The S&P/ASX 200 Index (ASX: XJO) is having another strong session on Friday. In afternoon trade, the benchmark index is up 1.15% to 7,461.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:
Adbri Ltd (ASX: ABC)
The Adbri share price is up 7% to $2.24. This morning, this building materials company released a trading update and revealed that its 2023 underlying EBITDA is expected to be within the range of $310 million to $315 million. This moderately exceeds the outlook provided at its half-year results in August.
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 4% to $1.55. Investors have been buying this energy producer's shares after oil prices charged higher overnight. A weaker US dollar and an improved 2024 demand outlook boosted prices. The S&P/ASX 200 Energy index is up 2% this afternoon.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 15% to 30.5 cents. This appears to have been driven by a jump in Chinese lithium futures following the completion of COP28. Short sellers may also be buying shares in a hurry to close their positions, adding to the buy side of the equation.
Link Administration Holdings Ltd (ASX: LNK)
The Link share price is up 9% to $1.72. This morning, this administration services company advised that longstanding client AustralianSuper has entered into a memorandum of understanding to negotiate an extension to their partnership until at least 2028.
