In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and is storming higher. At the time of writing, the benchmark index is up 1.25% to 6,983.9 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's share price is up 5% to $48.41. This appears to have been driven by a note out of Barrenjoey this morning. Its analysts believe that the pizza chain operator's shares have dropped to an attractive level and upgraded them to an overweight rating from neutral.
Incitec Pivot Ltd (ASX: IPL)
The Incitec Pivot share price is up almost 4% to $3.24. Investors have been buying this industrial chemicals company's shares after it announced an agreement for the sale of its Waggaman operation in the United States to CF Industries for A$2.5 billion. The company expects to bank after tax cash proceeds of A$1.25 billion from the sale.
Mincor Resources NL (ASX: MCR)
The Mincor share price is rocketing 42% higher to $1.47. This follows news that Twiggy Forrest's Wyloo Metals business has made a takeover approach for the nickel producer. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Clearly, based on its current share price, the market believes an even better offer is coming.
New Hope Corporation Limited (ASX: NHC)
The New Hope share price has jumped 9% to $5.34. Investors have been buying this coal miner's shares following the release of its strong half-year result. New Hope reported the doubling of its net profit after tax to $668.6 million, which allowed it to lift its interim dividend by 76% to 30 cents per share. A special 10 cents per share dividend was also declared.
