In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1% to 7,141.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:
Goodman Group (ASX: GMG)
The Goodman share price is up 1.5% to $23.44. This appears to have been driven by a broker note out of Citi. According to the note, its analysts have retained their buy rating with an improved price target of $25.50. Goodman remains Citi's "top pick in the Australian real estate space."
Metcash Limited (ASX: MTS)
The Metcash share price is up 1.5% to $3.60. This morning, this wholesale distributor released its half-year results and revealed a 1.3% increase in revenue to $7.8 billion. And while its underlying profit after tax fell 10.9% to $142.5 million, this still appears to have been a little ahead of expectations.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 3.5% to $12.89. Investors have been buying Northern Star and other ASX gold miners today after the price of the precious metal hurtled higher. This has been driven by traders putting bets on the US Federal Reserve cutting interest rates from March next year. The S&P/ASX All Ordinaries Gold Index (ASX: XGD) is up 3.3% this afternoon.
Smartgroup Corporation Ltd (ASX: SIQ)
The Smartgroup share price is up 3% to $8.88. This appears to have been driven by news that the fleet management and salary packaging company will be added to the ASX 200 index later this month at the next quarterly rebalance. Smartgroup will be one of three companies to join the benchmark index this quarter.
