In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up slightly to 7,124 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
Azure Minerals Ltd (ASX: AZS)
The Azure Minerals share price is up 33% to 83 cents. Investors have been buying this lithium explorer's shares following the release of impressive drilling results from the 60%-owned Andover Project. Management believes the results demonstrate the potential for the Andover Project to host lithium resources of world-class scale and tenor.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up almost 11% to 77 cents. This is despite there being no news out of the uranium miner. However, it is worth noting that a number of uranium shares are recording strong gains today. This may be partly due to analysts feeling upbeat on the outlook for uranium demand in the coming years, which bodes well for Paladin Energy.
Tesserent Ltd (ASX: TNT)
The Tesserent share price is up 145% to 12 cents. This morning, this cybersecurity company announced that it has accepted a takeover offer from Thales Australia of 13 cents per share. This represents a significant premium of 165.3% to its last close price and values Tesserent at $232 million on an enterprise value basis.
Xero Limited (ASX: XRO)
The Xero share price is up 4% to $113.58. Investors have been piling back into the tech sector on Tuesday following a strong rebound on Wall Street's tech-focused NASDAQ index. It isn't just Xero that is rising, the S&P ASX All Technology index is up a decent 2.3% this afternoon.
