In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.4% to 7,126.8 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
Boral Limited (ASX: BLD)
The Boral share price is up 2% to $4.02. This appears to have been driven by a broker note out of Macquarie. In response to the building materials company's trading update, the broker has upgraded its shares to an outperform rating with an improved price target of $4.50.
Imugene Limited (ASX: IMU)
The Imugene share price is up 7.5% to 10 cents. Investors have been buying the biotech company's shares after it announced that its Phase 1 MAST trial evaluating the safety of novel cancer-killing virus CF33-hNIS has progressed to the next cohort of the intravenous arms of both the monotherapy and combination study.
Nickel Industries Ltd (ASX: NIC)
The Nickel Industries share price is up 11% to 96.2 cents. This morning, the nickel miner announced a conditional 19.99% placement to PT United Tractors has been agreed. This will raise proceeds of A$943 million (US$628 million) at $1.10 per new share, which represents a 27.2% premium to its last close price.
Sigma Healthcare Ltd (ASX: SIG)
The Sigma Healthcare share price is up a further 4% to 80.2. Investors have been buying this pharmacy operator and supplier's shares this week after it announced a major contract win. Sigma has signed a deal with Chemist Warehouse worth at least $3 billion in sales revenue per year. This includes the renewal of a previous contract that was generating approximately $1 billion in sales.
