In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 8,947.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Lendlease Group (ASX: LLC)
The Lendlease share price is up 5% to $5.84. Investors have been buying this global property developer's shares following the release of its full year results. Lendlease reported a 17.3% decline in revenue to $7,749 million but a profit after tax of $225 million. The latter compares favourably to a loss of $1,502 million a year earlier. This allowed the Lendlease board to declare a partially franked final dividend of 23 cents per share.
Mirvac Group (ASX: MGR)
The Mirvac share price is up 4% to $2.38. The catalyst for this has been a positive reaction to Friday's results from a number of brokers. This includes Citi, which has upgraded its shares to a buy rating with a $2.60 price target. In addition, Macquarie has retained its outperform rating with an improved price target of $2.48. It said: "Outperform, $2.48 TP. MGR's total return troughed in 2H24 and should turn positive in 1H26 for the first time in 3 years. MGR trades attractively at 17x NTM P/E given our expectation of a 3-year OEPS CAGR of 11%."
National Australia Bank Ltd (ASX: NAB)
The National Australia Bank share price is up 2% to $40.00. Investors have been buying the banking giant's shares following the release of its third quarter update. NAB reported cash earnings of $1.77 billion for the three months, which is flat year on year but down 1% on the first half quarterly average. Management revealed that this reflects underlying profit growth of 2% offset by higher credit impairment charges. The bank's net interest margin (NIM) increased 8 basis points.
REA Group Ltd (ASX: REA)
The REA Group share price is up 3.5% to $259.17. This morning, this property listings company announced the appointment of its new CEO. The realestate.com.au operator has named Cameron McIntyre as its new leader with effect from 3 November. The release notes that McIntyre "is a highly regarded leader with an exceptional track record of delivery in digital marketplace businesses across domestic and international markets." He has been the CEO of auto listings company CAR Group Limited (ASX: CAR) for the past 9 years.
