The S&P/ASX 200 Index (ASX: XJO) is on course to end its winning streak. In afternoon trade, the benchmark index is down 0.15% to 7,376.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are dropping:
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Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price is up 1.5% to 50.8 cents. Investors have been buying this rare earths developer's shares today following an update on the funding of the Nolans project. Arafura has appointed KfW IPEX-Bank to work in conjunction with Société Générale and National Australia Bank to arrange the debt financing facility for the project. KfW are a leading specialist financier dedicated to project and export finance with six decades of experience.
Data#3 Limited (ASX: DTL)
The Data#3 share price is up 6% to $7.12. This has been driven by the release of a trading update from the information technology solutions provider this morning. The company revealed that it expects to deliver first half net profit before tax near the top end of its $21 million to $25 million guidance range.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up almost 3% to 57 cents. This morning, this lithium developer announced an upgrade to the mineral resource estimate for the Goulamina Lithium Project in Mali. According to the release, recent drilling activities has resulted in the mineral resource estimate increasing by 31% from 108.5 Mt at 1.45 % Li2O to 142.3 Mt @ 1.38% Li2O.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up almost 7% to 71 cents. This is despite there being no news out of the buy now pay later provider. Though, it is worth noting that the company's shares have been on fire recently. Following today's gain, the Zip share price has now risen 18% since this time last week. Softening inflation and interest rate hikes appear to have got investors excited.
