The S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start and is edging higher in afternoon trade. At the time of writing, the benchmark index is up slightly to 8,543.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up almost 4% to $1.39. Investors have been buying this energy producer's shares following a sharp rise in oil prices overnight. According to Bloomberg, the WTI crude oil price was up 4.2% to US$74.80 a barrel and the Brent crude oil price was up 4.2% to US$76.43 a barrel. The catalyst for this was an escalation in the Iran-Israel conflict.
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 3% to $4.60. The catalyst for this has been the release of an update on the Honeymoon Uranium Project in South Australia. The uranium producer revealed that it has met its first-year production guidance of 850,000 lbs of U3O8 drummed at Honeymoon. This was achieved ahead of schedule on 17 June 2025. The company's managing director, Duncan Craib, said: "We have done exactly what we said we would do. Not once since announcing the Enhanced Feasibility Study in June 2021 have we revised Honeymoon's cost or production guidance. And we have increased production in every successive quarter."
Cochlear Ltd (ASX: COH)
The Cochlear share price is up 2% to $287.37. This appears to have been driven by the release of a broker note out of UBS this morning. According to the note, the broker has upgraded the hearing solutions company's shares to a buy rating with a $325.00 price target. It is feeling positive about the company's outlook thanks to its lineup of new products. UBS believes its new products will help Cochlear win market share growth and deliver double digit implant growth over the next three years. Combined with rising services revenue, this bodes well for the company's medium term earnings growth.
Light & Wonder Inc. (ASX: LNW)
The Light & Wonder share price is up over 3% to $132.15. This may be a delayed reaction to a broker note out of Macquarie on Tuesday. Its analysts put an outperform rating improved price target of $188.00 on the gaming developer's shares. The broker said: "Light & Wonder is setup to deliver +9.5% average annual adjusted EBITDA growth over three-years to hit the 2028 US$2bn target, albeit it is a touch above our forecast growth (+8.5%). A re-rating is likely, via momentum towards targets, litigation outcomes, and an eventual ASX primary listing."
