The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is on course to record a solid gain. In afternoon trade, the benchmark index is up 0.% to 7,069.4 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:
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BlueScope Steel Limited (ASX: BSL)
The BlueScope share price is up 5.5% to $17.82. Investors have been buying this steel producer's shares after the release of its FY 2022 results. For the 12 months ended 30 June, BlueScope reported a 135% increase in net profit after tax to a record of $2.81 billion. This was driven by favourable steel spreads.
Carsales.Com Ltd (ASX: CAR)
The Carsales share price is up 5.5% to $22.87 after the auto listings company's full year results impressed. Carsales reported a 27% increase in adjusted net profit after tax to $195 million for FY 2022. This was at the upper end of the company's guidance range.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 10% to $1.62. This morning this lithium developer released an update on its exploration activities. Core revealed that its 40,000m reverse circulation drilling program is now underway and a pipeline of existing and new targets at the Finniss Project are to be tested. Management also revealed that high grade lithium rock chip results were received from Anningie-Barrow Creek Project.
Nearmap Ltd (ASX: NEA)
The Nearmap share price has jumped 23% to $1.87. This morning the aerial imagery company announced that it has received a non-binding takeover offer from Thoma Bravo. The private equity firm has tabled a $2.10 per share offer, which values Nearmap at approximately $1 billion. Due diligence has been granted so Thoma Bravo can explore whether a definitive transaction can be agreed.
