In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 7,049.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
EML Payments Ltd (ASX: EML)
The EML share price is up almost 12% to 86 cents. Bargain hunters may be swooping in today following an almighty decline on Wednesday following the release of strategic and trading updates. The latter revealed that its troubled European business continues to burn through significant cash.
IPD Group Ltd (ASX: IPG)
The IPD share price is up 11% to $4.67. This morning, this electrical infrastructure products distributor announced the completion of its fully underwritten institutional placement and entitlement offer. IPD is raising $65 million to acquire CMI Operations, a leading distributor of electrical cables and manufacturer and distributor of plug brands, from Excelsior Capital Limited (ASX: ECL).
Iress Ltd (ASX: IRE)
The Iress share price is up 14.5% to $7.01. This morning, this financial technology company released a strategy update. It advised that its transformation program is progressing well. So much so, it has upgraded its earnings guidance for FY 2024. Management now expects underlying EBITDA of $135 million to $145 million. This compares to its previous guidance of $124 million to $134 million.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up 9% to $8.07. This is the second day in a row of strong gains for this online furniture and homewares retailer's shares. This has been driven by the release of a strong trading update at its annual general meeting. Management revealed that its sales growth has accelerated in the second quarter and was up 42% quarter to date at 27 November.
