In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.35% to 8,633.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Develop Global Ltd (ASX: DVP)
The Develop Global share price is up 1.5% to $6.50. This morning, this mining and mining services company announced that it will develop the Sulphur Springs and Pioneer Dome projects after making final investment decisions. The company's managing director, Bill Beament, commented: "These are pivotal developments which set up our company for rapid growth. They unlock the huge value of these two projects, putting us on track to generate significant cashflows from three operations covering copper, zinc, silver and lithium and all in Australia."
IDP Education Ltd (ASX: IEL)
The IDP Education share price is up 4% to $2.19. This may have been driven by a broker note out of Morgans this week. It upgraded the language testing and student placement company's shares to a buy rating with a $3.15 price target. It said: "Visa data in IDP's key destination markets remains in deep contraction, with AUS, CAD, and the UK all experiencing material volume and visa grant rate declines. Positively, IDP's China IELTS is scaling quickly (13 test centres vs 5 at 1H26), the cost base reset is on track (A$25m net reduction), and the group continues to demonstrate pricing power across both IELTS and Student Placement (SP). With structural demand drivers for international study intact, a leaner cost base, growing China optionality and ongoing technology/product development (Navi, FastLane, One Skill Retake), we are willing to look through the near-term backdrop on a cyclically depressed multiple. We upgrade to BUY, A$3.15ps PT."
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is up over 3.5% to $76.16. This is despite there being no news out of the retail giant. However, it is worth noting that investors have been buying retail shares on Wednesday. This could possibly be due to optimism that interest rate hikes are over in Australia and the RBA's next move will be to lower them.
Wesfarmers Ltd (ASX: WES)
The Wesfarmers share price is up 2.5% to $82.05. Investors appear to have responded positively to the company's 2026 Strategy Briefing Day event. At the event, Wesfarmers highlighted three key messages. It is accelerating its growth and productivity agenda, it has a portfolio of high-quality businesses with a mix of growth and resilience, and it retains a strong balance sheet with flexibility to invest.
