The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. In afternoon trade, the benchmark index is up slightly to 6,845.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 4.5% to 34.5 cents. Investors have been buying Core Lithium's shares despite there being no news out of the lithium miner. However, with its shares down heavily over the last six months, some investors may believe they have been oversold and are snapping them up today.
McMillan Shakespeare Ltd (ASX: MMS)
The McMillan Shakespeare share price is up 9% to $16.45. This follows the release of the salary packaging company's first quarter update. According to the release, during the first quarter of FY 2024, the company achieved strong growth in novated lease sales, contributing to higher-than-expected group earnings.
Perseus Mining Ltd (ASX: PRU)
The Perseus share price is up 4% to $1.74. This morning, this gold miner reported first quarter gold production of 132,804 ounces at an all-in sustaining cost (AISC) of US$937 per ounce. This led to an average cash margin of US$999 per ounce of gold sold. Management has reaffirmed its production and cost guidance for the first half and FY 2024.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 8% to 32.5 cents. Investors have been buying this buy now pay later provider's shares following the release of its first-quarter update. Zip reported an 11% increase in transaction volume to $2.3 billion and a 31.9% lift in quarterly revenue to $204.4 million. Management also revealed that positive EBTDA was achieved for the quarter.
