In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to give back a portion of yesterday's gain. The benchmark index is currently down 0.4% to 6,799.3 points.
Four ASX shares that are not letting that stop them push higher are listed below. Here's why they are rising today:
Lake Resources N.L (ASX: LKE)
The Lake Resources share price is up 3% to 36 cents. Investors have been buying the lithium company's shares after it refreshed its flagship Kachi Lithium Brine Project Pre-Feasibility Study (PFS) based on revised lithium price estimates. It now estimates that the project has a net present value of US$1.6 billion (A$2.1 billion). This is almost double its previous estimates. Lake Resources made the move following discussions with potential off-takers and recent projections from Benchmark Mineral Intelligence.
PainChek Ltd (ASX: PCK)
The PainChek share price has jumped 10% to 7.6 cents. This morning PainChek released an update on its smart phone-based pain assessment and monitoring application. According to the release, the Universal Pain Assessment Solution has received CE Mark in Europe and Therapeutic Goods Administration clearance in Australia.
Z Energy Ltd (ASX: ZEL)
The Z Energy share price has risen over 4% to $2.72. Investors have been buying the New Zealand-based fuel retailer's shares after it announced that it has successfully renegotiated the covenant waivers with its banking syndicate. This will allow Z Energy to recommence distributions to shareholders, starting with an expected full year dividend in FY 2021.
Zip Co Ltd (ASX: Z1P)
The Zip share price is pushing 2% higher to $8.92 despite there being no news out of the buy now pay later provider. However, investors may believe its shares are good value based on a note out of Citi yesterday. Although its analysts have retained their neutral rating, their price target of $11.35 is notably higher than where its shares trade at today.
