX shares are on for m on Thursday…

| More on:
Green arrow going up on stock market chart, symbolising a rising share price.

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 fighting hard to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 6,516.6 points.

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

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The ANZ share price is up 1.5% to $22.15. Investors have been buying this banking giant's shares amid rumours that it could be making a major acquisition. ANZ is understood to be running the rule over a multi-billion-dollar purchase of accounting software company MYOB. The bank is believed to be interested in building a one-stop platform for small businesses.

Block Inc (ASX: SQ2)

The Block share price is up 3% to $87.49. This is despite the payments giant's US listed shares having an average night on Wall Street. However, when adjusting for current foreign exchange rates, this gain brings Block's ASX listed shares largely in line with the value of their US counterparts.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is up 3% to 64 cents. This follows the release of yet another announcement relating to its US infant formula shipments. Today's update, the sixth in the space of a month, reveals that two planes have been sourced for its next shipments. No changes have been made to Bubs' overall plan to ship 1.25 million tins to the US to help with shortages.

PayGroup Ltd (ASX: PYG)

The PayGroup share price is rocketing 157% higher to 94 cents. The catalyst for this impressive gain has been a takeover approach for the human capital management (HCM) solutions company. According to the release, Deel has offered $1 per share in cash, which equates to a total consideration of $119.3 million.

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 Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended BUBS AUST FPO. 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 woman is excited as she reads the latest rumour on her phone.
Share Gainers

Why Catalyst Metals, Ora Banda, Spartan Resources, and TechnologyOne shares are rising today

These shares are overcoming the market weakness and pushing higher. But why?

Read more »

Lab worker puts hands in the air and dances around
Healthcare Shares

Guess which ASX healthcare stock just rocketed 46% on major news!

Investors are sending this ASX healthcare stock flying higher on Wednesday. But why?

Read more »

A man sees some good news on his phone and gives a little cheer.
Share Gainers

Why Arafura, Dropsuite, Spartan Resources, and Universal Store shares are pushing higher

These shares are having a strong session on Tuesday. But why?

Read more »

Man on a laptop thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a Garfield-eque start to the trading week this Monday.

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Healthcare Shares

If you invested $5,000 in this ASX pharmaceuticals stock a year ago, you'd have $34,711 now!

Just how lucky have investors been with this stock?

Read more »

A boy stands firm on a rocky cliff holding a rocket in each hand and looking up toward the sky, anticipating flying into space.
Share Gainers

Why these 2 ASX 200 shares are surging amid today's market meltdown

Investors are bidding up these two ASX 200 shares despite the wider market meltdown. But why?

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Share Gainers

Why 29Metals, Immutep, Insignia, and Perenti shares are pushing higher today

These shares are avoiding the market selloff. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Adore Beauty, Domino's, DroneShield, and Universal Store shares are rising today

Not all shares are falling today. Why are these rising?

Read more »