The S&P/ASX 200 Index (ASX: XJO) is having a mildly positive session on Tuesday. In afternoon trade, the benchmark index is up slightly to 8,822.7 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 3% to $6.97. Investors have been buying this infant formula company’s shares this week after it received approval from the State Administration for Market Regulation (SAMR) to transition two China label infant milk formula (IMF) product registrations. A2 Milk’s CEO, David Bortolussi, said: “SAMR approval marks a significant milestone in our China growth strategy and Supply Chain transformation. It supports long-term growth in our core IMF business through market access and innovation, accelerates the development of advanced nutritional manufacturing capability, and captures attractive financial returns through incremental brand contribution and vertical margin capture.”

Calix Ltd (ASX: CXL)

The Calix share price is up 9.5% to 40 cents. This morning, this industrial technology company announced a joint development agreement (JDA) with Ambuja Cements Limited (Ambuja Cements). It is a subsidiary of the Adani Group. The two parties will work together on a commercial scale project at the Sanghi cement plant in Gujarat, India. Ambuja Cements’ director, Karan Adani, said: “The cement industry’s transition to a lower-carbon future will require bold thinking, technological innovation and collaboration across the value chain. Our partnership with [Calix subsidiary] Leilac reflects our commitment to evaluating next-generation technologies that can reduce process emissions while improving energy efficiency and supporting long-term sustainable growth. This initiative aligns with our vision of building world-class manufacturing operations for the future.”

CSL Ltd (ASX: CSL)

The CSL share price is up 2.5% to $115.66. This is despite there being no news out of the biotechnology giant on Tuesday. However, it is worth noting that CSL’s shares have been rebounding from their multi-year low this month. So much so, CSL shares have risen by 22% since the start of the month.

Ioneer Ltd (ASX: INR)

The Ioneer share price is up 18% to 16.5 cents. This morning, the lithium developer announced strategic non-binding letters of intent (LOIs) with the Korea Overseas Infrastructure & Urban Development Corporation and Hyundai Engineering Co. These will see the parties work together to advance the development of the Rhyolite Ridge Lithium-Boron Project. Ioneer’s managing director, Bernard Rowe, said: “Rhyolite Ridge has been a decade in the making — through ongoing partnerships, permitting, and financing. Working with trusted Korean partners with a track record of on-time and on-budget delivery brings us closer to breaking ground and delivering urgently needed lithium and boron. We’re delighted to work with KIND and Hyundai Engineering and look forward to what we’ll accomplish together.”

The post Why A2 Milk, Calix, CSL, and Ioneer shares are charging higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up a fraction to 8,821 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Centuria Capital Group (ASX: CNI)

The Centuria Capital share price is down over 6% to $2.04. This follows the successful completion of an institutional placement and entitlement offer. Centuria Capital has raised $265 million at $2.00 per new share. This represents a discount of 8.25% to its last close price. Centuria’s joint CEOs, John McBain and Jason Huljich, commented: “The Centuria and ResetData combination has created a differentiated NVIDIA neocloud partner with scalable sovereign AI Factories and access to Centuria’s real estate, land and potential 200MW+ power pipeline. ResetData is one of three Australian NVIDIA Cloud Partners and is uniquely placed to take advantage of an upswing in international demand for the establishment of Australian-based AI Factory capacity uptake. It is worth noting that comparable neocloud platforms in Australia have experienced rapid re-ratings as contracts and scale have emerged and we have this firmly in mind as we respond to increased AI demand and build out our capability in this area.”

Iluka Resources Ltd (ASX: ILU)

The Iluka Resources share price is down 11% to $7.24. This is despite the mineral sands and rare earths company announcing a major offtake agreement this morning. Iluka revealed that it has signed a binding, multi-year agreement for the supply of magnet rare earth oxides to a global automotive company. The agreement sets pricing at the higher of minimum and market-linked prices for each product to balance the dual risks of downside price volatility and security of supply. Iluka advised that its minimum revenue over the contract period is US$155 million. But assuming industry forecast pricing, Iluka’s revenue over the contract period would be US$172 million.

Metcash Ltd (ASX: MTS)

The Metcash share price is down 3% to $3.02. This may have been driven by a broker note out of Ord Minnett this morning. The broker has downgraded the wholesale distributor’s shares to a hold rating (from buy) with a reduced price target of $3.50 (from $3.70). While Metcash’s FY 2026 result was in line with expectations, Ord Minnett was disappointed with its trading update for the first seven weeks of FY 2027.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is down 2.5% to $3.58. Investors have been selling the plumbing parts company’s shares after it revealed that it is closing its brass casting, forging, and machining operations in Melbourne, along with additional smaller sites. This is part of its ongoing optimisation of its global manufacturing operations. Management revealed that it expects to recognise a one-off net charge of US$100 million to US$110 million in FY 2026.

The post Why Centuria Capital, Iluka, Metcash, and Reliance Worldwide shares are falling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Santos Ltd (ASX: STO) shares are pushing higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy stock closed yesterday trading for $7.30. As we eye the Tuesday lunch hour, shares are swapping hands for $7.33 apiece, up 0.4%.

For some context, the ASX 200 is just about flat at this same time.

Taking a step back, Santos shares have gained 19.4% in 2026, smashing the 1.1% year-to-date gains posted by the benchmark index.

And that’s not including the 14.5 cents per share in unfranked dividends Santos paid out to eligible stockholders on 25 March. If we add that back into the current share price, the stock’s cumulative value has risen 21.6% this year.

Santos trades on a 4.8% partly-franked trailing dividend yield.

One of the bigger tailwinds for the Aussie energy giant has been the surging oil price. Currently trading for US$78 per barrel, the Brent crude oil price is up 28% since 1 January

As you’re likely aware, global oil and gas prices have been spurred by the conflict in the Middle East and resultant closure of the vital Strait of Hormuz shipping lane.

But with global oil prices coming off the boil – the Brent crude oil price is down more than 34% since 29 April – is Santos still a good buy today?

Santos shares: Buy, hold, or sell?

Peak Asset Management’s Niv Dagan recently analysed the outlook for Santos’ outperforming stock (courtesy of The Bull).

“Santos is a global energy company,” he said. “Much of the near-term upside depends on successful execution of major projects.”

Commenting on those projects, Dagan noted, “Barossa is online and ramping up, while the Pikka phase 1 in Alaska has started production, with both expected to materially increase free cash flow at plateau rates.”

Dagan added that the ASX 200 energy stock is also aiming to materially deleverage over the next three to four years.

“Management is also targeting at least 60% of free cash flow for shareholder returns and a $2.5 billion reduction in net debt by 2030,” he said.

Summarising his hold recommendation on Santos shares, Dagan concluded:

However, the investment case still relies on commodity prices, capital discipline and the delivery of a large multi-year development pipeline across Australia, Papua New Guinea and Alaska.

What’s the latest from the ASX 200 oil and gas stock?

Santos shares may be getting a lift today, with the company announcing this morning that it has commenced continuous production operations at the Pikka Phase 1 oil project in Alaska.

Commenting on the milestone, Santos CEO Kevin Gallagher said:

The first production wells are now online and delivering continuous production. We will commence pressure support through seawater injection and bring more wells online progressively, building production toward our plateau target of approximately 80,000 barrels per day in the third quarter of this year.

The post With oil prices falling, should I still buy Santos shares now? appeared first on The Motley Fool Australia.

More reading

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• 5 things to watch on the ASX 200 on Monday
• Brokers name 3 ASX shares to buy right now

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.