The S&P/ASX 200 Index (ASX: XJO) is on course to start the month on a poor note. At the time of writing, the benchmark index is down 0.3% to 7,139.4 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are pushing higher:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up 3% to $5.68. Investors have been buying this infant formula company’s shares after China announced that it will be changing its two-child policy. The Chinese government will now support couples who wish to have a third child in an effort to raise China’s fertility rate. This could be a boost to the infant formula industry in the lucrative market.
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price has risen 2.5% to $22.95. The catalyst for this has been a strong rise in the iron ore price during overnight trade. According to Metal Bulletin, the spot iron ore price climbed 4.4% to US$198.83 a tonne following a rise in Chinese steel prices.
Infomedia Limited (ASX: IFM)
The Infomedia share price has jumped over 12% to $1.52. This morning the software company announced the completion of the acquisition of United States-based e-commerce platform, SimplePart. It also revealed that it expects its revenue to come in between $95 million and $96 million and EBITDA between $19 million to $20 million in FY 2021.
Talga Group Ltd (ASX: TLG)
The Talga share price is up over 2% to $1.62. Investors have been buying the battery materials company following the positive conclusion of its two feasibility studies into the technical and commercial prospects of a Talga Anode Refinery in the UK. According to the release, the studies found that it is technically and economically feasible to refine and produce Talga anodes in the UK.