The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a mildly positive note. In afternoon trade, the benchmark index is up 0.1% to 8,605.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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ARB Corporation Ltd (ASX: ARB)
The ARB Corporation share price is up 5% to $34.87. This appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has upgraded this 4×4 automotive parts company's shares to a buy rating with a $38.70 price target. Citi made the move on valuation grounds following a sharp decline in its share price this year. The broker also believes that ARB could be a big winner from further interest rate cuts in 2025.
Cleanaway Waste Management Ltd (ASX: CWY)
The Cleanaway share price is up almost 2% to $2.80. This morning, this waste management company revealed that the Australian Competition and Consumer Commission (ACCC) has cleared its acquisition of Contract Resources. The acquisition is now expected to complete on 31 July 2025. Commenting on the transaction, Cleanaway's CEO and managing director, Mark Schubert, said: "Contract Resources is a highly strategic acquisition that when combined with our Industrial Services (IS) business, creates a leading provider of integrated, specialised technical services to customers in the oil & gas, resources and industrial sectors."
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up almost 3% to $91.59. This may have been driven by the release of a bullish broker note out of Bell Potter on Thursday. Bell Potter reaffirmed its buy rating on the investment platform provider's shares with an improved price target of $100.00 (from $75.00). It said: "FY25 is shaping up to be a milestone year for HUB with revenue supported by record net fund flows, recovering financial adviser additions, accelerated license agreement signings and development of new platform menu offer partnering with investment managers to drive growth. HUB has seen the largest annual market share gain of all platform providers and commands 7.9% of the serviceable addressable market."
RPMGlobal Holdings Ltd (ASX: RUL)
The RPMGlobal share price is up 11% to $3.16. This follows the release of a sales update from the mining software solutions company this morning. RPMGlobal revealed that total contracted value (TCV) was $100.8 million for FY 2025. This represents a 30.9% increase on the $77 million it recorded in the prior year. It also revealed that it has $200 million in pre-contracted, non-cancellable software revenue that will be recognised in future years. This is up $38.7 million or 24.2% from the same time last year.
