Stocks of the Hour: EBOS, Westpac & Zip Co

Company News

by Lauren Evans

Medical wholesaler EBOS (ASX:EBO) welcomes Julie Dillion from Colgate-Palmolive as its new CEO for animal care. Julie is set to arrive in November this year after spending over 25 years at Colgate, including, from 2018, as general manger for Colgate’s pet nutrition business. Shares in EBOS Group (ASX:EBO) are trading 3.2 per cent higher at $34.82.

Westpac (ASX:WBC) has officially terminated its agreement with Kina Securities for the sale of its Pacific businesses. Westpac will assess whether any previous impairments should be reversed. This comes after the banking giant recognised a loss of $121 million from the sale in its first half 2021 results. Shares in Westpac Banking Corporation (ASX:WBC) are trading 1.1 per cent lower at $24.91.

Zip Co (ASX:Z1P) is set to invest $69 million (US$50 million) in the Indian buy-now-pay later operator ZestMoney. Zip Co recognised ZestMoney as one of India’s fastest-growing BNPL providers, with 11 million registered users. Zip negotiated terms to increase its shareholding over time. Shares in Zip Co (ASX:Z1P) are trading 4.7 per cent higher at $6.43.

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