The S&P/ASX 200 Index (ASX: XJO) is starting the week in style. At the time of writing, the benchmark index is up 1.35% to 8,923.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
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Accent Group Ltd (ASX: AX1)
The Accent share price is up 15% to 74.5 cents. This follows news that major shareholder, Frasers Group, has made a low-ball takeover offer of 65 cents per share. This was where the footwear retailer's shares ended last week. The company's board has advised shareholders to take no action. It said: "The Accent Board notes that: the Offer Price is equal to the last closing price of Accent shares on 12 June 2026 and therefore represents no premium to that closing price; Frasers' own substantial holding notice discloses that its last on-market purchases of Accent shares occurred between 3 February 2026 and 5 February 2026, at average prices above A$0.90, which is materially above the Offer Price; and because the Offer is an on-market bid, shareholders who sell their Accent shares to Frasers will not be able to withdraw that sale and will not receive the benefit of any increase in the Offer Price or any superior proposal that may emerge."
IperionX Ltd (ASX: IPX)
The IperionX share price is up 6% to $5.43. This morning, the titanium products company announced the US$3 million acquisition of critical mineral and mining assets adjacent to its flagship Titan Project in Tennessee. Management notes that the deal consolidates its position in the Big Sandy Critical Minerals Province. It also brings together established infrastructure and large stockpiles of pre-processed rare earth minerals.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 7.5% to $20.73. Investors have been buying gold miners today after the precious metal surged in response to a peace deal between the US and Iran. With oil now flowing through the Strait of Hormuz and oil prices tumbling, there are hopes that inflation could ease and interest rates may not need to rise further.
Sigma Healthcare Ltd (ASX: SIG)
The Sigma Healthcare share price is up 7% to $2.83. Investors have been buying the Chemist Warehouse owner's shares after it announced that it was no longer interested in acquiring UK pharmacy chain Boots. It advised: "Sigma engaged in the Boots sale process given the potentially unique opportunity it presented to accelerate its UK expansion through the market-leading Boots brand and large footprint. However, following its preliminary review the Company has concluded that such an acquisition would not currently meet its strategic and capital investment objectives."
