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 8,872 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is up 3.5% to $1.15. This may have been driven by the release of a broker note from Ord Minnett this morning. According to the note, the broker has upgraded the gold miner's shares to a buy rating with an improved price target of $1.40. This implies further potential upside of 22% for investors over the next 12 months. In addition, the gold price hit a new record high overnight. This has driven the S&P/ASX All Ords Gold index 0.8% higher on Tuesday.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up a further 3.5% to $4.56. Investors have been scrambling to buy this counter drone technology company's shares this week thanks to some big industry news. That news was the European Union's Defence Commissioner saying that the bloc will build a drone wall along the eastern flank, integrating detection, tracking and interception to counter hostile UAVs. The European Union is making the move after recent airspace violations. Bell Potter notes that "further details are expected at early-October EU meetings in Copenhagen and Brussels."
Orthocell Ltd (ASX: OCC)
The Orthocell share price is up 17% to $1.46. This morning, this regenerative medicine company announced that it has appointed its first distributor in the US$75 million Canadian market for its nerve repair and regeneration device Remplir. Orthocell's CEO and managing director, Paul Anderson, said: "Securing our first Canadian distributor provides immediate access to key provinces and will build Remplir's profile as a next-generation nerve repair solution. This is a major step in accelerating Remplir's international growth and our team is looking forward to supporting Canadian clinicians in delivering improved patient outcomes."
Restaurant Brands New Zealand Ltd (ASX: RBD)
The Restaurant Brands NZ share price is up 59% to $4.30. This follows news that the New Zealand based quick service restaurant operator has received a takeover offer. Finaccess Restauración has tabled a cash offer of NZ$5.05 per share. Its suitor stated: "[T]he offer price of NZ$5.05 per ordinary share is the final and best price that we are willing to pay under the takeover offer and accordingly we will not increase the consideration payable under the offer."
