The S&P/ASX 200 Index (ASX: XJO) is on form again on Thursday and pushing higher. At the time of writing, the benchmark index is up 0.9% to 8,489.9 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:
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BWP Trust (ASX: BWP)
The BWP Trust share price is up 3% to $3.55. Investors have been buying this Bunnings Warehouse-focused property company's shares this week following the release of its half-year results. BWP posted a 22% increase in revenue to $100.6 million and a 15% lift in profit before fair value movements to $66.1 million. This went down well with analysts at Citi, which upgraded the company's shares to a neutral rating from a sell rating with a $3.40 price target. It is feeling more positive about the company's outlook.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price is up 1.5% to $10.08. This follows the release of the fund manager's latest funds under management (FUM) update this morning. Magellan revealed that both retail and institutional flows were flat for the month of January. This is an improvement from many months of funds outflows during the past year. At the end of January, Magellan's FUM was $39.1 billion, which is up from $38.6 billion at the end of December.
News Corporation (ASX: NWS)
The News Corporation share price is up 5% to $55.99. The catalyst for this has been the release of a strong quarterly update from the media giant this morning. News Corp reported a 5% year-over-year increase in revenue to US$2.24 billion. This was driven by strong performances from its Digital Real Estate Services, Book Publishing, and Dow Jones segments. Things were even better for its earnings, with net income from continuing operations jumping 58% to US$306 million. News Corp's chief executive, Robert Thomson, said: "The three pillars of growth—Digital Real Estate, Dow Jones and Book Publishing—continued to expand Segment EBITDA robustly. We also saw the positive impact of rigorous cost discipline and digital development in the News Media segment, and our overall margin rose meaningfully compared to the prior year."
Winsome Resources Ltd (ASX: WR1)
The Winsome Resources share price is up 2.5% to 45.5 cents. Investors have been buying this lithium explorer's shares following the announcement of a new discovery. According to the release, the company has discovered a high-grade spodumene-bearing pegmatite at the Sirmac-Clapier Project in Canada. Importantly, it contains very high grade cesium mineralisation in addition to lithium mineralisation. Managing director, Adam Ritchie, commented: "There has been limited work at Sirmac-Clapier to date due to our significant drilling efforts at our flagship Adina Lithium Project, so it is great to make this find the first time we get our boots on the ground."
