The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decent gain. In afternoon trade, the benchmark index is up 0.35% to 7,494 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 6% to $1.63. This is despite there being no news out of the lithium developer. However, a number of lithium shares are rising today. This may be due to optimism that lithium prices will stay higher for longer. This would be particularly good news for Liontown, which is expected to commence production next year.
Megaport Ltd (ASX: MP1)
The Megaport share price is up almost 6% to $7.33. Investors have been buying this network as a service operator's shares after Morgans upgraded them to an add rating with a $9.00 price target. It commented: "Valuations for quality tech are now back to 20 year / long run averages (fair value). Interest rates should normalise and, assuming this occurs, investors may reassess the fact that we are back into a no growth world."
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is up 1.5% to $7.43. This morning, this energy company upgraded its Energy Markets earnings guidance for FY 2023. It now expects underlying EBITDA to be between $600 million and $730 million. This is up from $500 million to $650 million and excludes the potential impact of the introduction of the legislated coal price cap.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 3.5% to $1.55. This has been driven by news that Tyro has offered due diligence access to Potentia. This follows the recent non-binding takeover offer of $1.60 per share from the private equity company. While that offer was rejected, Tyro appears to be hoping that a better offer will be made once Potentia has done its due diligence.
