In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing, the benchmark index is up 0.6% to 7,153.1 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are pushing higher:
Image source: Getty Images
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price is up over 6% to 66.5 cents. This is despite there being no news out of the lithium producer. Though, as we covered here earlier, the team at Canaccord Genuity is tipping Argosy Minerals' shares to rise strongly in 2023. It has a speculative buy rating and 85 cents price target on them.
Block Inc (ASX: SQ2)
The Block share price is up almost 4% to $100.02. This follows a strong session for the payments company's NYSE listed shares on Friday night. Investors were flooding into the tech sector amid hopes that US interest rates won't rise as much as feared.
Essential Metals Ltd (ASX: ESS)
The Essential Metals share price is up 39% to 48 cents. Investors have been buying the lithium explorer's shares after it accepted a takeover offer from Tianqi Lithium Energy Australia. This is a joint venture owned by lithium giants Tianqi Lithium and IGO Limited (ASX: IGO). Tianqi Lithium Energy Australia has tabled a 50 cents per share offer, which values Essential Metals at $136 million.
Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is up 9% to 24 cents. This follows another solid rise in the gold price on Friday night. This was triggered by optimism that interest rates won't rise as much as forecast, which would be good news for gold as higher interest rates reduce the appeal of gold. The S&P/ASX All Ordinaries Gold index is up 2.3% today.
