In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1.05% to 7,271.2 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Integrated Research Limited (ASX: IRI)
The Integrated Research share price is up 14% to 57 cents. This morning, this performance management solutions provider released a trading update. Integrated Research expects to report half year EBITDA of $7.8 million to $8.8 million. This will be a 15% to 30% increase over the prior corresponding period.
Macquarie Group Ltd (ASX: MQG)
The Macquarie share price is up 1.5% to $176.70. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating and $215.00 price target on the investment bank's shares. Morgan Stanley suspects that Macquarie could benefit from recent commodities volatility.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4% to $4.14. This follows a strong night of trade for lithium shares on Wall Street. In addition, on Wednesday Citi upgraded Pilbara Minerals' shares to a buy rating with a $4.70 price target. The broker felt that the company's shares had been oversold since November.
South32 Ltd (ASX: S32)
The South32 share price is up 2.5% to $4.61. This may have been driven by another rise by the copper price overnight. The metal rose beyond US$9,000 a tonne overnight on the LME, taking it to a six-month high. This has been driven by optimism that China's reopening will underpin increased demand from the world's top consumer.
