In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is continuing its positive run. At the time of writing, the benchmark index is up 0.45% to 7,595.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Arcadium Lithium (ASX: LTM)
The Arcadium Lithium share price is up 1.5% to $10.89. This afternoon the lithium miner revealed that it has received COMEX approval for the development of the James Bay Lithium in Quebec, Canada. Management notes that this means it is "positioned to execute this tier 1 project with detailed engineering well advanced prior to the commencement of construction."
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 7% to 25.75 cents. This may have been driven by bargain hunters swooping in on the belief that the lithium miner's shares were oversold following a disappointing update. For example, even after today's gain, the Core Lithium share price is down 24% since this time last week.
Fortescue Ltd (ASX: FMG)
The Fortescue share price is up 2% to $29.14. Investors have been buying Fortescue and other iron ore miners today after the price of the steel-making ingredient rose again. The benchmark iron ore price has climbed to US$140 per tonne, which bodes well for Fortescue's profits in FY 2024. Its shares hit a new record high today.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up 3.5% to 30 cents. This morning, this biotechnology company revealed that a couple of insiders have been buying shares on-market. According to the release, Joseph Swedish picked up US$100k worth of shares and Philip Krause made a US$40k purchase. Both directors were buying its Wall Street-listed shares during last night's session.
