The S&P/ASX 200 (ASX: XJO) is getting ever so close to its February 2020 all-time high, gaining 0.5% on Thursday to close the session at 7,059 points.
More on the Zip deal
In terms of company news, Zip Co Ltd (ASX: Z1P) confirmed the terms of its convertible note deal, with $400 million set to be raised with a conversion price of $12.39 per share to ensure it isn’t dilutive to investors.
Ampol on the up
Ampol Ltd’s (ASX: ALD) renaissance under the new name continues, the share price jumping 5.4% after management announced that its convenience retail network had seen like-for-like sales growth of 10%.
Jet fuel sales remain 53% lower than this time last year but in a positive sign, the refining business at Lytton is running at breakeven despite the still weaker oil price and demand.
Bank of Queensland restores dividend
Bank of Queensland Limited (ASX: BOQ) shares fell 0.8% despite releasing half-year results and reinstating its dividend at 17 cents per share after ‘deferring’ it last year.
The company is recovering strongly with a resurgent Queensland economy and lower bad debt expectations resulting in a 66% increase in net profit for the half.
The ASX bank remains less well capitalised than the majors, with tier one capital of 10.03% and a weaker net interest margin of 1.95% reflecting its highest cost of capital.
Looking ahead, the ASX 200 is expected to rise 0.2% at the open on Friday.