rising share price

Linc Energy (LNC) received a speeding ticket from the Australian Securities Exchange (ASX) as its shares soared 25 per cent on Friday amid speculations circulated that the company has found a buyer for its Teresa coal settlement in Queensland. However, the Brisbane-based company denies the speculations and says that it has no explanation for the increase in its share price.

Leighton Holdings (LEI) shares jumped as high as 4 per cent or 82 cents to $21.35 in trading this morning after the Australian contractor upgrades its profit guidance for the first half. This is a result from the improved earnings that its Australian and Asian operations incurred.

Shares of Australian-listed company African Iron (AKI) climbed by 14 cents or 35 per cent to 54 cents after it announced that it signed a Takeover Bid Implementation Agreement (TBIA) with South African miner Exxaro Resources for a takeover for all of African Iron's shares.

Shares of clothing manufacturer Pacific Brands ( PBG) jumped to as much as 11 cents or 20 per cent to 67 cents in early trade after the company confirmed that it has received an unsolicited approach from US private quity giant KKR to buy the company.

"The board of Pacific Brands, together with its advisers Flagstaff Partners and Minter Ellison, is considering the approach and preliminary discussions are being held with KKR," said Pacific Brands.

Murchison Metals (MMX) are going to have a merry Christmas after all as shares rose by 8.97 per cent to 42.5 cents this morning after settling its legal battle with rival Chameleon Mining (CHM).

Shares of Gloucester Coal (GCL) jumped by $1.82 to $8.83 at 1107 AEDT as it resumes from a trading halt since Tuesday. The Australian coal miner shares climbed to as much as 27.3 per cent in the morning trade after it announced the merger proposal with China's Yanzhou Coal Mining Co.

After dropping in the recent days, QRxPharma (QRX) shares bounces back up by 10 per cent after it announced its partnership agreement with Actavis Group in launching its acute pain drug MoxDuo. With the final detail of the agreement still to be written and the US Food and Drug Association approval still on hold, QRxPharma has already received a non-refundable $6 million downpayment from Actavis.

Iluka Resources (ASX:ILU) shares rose 8 percent on top of a deal announcement that will boost second-half prices by 70 to 75 percent. The agreement with high grade titanium dioxide customers involved delivery of rutile and synthetic rutile products in the second half of this year.

Shares cleared the 6 percent hurdle for mining explorer Metminco (ASX:MNC) after an announcement that it will take full ownership of Southern Peru's Los Calatos project in a deal with Canada's Barrick Gold.

Barrick Gold is getting 75 million ordinary shares in Metminco in return for Barrick yielding its buy back right for the venture. Barrick will have about 5.1 percent of Metminco’s capital after Metminco finalises a $30.4 million capital raising.

Biotech Phosphagenics (ASX:POH), a junior biotechnology and cosmetics company would release a new cosmetic skin cream that delivers fat-reducing compounds into the skin. The anti- cellulite cream, known as BodyShaper Cellulite Contour Crème, uses its patented TPM technology with other fat burning chemicals like AOP 9604 (licensed from Calzada), caffeine and forskolin to deliver active compounds directly into the skin.