Why Bank of Queensland, Carsales, Genesis Minerals, and Syrah shares are rising

These ASX shares are starting the week strongly.

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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

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The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Monday. In afternoon trade, the benchmark index is down slightly to 7,154.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is up 2.5% to $5.79. This is despite there being no news out of the regional bank. However, it is worth highlighting that the banking sector is having a strong session. This has seen S&P/ASX Financials index rise by a decent 0.8% so far today.

Carsales.Com Ltd (ASX: CAR)

The Carsales share price is up 1% to $29.10. This follows the release of a presentation relating to its US business after the market close on Friday. That update reveals that trader numbers continue to grow for the company's Trader Interactive business. This went down well with analysts at Citi, which have responded by retaining their buy rating and $29.65 price target.

Genesis Minerals Ltd (ASX: GMD)

The Genesis Minerals share price is up 5% to $1.67. This morning, this gold miner reported high grade drill results at its Gwalia operation. The release notes that multiple high-grade drill results confirm Gwalia's status as a world-class gold system with an endowment of 5,600 ounces per vertical metre.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is up 9% to 62 cents. Investors have been buying this graphite producer's shares after the United States International Development Finance Corporation (DFC) approved a US$150 million conditional loan commitment. If everything is completed successfully, these funds will support the Balama Graphite Operations in Mozambique. The news appears to have eased concerns that a capital raising would be required soon.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 recommended Carsales.com. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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