In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. The benchmark index is currently up 0.4% to 7,306 points.
Four ASX shares that are climbing more than most are listed below. Here's why they are rising:
Cettire Ltd (ASX: CTT)
The Cettire share price is up 8% to $3.16. Investors have been buying this online luxury retailer's shares after it was added to the ASX 300 index at the upcoming quarterly rebalance. Following today's gain, Cettire's shares are now up almost 400% since this time last year.
Genesis Minerals Ltd (ASX: GMD)
The Genesis Minerals share price is up almost 5% to $1.71. This also appears to have been driven by the quarterly rebalance. However, for this gold miner, it has been added to both the ASX 300 index and the benchmark ASX 200 index. Genesis Minerals acquired the Leonara gold assets from St Barbara Ltd (ASX: SBM) earlier this year.
Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 9% to $2.86. This morning, this lithium developer revealed that lithium giant Albemarle Corporation (NYSE: ALB) has returned with an improved takeover offer. A non-binding offer of $3.00 per share has been tabled, which Liontown advised would be enough to get a deal done if it became binding.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is up over 7% to $4.21. This semiconductor company is another new addition to the ASX 200 index at the quarterly rebalance. The inclusion of this meme calls into question the credibility of the ASX 200 index once again. However, it joins the index at the expense of another meme stock, Brainchip Holdings Ltd (ASX: BRN). So, at least there aren't two in there.
