The S&P/ASX 200 Index (ASX: XJO) is on form again and charging higher on Thursday. In afternoon trade, the benchmark index is up 1% to 7,122.5 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Appen Ltd (ASX: APX)
The Appen share price is up 8% to $2.96. This is despite there being no news out of the artificial intelligence data services company. However, as I mentioned here yesterday, a couple of insiders have been buying its beaten down shares in recent sessions.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up over 4% to $1.98. This has been driven by news that the gold miner's McPhillamys Gold Project has received final approval from the Independent Planning Commission of New South Wales. Management notes that "McPhillamys is one of Australia's largest undeveloped open-pittable gold resources and underpins significant value potential for Regis."
Syrah Resources Ltd (ASX: SYR)
The Syrah share price is up 3% to $1.68. This follows the release of a mineral resource update for the Balama graphite operation. Management notes that the updated estimate reinforces Balama's position as the premier high grade natural graphite deposit globally. It also supports a 50+ year mine life based on Balama's current 2 Mtpa process plant capacity.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 5.5% to 57 cents. Investors have been buying this buy now pay later provider's shares after it announced an agreement to divest its Central and Eastern European business and South African business. The company is also on track with the wind-down of its business in the Middle East. All in all, this leaves Zip well-placed to achieve its profit goals in the first half of FY 2024.
