In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. The benchmark index is currently up 0.25% to 7,180 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Australian Ethical Investment Ltd (ASX: AEF)
The Australian Ethical share price is up 13% to $3.66. Investors have been buying this fund manager's shares following the release of a business update. Australian Ethical revealed further growth in its FUM and expectations for strong half-on-half profit growth in the second half.
Delta Lithium Ltd (ASX: DLI)
The Delta Lithium share price is up a further 12% to 76 cents. Investors have been buying this lithium developer's shares this week after it announced that Idemitsu Australia has invested ~$46.4 million at a premium of $0.7075 per share. The two parties will look to maximise the value of the Mt Ida and Yinnetharra lithium projects through key Australian, Japanese, and international relationships.
Emeco Holdings Ltd (ASX: EHL)
The Emeco share price is up 5% to 68.5 cents. This has been driven by the release of a trading update from the mining equipment company this morning. Management revealed that its unique business model and strategy continues to deliver solid earnings in challenging market conditions. It expects operating EBITDA of $248 million to $252 million in FY 2023.
Navigator Global Investments Ltd (ASX: NGI)
The Navigator Global share price is up over 9% to $1.28. This morning, this investment company announced that it will settle the 2026 redemption payment and acquire the remaining distributions from a portfolio of strategic investments. Management believes the "transaction has a compelling rationale and accelerates Navigator's delivery on its strategic priorities while repositioning to unlock substantial shareholder value."
