In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is pushing higher again. At the time of writing, the benchmark index is up 0.25% to 8,457.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up 7.5% to 49.5 cents. Investors have been buying the respiratory imaging technology company's shares after it signed a commercial contract with Perth Radiological Clinics (PRC). This contract will see the company deliver its XV Technology-enabled ventilation reports across an initial 16 clinics in Perth. Management notes that the agreement marks an important milestone in the expansion of 4DMedical's presence across the Australian healthcare market. PRC is a leading provider of diagnostic imaging services in Western Australia, known for its clinical excellence and strong market presence.
De Grey Mining Limited (ASX: DEG)
The De Grey Mining share price is up 29% to $1.96. This follows news that the gold developer has agreed to be acquired by Northern Star Resources Ltd (ASX: NST) in a blockbuster $5 billion deal. De Grey's managing director, Glenn Jardine, said: "Given the high-quality nature of Hemi, De Grey is in the fortunate position to have had many avenues to progress the asset, including M&A. The Transaction that we have entered with Northern Star today is a highly attractive opportunity for De Grey shareholders in terms of the upfront premium, as well as retaining ongoing exposure to Hemi and gaining exposure to the broader Northern Star portfolio."
Metcash Ltd (ASX: MTS)
The Metcash share price is up almost 3.5% to $3.23. This has been driven by the release of a better than feared half year result from the wholesale distributor this morning. Metcash reported a 6.3% increase in group revenue to $9.6 billion but a 5.5% decline in underlying profit after tax to $134.6 million. Goldman Sachs responded: "Whilst the 1H25 segment sales and group underlying NPAT has been pre-announced, we think it is important to consider total earnings inclusive of Project Horizon costs, which were higher than GS estimate."
Select Harvests Ltd (ASX: SHV)
The Select Harvests share price is up 10% to $4.07. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has retained its buy rating on the almond producer's shares with an improved price target of $5.00. It said: "The balance sheet exited FY24 in a stronger position than expected and has benefited from ~$80m in cash inflows post balance date. Spot almond prices are also higher than the level assumed in our FY25e estimate (i.e. our assessment is a spot price >A$9/kg), implying an upside bias in forecasts should the 2025 crop develop as expected."
