Why Arcadium Lithium, Core Lithium, Fortescue, and Mesoblast shares are pushing higher

These ASX shares are having a good session on Thursday. But why?

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A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs

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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:

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.

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 no position in any of the stocks mentioned. 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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