The S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start and is in positive territory. At the time of writing, the benchmark index is up slightly to 7,500.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Bapcor Ltd (ASX: BAP)
The Bapcor share price is up 2% to $5.62. Investors have been buying this auto parts retailer's shares following a strong update from one of its rivals. They appear to believe that the update is a sign that Bapcor will have also had a strong first half of FY 2024.
Deep Yellow Limited (ASX: DYL)
The Deep Yellow share price is up almost 13% to $1.51. Investors have been fighting to get hold of Deep Yellow and other ASX uranium shares on Monday after the price of the chemical element increased again. This has been caused by news that the world's biggest uranium miner, Kazatomprom, is expecting to fall short of its production targets over the next two years. This poses a risk to supply as demand for the nuclear fuel rebounds strongly.
Super Retail Group Ltd (ASX: SUL)
The Super Retail share price is up 6% to $16.74. This has been driven by the release of a first half update from the retailer this morning. Goldman Sachs was pleased with the update, noting that its earnings were comfortably ahead of expectations. It said: "The company announced their preliminary 1H24 group revenue of A$2.02B (+3% YoY, in-line with GS A$2.0bn) and PBT of A$200-203mn (-8% YoY, +13% vs GSe A$178mn and +17% vs Visible Alpha Consensus A$172mn), with a strong beat at Supercheap Auto and BCF as key highlights."
Telstra Group Ltd (ASX: TLS)
The Telstra share price is up 2% to $3.99. This may have been driven by a broker note out of UBS. Its analysts believe that Telstra and its telco peers could re-rate in 2024 due to falling bond yields. The broker has a buy rating and $4.50 price target on the telco giant's shares.
