In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from a tough morning and is on course to finish the week with a small gain. At the time of writing, the benchmark index is up 0.1% to 7,154.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Abacus Property Group (ASX: ABG)
The Abacus Property share price is up 10% to $1.19. Investors have been buying this property company's shares following the release of its FY 2023 results. Although the company posted a big decline in profits, this was due to changes in valuations. Excluding this, Abacus recorded solid year on year growth across the board.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 3.5% to 42.5 cents. Bargain hunters appear to be swooping in on Friday following a significant decline yesterday. That was driven by the news that Core Lithium has raised $100 million at a sizeable discount of 40 cents per new share. This beaten-down lithium share is now down approximately 70% over the last 12 months.
Goodman Group (ASX: GMG)
The Goodman share price is up 6.5% to $22.27. Investors have been buying this industrial property company's shares since the release of its FY 2023 results on Thursday. Goodman reported a 17% increase in operating profit to $1.78 billion. Looking ahead, the company is guiding to profit growth of 9% in FY 2024.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price is up almost 18% to $10.83. This is despite the struggling fund manager reporting a huge profit decline for FY 2023. Investors appear more focused on the special dividend that the company has declared. A special dividend of 30 cents per share will be paid on top of its 86.7 cents per share dividend.
