The S&P/ASX 200 Index (ASX: XJO) is on course to end the shortened week with a solid gain. In afternoon trade, the benchmark index is up a decent 0.6% to 7,803.1 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Image source: Getty Images
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is up 14% to 25.7 cents. This is despite there being no news out of the semiconductor company. But with the trade war hitting chip makers hard overnight, it is possible that some investors believe that Brainchip could potentially fill a gap. Though, it remains to be seen if its technology will be adopted by any major companies.
Challenger Ltd (ASX: CGF)
The Challenger share price is up 7.5% to $6.63. This morning, this annuities company released its third quarter update and revealed a 22% increase in retail lifetime annuity sales to $246 million. Another positive was that Japanese sales were up 33% to $240 million. Challenger's managing director and CEO, Nick Hamilton, said: "Across our retirement business, Challenger maintained momentum through the third quarter, continuing to broaden our customer footprint while making significant progress delivering new technology for the future."
Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 14% to $1.91. Investors have been buying this clinical-stage radiopharmaceutical company's shares after it announced the signing of a commercial-scale supply agreement for copper-64 with Nusano. Clarity's executive chairperson, Dr Alan Taylor, commented: "The signing of this Supply Agreement with Nusano will complement Clarity's existing network of US-based copper-64 suppliers, providing capacity to ensure abundant and seamless supply of the isotope."
Gorilla Gold Mines Ltd (ASX: GG8)
The Gorilla Gold Mines share price is up 20% to 51.25 cents. This follows the release of promising drilling results from the Lakeview Gold Prospect. According to the release, drilling has extended the strike to more than 500m with the system open. The company's CEO, Charles Hughes, commented: "More great extensional results from Lakeview in LVEX034 with 24m @ 10.3 g/t Au; demonstrating continued upside and additionally solid infill results in LVEX031 with 40m @ 4 g/t Au 25m along strike from 96m @ 2.5 g/t Au n LVEX027l; demonstrating continuity to the system."
