The S&P/ASX 200 Index (ASX: XJO) is on form again on Friday and on course to record another gain. In afternoon trade, the benchmark index is up 0.3% to 7,130.2 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 a further 11% to $3.64. This means the artificial intelligence data services company's shares are now up 45% since this time last week. It also means they are trading at their highest level of the year. That's despite its disastrous update last month and dilutive capital raising. This could be a sign of irrational exuberance.
Evolution Mining Ltd (ASX: EVN)
The Evolution Mining share price is up 3% to $3.57. This follows a solid rise in the gold price overnight. It isn't just Evolution Mining that is rising today. The S&P/ASX All Ords Gold index is currently up over 3% this afternoon.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up 10% to 66.5 cents. This follows the release of an announcement by the Namibian government which refuted claims that it plans to take stakes in the country's mines. It said: "The Government has no intention to seize any stake from existing mineral or petroleum licence holders and remain committed to uphold the sanctity of contract."
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4% to $4.51. This is despite there being no news out of the lithium miner. However, it is worth noting that its peers on Wall Street had a strong session overnight. This appears to have rubbed off on the local lithium industry during Friday's session.
