The S&P/ASX 200 Index (ASX: XJO) is charging higher today thanks to a lower-than-expected inflation reading. In afternoon trade, the benchmark index is up 0.85% to 7,401.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are jumping:
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 6% to $1.62. This morning, this energy producer released its fourth quarter update and revealed a 12% quarter on quarter increase in production to 5MMboe. This took its production to 19.5 MMboe in FY 2023, which underpinned full-year revenue of $1,617 million.
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up 7% to $1.12. Investors have been buying the performance technology company's shares after it released a first-quarter update. That update reveals that Catapult's annualised contract value (ACV) growth exceeded 20% year on year on a constant currency basis. Management also reaffirmed that it expects to be free cash flow positive in FY 2024.
Global Lithium Resources Ltd (ASX: GL1)
The Global Lithium share price is up 7% to $1.72. This has been driven by news that the lithium explorer has materially increased the resource of the Manna Lithium Project. The release reveals a 24.1% increase in total contained Li2O from 327,000 tonnes to 406,000 tonnes. There has also been a 13% increase in the mineral resource grade to 1.13% Li2O.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up 6% to $6.17. Investors have been buying this e-commerce company's shares following the release of its second-half update. Although Kogan reported a sharp decline in active customers and sales, its falling inventory levels and improving margins appear to have given investor sentiment a boost.
