In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start to be trading a fraction higher. At the time of writing, the benchmark index is up slightly to 7,120.5 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are pushing higher:
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Cettire Ltd (ASX: CTT)
The Cettire share price has jumped 17% to $2.73. Investors have been buying the online luxury retailer's shares after it announced its expansion into the Chinese market. It will achieve this by partnering with Chinese ecommerce giant JD.com. Cettire estimates that mainland China will be the world's largest market for personal luxury goods by 2025, with a potential market size of A$150 billion.
Graincorp Ltd (ASX: GNC)
The Graincorp share price is up 13% to $8.16. This follows the release of a trading update by the grain exporter this morning. According to the release, GrainCorp expects its underlying net profit after tax to come in at $235 million to $280 million in FY 2022. This will be up 69% to 100% over the $139 million recorded in FY 2021.
James Hardie Industries plc (ASX: JHX)
The James Hardie share price is up 2% to $48.60. This follows the release of the building products company's third quarter update. James Hardie reported a 22% increase in global net sales to US$900 million and a 25% lift in adjusted net income to US$154.1 million. Management advised that this reflects strong price/mix growth in all three regions.
Nitro Software Ltd (ASX: NTO)
The Nitro share price is up 6% to $2.04. This appears to have been a delayed reaction to a broker note out of Goldman Sachs from last week. According to the note, its analysts have initiated coverage on the document productivity company's shares with a buy rating and $2.95 price target.
