The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is pushing higher on Thursday. At the time of writing, the benchmark index is up 0.3% to 8,487.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Bravura Solutions Ltd (ASX: BVS)
The Bravura Solutions share price is up a further 5% to $2.10. Investors have been buying this wealth management software company's shares this week after it upgraded its revenue and earnings guidance for FY 2025. In respect to the latter, Bravura now expects its cash EBITDA guidance to be in the range of $33 million to $36 million. This compares to its previous guidance range of $28 million to $32 million. Management advised that this upgrade has been driven by the successful transformation and execution of its business strategy over the past 18 months. In addition, Bravura advised that it will be resuming dividend payments in 2025, starting with an interim dividend in February.
HMC Capital Ltd (ASX: HMC)
The HMC Capital share price is up 1.5% to $12.38. This morning, this alternative asset manager announced that it has entered into agreements to acquire Neoen's Victorian renewable generation and storage portfolio for $950 million. The portfolio covers four operational assets totalling 652 megawatts and six development assets with a total capacity of more than 2,800 megawatts. Management expects the new assets to be immediately earnings-accretive after the financial close in FY 2026.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price is up 4.5% to $11.93. Investors have been buying this fund manager's shares following the release of its latest funds under management (FUM) update. According to the release, Magellan's total FUM increased by $1.1 billion to $39.1 billion in November. This was despite recording net outflows of $400 million for the month. This comprises $200 million of net retail outflows and $200 million of net institutional outflows.
Perseus Mining Ltd (ASX: PRU)
The Perseus Mining share price is up 4% to $2.74. This follows the release of a drilling update from the recently acquired Nyanzaga Gold Project in Tanzania. Management notes that "while the program is ongoing, results achieved to date are positive." In other news, Perseus Mining was the subject of a bullish broker note out of Macquarie this morning. According to the note, the broker has reaffirmed its outperform rating with an improved price target of $3.60. This implies potential upside of over 30% for investors.
