The S&P/ASX 200 Index (ASX: XJO) is having another positive session on Tuesday. In afternoon trade, the benchmark index is up 0.2% to 8,136.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Adairs Ltd (ASX: ADH)
The Adairs share price is up 4% to $1.82. Investors have been buying this homewares retailer's shares today after it announced the appointment of its new CEO. Adairs has named Elle Roseby as its new leader. Roseby is an experienced and well-regarded retailer with a proven track record of delivering excellent results. Most recently, she was the managing director of Country Road and Trenery – which is owned by South Africa-based Woolworths Holdings. Before that, she held business leadership roles at Cotton On Group, Sportsgirl, and Myer Holdings Ltd (ASX: MYR).
Chalice Mining Ltd (ASX: CHN)
The Chalice Mining share price is up 8% to $1.33. This morning, this mineral exploration company announced that the Premier of Western Australia and Minister for State and Industry Development, Hon Roger Cook MLA, has awarded Strategic Project status to its 100%-owned Gonneville Project. This provides formal recognition of the strategic value of the project and its potential to deliver significant economic and energy transition benefits for Western Australia and the region.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is up 3% to $4.38. This follows the release of the coal miner's full year results this morning. Although New Hope posted sharp declines across sales, profits, and dividends, it still appears to have been better than feared by the market. With weaker prices offsetting strong production growth, New Hope posted a 34.6% decline in revenue to $1.8 billion and a 56.2% decline in net profit after tax to $475.9 million.
Platinum Asset Management Ltd (ASX: PTM)
The Platinum share price is up 12% to $1.11. Investors have been buying the fund manager's shares today after it received a takeover offer from rival Regal Partners Ltd (ASX: RPL). An all-scrip offer of 90.42 cents per share has been tabled. Regal will also allow Platinum to pay a special 24 cents per share fully franked dividend. This brings the total offer value to approximately $1.1442 per share, which was a premium of 15.6% to where Platinum shares ended yesterday's session. The Platinum board is now considering the offer. However, it has warned that there is no guarantee that discussions with Regal Partners will progress or that due diligence access will be granted.
