In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a gain. At the time of writing, the benchmark index is up 0.3% to 7,158.8 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price has continued its sensational run and is up a further 13% to 46 cents. Investors have been buying this rare earths developerâs shares this week after it announced that the Mining Management Plan for its 100% owned Nolans Neodymium-Praseodymium (NdPr) project has been approved by the Northern Territory Government.
Nanosonics Ltd (ASX: NAN)
The Nanosonics share price is up 2.5% to $4.63. This follows the release of the infection prevention companyâs annual general meeting update. Nanosonics revealed that for the four months to 31 October, total revenue came in at $52.6 million. This is up 42% compared to the prior corresponding period and up 36% in constant currency.
NextDC Ltd (ASX: NXT)
The NextDC share price is up almost 3% to $9.57. Investors have also been buying this data centre operatorâs shares following the release of an annual general meeting update. At the meeting, NextDC reaffirmed its FY 2023 guidance for revenue growth of 17% to 22% and EBITDA growth of 12% to 17%.
OZ Minerals Limited (ASX: OZL)
The OZ Minerals share price is up 4% to $27.38. This has been driven by news that the company has accepted an improved takeover offer from mining giant BHP Group Ltd (ASX: BHP). The Big Australian has been granted due diligence access after increasing its non-binding offer from $25.00 per share to $28.25 per share. This âbest and finalâ offer represents a 49.3% premium to where OZ Mineralâs shares were trading prior to the initial proposal.
The post Why Arafura, Nanosonics, NextDC, and OZ Minerals shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Why is the OZ Minerals share price racing higher on Friday?
- OZ Minerals share price on watch after accepting BHP’s $28.25 per share takeover offer
- Is a weak US dollar good for ASX 200 mining shares?
- 5 things to watch on the ASX 200 on Friday
- Here are the top 10 ASX 200 shares today
Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics Limited. The Motley Fool Australia has positions in and has recommended Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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