In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for another day of solid gains and is up almost 0.4% to 6,107 points.
Four shares that are climbing more than most today are listed below. Here's why they are on the rise:
The G8 Education Ltd (ASX: GEM) share price is up almost 6% to $2.51 despite there being no news out of the childcare operator. This latest gain means the G8 Education's shares have risen 14% since the release of its presentation for the Macquarie Australia conference last week. Investors appear pleased that trading conditions haven't deteriorated since its last update.
The Gascoyne Resources Ltd (ASX: GCY) share price is up 5% to 55 cents after the gold miner announced that ore commissioning has commenced on the 2.5Mtpa process plant at its Dalgaranga Gold project. According to the release, the project contains an estimated 1.3 million ounces of gold. The first gold production is expected in around 10 days.
The IPH Ltd (ASX: IPH) share price has climbed 5.5% to $4.07 after the leading intellectual property services group announced an on-market share buyback program. According to the release, the company intends to buy up to $40 million worth of shares from May 23 for 12 months. Management has advised that the buyback will not impact its existing dividend policy and reflects confidence in the company's future performance.
The Platinum Asset Management Limited (ASX: PTM) share price has jumped 7.5% to $6.01. After the market closed on Monday Platinum released its funds under management (FUM) update for April. According to the update, FUMs grew almost 3% during the month to $28 billion. One broker that liked what it saw was Credit Suisse. According to a note out of the investment bank, it upgraded Platinum to a neutral rating from underperform (sell) following the update.
