In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 0.8% to 7,400.6 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are storming higher:
Afterpay Ltd (ASX: APT)
The Afterpay share price is up 3.5% to $127.92. This follows a strong night of trade for the Square share price on the Nasdaq and the strengthening of the US dollar. As Afterpay is being acquired by Square in an all-scrip deal, any movements in the Square share price has an impact on the takeover price. It is the same also for the US dollar.
Anteotech Ltd (ASX: ADO)
The Anteotech share price has continued its strong run and is up a further 17% to 27.5 cents. Investors have been buying the surface chemistry company’s shares this week after it announced a distribution agreement with Ramma Dental. This is for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test in Greece and Cyprus. Investors appear to be pricing in significant sales already.
Cettire Ltd (ASX: CTT)
The Cettire share price has jumped 15% to $3.66. This latest gain means the luxury goods ecommerce company’s shares are now up almost 650% since the start of the year. Overnight the US reported stronger than expected retail sales data. Investors may believe this bodes well for Cettire’s performance in FY 2022.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan share price is up 3% to $15.10. This appears to have been driven by bargain hunters swooping in after a sharp pullback on Thursday. The clean lithium company’s shares crashed lower after announcing firm commitments for a $200 million institutional placement. These funds were raised at $13.50 per new share, which represented a discount of 15% to the Vulcan share price at the time.