In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back and is edging slightly higher. At the time of writing, the benchmark index is up to 6,994.9 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price was up 7% to $4.85 before being placed into a trading halt. This follows speculation that the US Food and Drug Administration has granted the company approval to sell infant formula within the United States of America. A2 Milk is preparing an announcement that responds to the speculation.
Qualitas Ltd (ASX: QAL)
The Qualitas share price has stormed higher again and is up 14% to $2.30. Investors have been buying this alternative real estate investment manager's shares since it secured commitments for a mandate to invest $700 million on behalf of a new fully discretionary investment vehicle of the Abu Dhabi Investment Authority. The gains may not stop there, though. This morning Goldman Sachs reiterated its buy rating and lifted its price target to $3.20.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is up 4% to $7.41. This morning the biopharmaceutical company announced pleasing regulatory progress for its core prostate and kidney cancer imaging programs in the Asia Pacific operating region. This includes progress in the major market of China with its strategic partner Grand Pharmaceutical Group.
Ventia Services Group Ltd (ASX: VNT)
The Ventia share price is up 5% to $2.83. This morning the essential infrastructure services provider revealed that it has been awarded a major road maintenance contract by Auckland Transport. Management notes that the five-year contract has an expected base contract value of NZ$220 million. The agreement also has a five-year extension option.
