Why Evolution, Fisher & Paykel, IDP Education, and Temple & Webster shares are jumping

These ASX shares are having a strong session on hump day. But why?

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. The benchmark index is currently up 0.35% to 7,039.3 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are jumping:

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 4% to $4.01. Investors have been buying Evolution and other gold miners today after the precious metal increased in value again overnight. This has led to the S&P/ASX All Ordinaries Gold index rising over 4% this afternoon.

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)

The Fisher & Paykel share price is up 7.5% to $22.12. This has been driven by the release of the medical device company's half-year results. Fisher & Paykel reported a 16% increase in revenue to NZ$803.7 million and a 12% lift in net profit after tax to NZ$107.3 million.

IDP Education Ltd (ASX: IEL)

The IDP Education share price is up 4.5% to $22.89. This morning, the team at Bell Potter upgraded this student placement and language testing company's shares to a buy rating with a $27 price target. It commented: "IDP is trading at a premium to the average EV/EBIT of education services peers in FY24e at 23.7x. However, we believe this is justified due to the Company's significantly larger scale and maturity."

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is up 14.5% to $7.40. Investors have been buying this online furniture and homewares retailer's shares after it released a trading update at its annual general meeting. Management revealed that second-quarter sales were up 42% between 1 October and 27 November. This includes the doubling of sales during the Black Friday/Cyber Monday event.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Idp Education and Temple & Webster Group. The Motley Fool Australia has recommended Idp Education and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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