The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a gain. In afternoon trade, the benchmark index is up 0.25% to 6,876.1 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are charging higher:
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Allkem Ltd (ASX: AKE)
The Allkem share price is up 6.5% to $15.01. This appears to have been driven by a strong night for lithium shares on Wall Street after investors responded positively to Albemarle's quarterly update. The world's largest lithium producer delivered a result ahead of expectations thanks to strong demand and pricing for the battery making ingredient.
Block Inc (ASX: SQ2)
The Block share price has jumped almost 12% to $97.62. Investors have been buying this payments company's shares after it released a strong quarterly update. For the three months ended 30 September, Block recorded total net revenue of US$4.52 billion for the period. This was up 17% over the prior corresponding period and ahead of the consensus estimate of US$4.47 billion.
Bowen Coking Coal Ltd (ASX: BCB)
The Bowen Coking Coal share price is up 9% to 30 cents. This morning analysts at Morgans retained their speculative add rating with a 48 cents price target. The broker sees the current quarter "as a defining catalyst as investors await positive operating cashflow."
CSR Limited (ASX: CSR)
The CSR share price is up 4.5% to $4.74. This follows the release of the building products company's half year results this morning. CSR reported a net profit after tax (before significant items) of $110 million, up 27% over the prior corresponding period. CSR's key Building Products segment delivered a 15% increase in earnings. Management advised that this reflects good execution across end markets, price discipline, and cost management.
