In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to end the week deep in the red. At the time of writing, the benchmark index is down 0.9% to 7,089.2 points.
Four ASX shares that have managed to avoid the selloff are listed below. Here’s why they are rising:
Infomedia Limited (ASX: IFM)
The Infomedia share price is up 4% to $1.50. This morning the software solutions provider to the automotive industry revealed that it has appointed its new Chief Executive Officer. According to the release, the company has named Jens Monsees as its new leader. Mr Monsees is an experienced, global executive known for driving digital transformation, innovation, and strategy across a range of industries including automotive and technology.
Newcrest Mining Ltd (ASX: NCM)
The Newcrest share price is up 1.5% to $25.74. This gain appears to have been driven by the release of an updated mineral resource and ore reserve statement for the Havieron project by Greatland Gold. However, it is worth noting that Newcrest advised that it has not reviewed or verified the analysis conducted by Greatland.
Piedmont Lithium Inc (ASX: PLL)
The Piedmont Lithium share price is up 6% to 79.7 cents. Investors have been buying this lithium miner’s shares after it reminded the market that it will benefit from the doubling of the mineral resource of the North American Lithium and Authier Lithium Projects in Québec in Canada. Yesterday Sayona Mining Ltd (ASX: SYA) announced the mineral resource upgrade, with Piedmont Lithium pointing out that it owns a 25% stake in the projects this morning.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is up 1.5% to $34.65. This is despite there being no news out of the retail giant. However, due to its defensive qualities, some investors may have been buying its shares amid the heightened market volatility.