Why Centuria Office, Deep Yellow, Newcrest, and Xero shares are racing higher today

These ASX shares are making their shareholders smile on Thursday with some strong gains…

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The S&P/ASX 200 Index (ASX: XJO) has continued its positive form on Thursday. In afternoon trade, the benchmark index is up 0.2% to 7,515.4 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Centuria Office REIT (ASX: COF)

The Centuria Office REIT share price is up 7% to $1.74. Investors have been buying this property company's shares following the release of its half year results. While Centuria Office reported an 11% decline in funds from operations to $48.6 million, this appears to have been better than the market was expecting. The company also declared a 7.05 cents per share interim distribution, which was in line with its guidance.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 6% to 81 cents. This has been driven by the release of an update on the definitive feasibility study (DFS) of its Tumas uranium project in Namibia. Management advised that the study is now complete and has resulted in increased production capacity and throughput.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest Mining share price is up 3.5% to $23.07. This has been driven by a strong rise in the gold price today after the market started to bet on US interest rates not rising as much as feared. This has led to the S&P/ASX All Ordinaries Gold index rising almost 4% this afternoon.

Xero Limited (ASX: XRO)

The Xero share price is up almost 8% to $82.68. Investors have also been flooding back into the tech sector again thanks to lower interest rate expectations. It isn't just Xero rising today. The S&P/ASX All Technology Index is up 3.6% at the time of writing.

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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