The S&P/ASX 200 Index (ASX: XJO) is back on form on Thursday and charging higher. At the time of writing, the benchmark index is up 0.45% to 8,987.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Brazilian Rare Earths Ltd (ASX: BRE)
The Brazilian Rare Earths share price is up 7.5% to $4.88. This morning, this rare earths developer announced the execution of strategic agreements with Carester SAS. It is a leading western rare earth processing specialist. The strategic agreements are for the supply of heavy rare earth feedstocks and to provide engineering and technical services for Brazilian Rare Earths' planned integrated rare earths separation refinery at the Camacari Petrochemical Complex in Brazil. Management notes that these agreements underpin its strategy to establish Brazil as a leading hub for rare earth production.
COG Financial Services Ltd (ASX: COG)
The COG Financial Services share price is up 13% to $2.38. Investors have been buying this financial services company's shares after it announced the acquisition of an additional 14.1% interest in Fleet Network. It is an existing subsidiary of COG under the Paywise salary packaging and novated leasing platform. Post completion of the transaction, the company will hold approximately 92.4%, with Fleet Network management retaining a 7.6% stake. COG's CEO, Andrew Bennett, said: "Our acquisition strategy of identifying strategic acquisitions to add to the organic trajectory of our business segments at the right price has allowed COG to pursue low risk transactions while delivering on accretion for shareholders. This acquisition in addition to EasiFleet delivered an uplift in pro-forma FY25 EPSA by 22% and contribute $9.6 million in FY25 EBITDA to COG shareholders."
Develop Global Ltd (ASX: DVP)
The Develop Global share price is up 7% to $4.48. This morning, this mining company revealed that it expects to generate outstanding financial returns from its Sulphur Springs project in Western Australia's Pilbara region. Develop Global's managing director, Bill Beament, said: "The case for accelerating Sulphur Springs is clear and compelling. We have a unique opportunity which we intend to maximise by building the underground decline and associated infrastructure at the start of the project, well before we start production mining, significantly de-risking the project and maximising the opportunity at Sulphur Springs."
Guzman Y Gomez Ltd (ASX: GYG)
The Guzman Y Gomez share price is up 1.5% to $27.40. This follows the release of a first quarter trading update and the announcement of a $100 million on-market share buyback. The quick service restaurant operator achieved global network sales growth of 18.6% on the prior corresponding period to $330.6 million. This was driven largely by a 17.4% increase in Australia sales to $305.5 million. In regard to its buyback, the company advised: "In light of this strong financial position, the Board has determined that an on-market share buyback of up to $100 million represents an efficient use of capital and is in the best interests of shareholders. The buyback provides the opportunity to enhance shareholder returns, while maintaining capacity to fund GYG's significant growth ambitions."
