In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.4% to 7,508.7 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price is up 5% to 66.7 cents. This morning, the lithium developer provided an update on its Rincon project in Argentina. Argosy Minerals revealed that it remains on track to start steady-state production by the end of the second quarter of calendar year 2023.
Credit Corp Group Limited (ASX: CCP)
The Credit Corp share price is up 2.5% to $22.20. This follows the release of the debt collection company's half year results. Credit Corp reported an 8% increase in revenue to $220.5 million but a 30% decline in profit to $31.8 million. The market appears to have been expecting even worse for its profits.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up 9% to $17.27. Investors have responded positively to the travel agent's plan to acquire United Kingdom-based luxury travel brand Scott Dunn for $211 million. To support the acquisition, Flight Centre has raised $180 million from institutional investors at a 7.8% discount of $14.60 per new share. Flight Centre also released a solid trading update yesterday.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up over 11% to $1.06. This morning, the biotech company revealed that it has resubmitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for the approval of remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). The resubmission contains substantial new information as required by the FDA.
