The S&P/ASX 200 Index (ASX: XJO) is out of form on Friday and on course to end the week deep in the red. In afternoon trade, the benchmark index is down 1.2% to 6,476.9 points.
Four ASX shares that have not let that stop them from pushing higher today are listed below. Here's why they are rising:
AGL Energy Limited (ASX: AGL)
The AGL share price is up 3% to $6.80. This appears to have been driven partly by a broker note out of Credit Suisse this morning. According to the note, the broker has upgraded the energy company's shares to an outperform rating with an $8.20 price target. This follows news that AGL plans to exit from coal 10 years ahead of its previous target.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up over 3% to $7.74. Investors have been buying gold miners today despite the gold price only rising very modestly during Asian trade. This has led to the S&P/ASX All Ordinaries Gold index rising 2.5% today. Demand for safe haven assets could be boosting Northern Star and its peers.
Qualitas Ltd (ASX: QAL)
The Qualitas share price is up 6.5% to $2.30. This morning this alternative real estate investment manager revealed that it has secured a new capital commitment from a global institutional investor to invest $440 million in the Qualitas Construction Debt Fund II. Including the recent Abu Dhabi Investment Authority investment, Qualitas has now raised a total of $1.19 billion in new capital in the first three months of FY 2023.
Rio Tinto Limited (ASX: RIO)
The Rio Tinto share price is up 2.5% to $93.25. This could have been driven by news that the mining giant has started producing spodumene concentrate at a demonstration plant in its Rio Tinto Iron and Titanium facility in Quebec. Spodumene is a mineral used in the production of lithium for batteries.
