Why Adbri, Beach Energy, Core Lithium, and Link shares are charging higher today

These ASX shares are ending the week in style. But why?

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The S&P/ASX 200 Index (ASX: XJO) is having another strong session on Friday. In afternoon trade, the benchmark index is up 1.15% to 7,461.7 points.

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

Adbri Ltd (ASX: ABC)

The Adbri share price is up 7% to $2.24. This morning, this building materials company released a trading update and revealed that its 2023 underlying EBITDA is expected to be within the range of $310 million to $315 million. This moderately exceeds the outlook provided at its half-year results in August.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 4% to $1.55. Investors have been buying this energy producer's shares after oil prices charged higher overnight. A weaker US dollar and an improved 2024 demand outlook boosted prices. The S&P/ASX 200 Energy index is up 2% this afternoon.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 15% to 30.5 cents. This appears to have been driven by a jump in Chinese lithium futures following the completion of COP28. Short sellers may also be buying shares in a hurry to close their positions, adding to the buy side of the equation.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is up 9% to $1.72. This morning, this administration services company advised that longstanding client AustralianSuper has entered into a memorandum of understanding to negotiate an extension to their partnership until at least 2028.

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 Link Administration. The Motley Fool Australia has no position in any of the stocks mentioned. 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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